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How is the value of a procurement assessed?

assessed procurement value
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How is the value of a procurement assessed?

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The Contract value is based on the probable sum payable to the provider over the term of the contract. If the value is £50,000 per annum for two years, then the value of the contract is estimated at £100,000. If there was an option to extend the Contract for a further year then the value is estimated as £150,000.

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