Threshold Amount

The threshold amount comprises the monetary limits determined each year for the purpose of establishing the qualification criteria to be required in a tender, determining tender notice periods and the tender procedure, setting the monetary limits governing the participation of foreign tenderers, and assessing abnormally low tenders. The monetary limits are laid down in subparagraphs (a) and (b) of the first paragraph of Article 8 of Law No. 4734 for goods and service procurements, and in subparagraph (c) for works, and are updated each year by the Public Procurement Authority.