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What Is the Estimated Contract Value?
The buyer's calculation of what a contract is worth, used to decide whether it is above or below threshold.
How is the estimated value calculated?
As the total amount payable over the whole contract, including VAT, options, extensions and renewals.
Why does the estimate matter?
It decides whether the contract is above or below threshold, and therefore which rules, notices and procedures apply.
Can a buyer lower the estimate to avoid the rules?
No. Deliberately undervaluing or splitting a requirement to stay below a threshold is not allowed.
