Purpose

Proposal to increase the
contract document sealing requirements currently set at a minimum
of £100,000 per contract to a minimum of £250,000 per
contract.
 

Decision

Decision(s):

(1) The Legal sealing level of
contracts from £100,000 to £250,000 be
increased
 
(2) The Contract Procedure
Rules will be updated to reflect the agreed change be
noted
 

 
Reasons for the Decision(s):
 
To improve the efficiency of
existing processes.
 
Alternative Options
Considered and Rejected: (including any
Risk Implications)
 
By remaining at the current
levels of £100,000 for document sealing the Council are not
making the best use of our Legal and Procurement
resources.  The increase to
£250,000 addresses this issue without significantly
increasing the level of risk to the Council.
 
The risk being that a latent problem, with a
contract, emerges outside the limitation period and the Council is
barred from legal action in that matter. This would only be for
those contracts in the range £100k - £250k (and
excludes most property transactions). It is considered that the
benefit of the change is proportionate to the risk.