What is EU threshold for public sector procurement in SAP PSM-GPR - Procurement for Public Sector?

SAP Term: EU threshold for public sector procurement

• Component: PSM-GPR

• Component Name: Procurement for Public Sector

• Description: A value determining which legislation EU or national applies to public procurement contracts. All contracts exceeding certain threshold values must be published in the Official Journal of the European Union and in the Tenders Electronic Daily TED database.

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• Key Concepts: 
  EU threshold for public sector procurement is a term used in the SAP PSM-GPR Procurement for Public Sector component. This term refers to the minimum value of a public sector procurement contract that must be met in order for the contract to be subject to European Union (EU) procurement rules and regulations. 
  
  How to use it: 
  When creating a public sector procurement contract, the value of the contract must be compared to the EU threshold for public sector procurement. If the value of the contract is equal to or greater than the EU threshold, then the contract must comply with EU procurement rules and regulations. 
  
  Tips & Tricks: 
  It is important to be aware of the EU threshold for public sector procurement when creating a public sector procurement contract. This will ensure that the contract is compliant with EU regulations and will help avoid any potential legal issues. 
  
  Related Information: 
  For more information on EU threshold for public sector procurement, please refer to the SAP Help Portal or contact your local SAP representative.