Regulatory Alerts2017-06-27
Law No. 340-06 on the Procurement and Contracting of Goods, Services, Works, and Concessions
The National Congress of the Dominican Republic enacted Law No. 340-06 to establish a unified legal framework for public procurement that ensures efficiency, transparency, and international compliance. The legislation mandates that all public sector entities adhere to strict principles such as equality, free competition, and fairness while defining the scope, procedures, and exclusions for acquiring goods, services, works, and concessions. It further regulates the registration of bidders, sets limits on petty cash expenditures, and outlines specific conditions under which standard procurement formalities may be waived or modified.
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