Mastering Procurement Thresholds
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Questions and Answers

What does the term 'procurement threshold' refer to?

  • The limit on the amount of goods that can be procured
  • The maximum price for a procurement contract (correct)
  • The minimum amount of goods that must be procured
  • The minimum price for a procurement contract

    • What could be a potential implication of exceeding the procurement threshold?

  • The buyer could face penalties
  • The seller could face penalties
  • All stakeholders could face legal implications (correct)
  • The contract may be void

    • Who typically sets the procurement threshold?

  • The seller
  • The buyer
  • The procurement agency
  • The government (correct)

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