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The Financial Management Authority Frontpage
The Financial Management Authority Frontpage

Financial Management Authority

Procurement and sale

Table of contents

Buyers

Sellers

Buyers

Public procurement refers to the purchase of goods, services and works by the state, municipalities and other public entities. The objective of public procurement is to ensure the efficient use of public funds, promote effective competition and provide companies with equal access to business opportunities with the public sector. Public procurement is also based on the principles of transparency, equal treatment and proportionality in order to strengthen trust in the use of public funds.

Public procurement is governed by the Icelandic Public Procurement Act.

Public Procurement Act No. 120/2016

How do I procure service and goods?

Public entities must conduct a tender procedure for the purchase of goods, services or works when the estimated value of the contract exceeds the applicable procurement thresholds under public procurement legislation.

Procurement Thresholds

Procurement thresholds are financial limits that determine which procurement rules apply and whether a contract must be tendered.

Procurement Below the Thresholds

When the estimated value of a procurement is below the applicable thresholds, simpler rules apply than for procurements above the thresholds.

Procurement Above Threshold Values

For procurements above the applicable threshold values, contracting authorities are generally required to conduct a public tender procedure.

When are procurements carried out through Fjársýslan?

The Financial Management Authority handles the execution of tenders in consultation with the buyer and provides advice on the preparation and implementation of procurement.

The Financial Management Authority

Business hours

Monday to Thursday 9-15
Fridays 9-13

Address

Katrínartún 6
105 Reykjavík

Kt. 540269-7509

Contact us

Email: fjarsyslan@fjarsyslan.is

Tel: 545 7500