For procurements above the applicable threshold values, contracting authorities are generally required to conduct a public tender procedure. If the contracting authority is a party to a central framework agreement administered by Fjársýslan and the agreement covers the relevant goods or services, the procurement shall be carried out in accordance with the terms of that agreement. Otherwise, the procurement shall be tendered in accordance with the Public Procurement Act.

State entities within Parts A1 and A2 of the State Treasury are required to conduct their procurements through Fjársýslan in accordance with the Regulation on the Organisation of State Procurement. Fjársýslan manages tender procedures in cooperation with the contracting authority and provides advice on the preparation and execution of procurements.

Municipalities and other public entities may either manage their own procurements or seek assistance from parties providing procurement services. They may also request assistance from Fjársýslan in relation to procurement procedures.