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The Dynamic Purchasing System (DPS) is a procedure available for contracts for works, services and goods commonly available on the market. As a procurement tool, it has some aspects that are similar to an electronic framework agreement, but where new suppliers can join at any time.
Contract awarding is the method used during a procurement in order to evaluate the proposals (tender offers) taking part and award the relevant contract. Usually at this stage the eligibility of the proposals have been concluded. So it remains to choose the most preferable among the proposed.
A Contract Award Notice is a public announcement of the public procurement exercise outcome.
A Letter of Award sets out the key terms and conditions which will be included in the formal contract between the Employer and the successful Contractor (Contract).
The term 'contract award' refers to the process of formally notifying a tenderer that they have been selected as the supplier for a particular contract.