Estimated value a public contract (proposed methods and procedures towards determination of the estimated value of public contract)
Abstract
Analysis of studies that scrutinise public contracts indicates that there are differences between the estimated value of a public contract and its tendered (or final) price. This fact surfaces, for example, as recorded cases where due to an inaccurately determined estimated price of a public contract were some public contracts awarded within a different type of an award procedure than would otherwise correspond with a correctly assessed estimated price of the given contract.
One of epistemological reasons for this situation is the lack of a theoretical concept that would suggest how to proceed in determining the estimated value of public contracts. The presented study deals with this - so far neglected - issue.
It proposes procedures and methods that may be used to correctly specify the estimated value of public contracts. These procedures may be used within amending of the Act on Public Contracts and as a basis for the development of a procedural methodology for contracting entities to be used in determining the estimated value of a public contract.
Implementation of such a document may contribute to the boost in transparency of public procurement.