A procurement tool introduced by the UK Procurement Act 2023 that enables a contracting authority to establish and maintain an always-open list of suppliers who meet specified conditions for membership. It is not a contract itself; instead, buyers run competitive procurements among eligible members for individual contract opportunities. Dynamic Markets replace the Dynamic Purchasing System (DPS) used under the Public Contracts Regulations 2015.
Dynamic Market
A Procurement Act 2023 tool maintaining an always-open list of qualified suppliers to compete for individual contracts, replacing the DPS.
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Related Glossary Terms
The official compilation of permanent U.S. federal laws, providing the statutory basis for many contracting requirements.
A global classification system used to categorize products and services for procurement and spend analysis.
A unique 12-character identifier assigned via SAM.gov to organizations doing business with the federal government, replacing the DUNS number.
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