S.L. 601.5 Art. 53Renewal of supply or service contracts.

The estimated contract value in the renewal of supply or service contracts which are regular in nature or which are intended to be renewed within a given period shall be calculated as follows:

(a) either the total actual value of the successive contracts of the same type awarded during the preceding twelve months or financial year adjusted to take account of the changes in quantity or value which would occur in the course of the twelve months following the initial contract; or

(b) the total estimated value of the successive contracts awarded during the twelve months following the first delivery, or during the financial year where that is longer than twelve months.