Legal Framework
As a public sector organisation the Council is required to comply with:
- The Procurement Act 2023 (introduced on the 24/02/25 under The Procurement Regulations 2024)
- The Public Contract Regulations 2015 – for contracts awarded under those regulations
- Specific requirements of relevant funding bodies
- Council Financial Regulations
- Council Standing Orders for Contracts
- Council Procurement Strategy 2023 – 2028
- Subsidy Control Act 2022
This is to ensure transparency and fairness in how we procure, and that we obtain value for public money.
What do we mean by value for money?
A common misconception is that value for money, or VFM, means securing the the lowest price when purchasing. VFM is the best combination of associated costs and benefits that can be achieved to meet a particular need over the lifetime of that need. Through our market testing and tender specifications we are seeking to identify and select the Most Advantageous Tender, that is – the best mix of cost and quality outputs that meet or exceed our requirements.