Increase in Direct Purchases Limit in Guatemala
The New State Purchases Law would increase the limit in direct purchases from $3,700 to $9,300
Thursday, March 19, 2009
Additionally, the Comptroller General of Accounts is proposing that the direct purchase process should be done with a bidding stage. Carlos Menco, head of the Comptroller's Office, told the Periódico of Guatemala that "the proposal is for a bid to be published on the website for such acquisitions, but the competition should not go through the same terms as a tender."
The government may not use more than 20% of its investment budget for projects undertaken under this modality.
The reform to regulate the procurement process undertaken by the Government becomes effective from today, May 12, 2011.
The local business community is confident of a quick approval by the Assembly of the Procurement Act.
This week, the National Assembly began the consultation process for the new State Contracting Law.
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