Part 1: Key definitions Section 4: Valuation of contracts
Contracting authorities will need to estimate the value of contracts, in particular to determine whether the value of those contracts are above applicable thresholds and therefore in scope of this legislation. Subsection (1) sets out that the "estimated value" of a contract is its value for the time being estimated by a contracting authority.
	Subsection (2) sets out that, when estimating the value of a contract, the contracting authority must follow the valuation rules set out in Schedule 3 (estimating the value of a contract).
	Subsection (3) provides that a contracting authority must not manipulate the estimated value of a contract in order to exclude that contract from the scope of requirements in this legislation.