S.L. 601.12 Art. 16Calculation of the estimated value of procurement.

(1) The calculation of the estimated value of a procurement procedure shall be based on the total amount payable, excluding any tax, as estimated by the contracting authority, including any form of option and any renewals of the contracts as explicitly set out in the procurement documents.

(2) The estimated value referred to in sub-regulation (1) shall be valid at the moment at which the call for competition is sent, or, in cases where a call for competition is not foreseen, at the moment at which the contracting authority commences the procurement procedure, for instance, where appropriate, by contacting bidders in relation to the procurement.

(3) Where a procurement process for the procurement of property may result in contracts being awarded in the form of separate lots, in order to determine the estimated value the contracting authority shall take into account the cumulative value of all lots when applying the provisions of regulation 6. Contracts into Lots