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Contract Award & Post-Award

Plain-language definitions of every Contract Award & Post-Award term that shows up in government tender work.


Contract Award & Post-Award

Award Notice Publication

An award notice publication is the mandatory public announcement, sent to the OJEU or a national portal after contract signature, disclosing the winning supplier, the contract value awarded, and key procurement details so that the market and the public can scrutinise how public money was spent.

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Contract Award & Post-Award

Contract Award Decision

A contract award decision is the formal determination by a contracting authority identifying the winning tenderer and the reasons for that choice, issued to all participating bidders before the contract is signed and triggering the mandatory standstill period under EU procurement law.

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Contract Award & Post-Award

Contract Closeout

Contract closeout is the formal process of concluding all obligations under a public contract at the end of its term, encompassing financial settlement through the final account, return of assets, knowledge transfer, transition to a successor supplier, and documentation of performance for future procurement decisions.

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Contract Award & Post-Award

Contract Commencement

Contract commencement is the date on which the winning supplier's obligations under a public contract formally begin, typically defined in the contract documents and often distinct from the contract signature date, marking the start of the contract duration and performance monitoring period.

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Contract Award & Post-Award

Contract Duration

Contract duration is the total period over which a public contract runs, from the commencement date to the end of the initial term including any extension options exercised, bounded by the maximum duration limits set out in the procurement documents and applicable EU or national procurement rules.

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Contract Award & Post-Award

Contract Extension Option

A contract extension option is a right, reserved by the contracting authority in the original procurement documents, to extend the contract duration beyond the initial term without re-competing the contract, subject to the maximum duration limit and the conditions set out at the time of award.

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Contract Award & Post-Award

Contract Maximum Duration

Contract maximum duration is the longest possible period a public contract may run, encompassing the initial term and all extension options, as disclosed in the original procurement documents and constrained by EU directive limits and proportionality principles to preserve market competition.

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Contract Award & Post-Award

Contract Performance Monitoring

Contract performance monitoring is the ongoing process by which a contracting authority measures, records, and manages a supplier's delivery against the key performance indicators, service levels, and contractual obligations agreed at award, forming the basis for payment adjustments, extension decisions, and future procurement references.

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Contract Award & Post-Award

Contract Signature

Contract signature is the formal execution of the public contract by both the contracting authority and the winning supplier, which can only occur after the mandatory standstill period has elapsed without a successful legal challenge, creating the binding legal relationship between the parties.

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Contract Award & Post-Award

Contract Value (Awarded)

The contract value awarded is the actual monetary value at which a public contract is signed with the winning supplier, disclosed in the award notice and covering the full contract period including options, which may differ from the estimated value published at the start of the procurement.

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Contract Award & Post-Award

Final Account

The final account is the comprehensive financial statement agreed between the contracting authority and the supplier at the end of a public contract, reconciling all payments made, variations instructed, claims settled, and deductions applied to produce the net amount due at contract close.

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Contract Award & Post-Award

Interim Payments

Interim payments are scheduled payments made to a supplier during the performance of a public contract, before the final account is settled, typically linked to time periods or the completion of defined stages of work, enabling suppliers to manage cash flow over the contract duration.

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Contract Award & Post-Award

Late Payment Interest

Late payment interest is the statutory interest that accrues automatically when a contracting authority fails to pay a supplier within the prescribed period under Directive 2011/7/EU, calculated at the European Central Bank's reference rate plus eight percentage points, without any need for a prior contractual agreement.

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Contract Award & Post-Award

Lessons Learned Report

A lessons learned report is a structured document produced at the end of a public contract, capturing what worked well, what did not, and what should be done differently in future procurements and contracts, informing specification design, evaluation approaches, and contract management for successor programmes.

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Contract Award & Post-Award

Letter of Intent

A letter of intent is a formal document issued by a contracting authority to the preferred bidder signalling the intention to award a contract, sometimes authorising limited preparatory work before the full contract is signed, but which does not itself constitute a binding contract.

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Contract Award & Post-Award

Milestone Payments

Milestone payments are contractual payments tied to the completion and acceptance of defined deliverables or project stages, rather than to the passage of time, giving contracting authorities assurance that payment is linked to verified outputs before funds are released.

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Contract Award & Post-Award

Payment Terms (EU Directive 2011/7/EU)

Payment terms under EU Directive 2011/7/EU on combating late payment require contracting authorities to pay suppliers within thirty days of receiving a correct invoice or accepting goods or services, with automatic entitlement to late payment interest and compensation for recovery costs if this deadline is missed.

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Contract Award & Post-Award

Subcontractor Notification

Subcontractor notification is the obligation on the winning supplier to disclose to the contracting authority the identity, role, and share of work of subcontractors involved in performing the public contract, enabling the authority to verify their suitability and ensure supply chain transparency.

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