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What Is a Dynamic Market?
This is a UK procurement term. A list of pre-qualified suppliers that stays open for new entrants to join at any time, which buyers draw on for individual contracts.
How is a dynamic market different from a framework?
A framework is closed or reopens only at set points. A dynamic market stays open, and new suppliers can apply to join at any time.
How are contracts awarded?
Buyers run competitions among the suppliers admitted to the dynamic market, or the relevant part of it.
What does a dynamic market replace?
It replaces the dynamic purchasing system (DPS) used under the old regulations.
