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Questions and Answers
What does the term 'procurement threshold' refer to?
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?
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?
Who typically sets the procurement threshold?
- The seller
- The buyer
- The procurement agency
- The government (correct)
