New Belgian Royal Decree exempts banking and investment services from general performance conditions for public procurement contracts
On 14 January 2013, a new Royal Decree on the general performance conditions for public procurement contracts (the New Royal Decree) was adopted. The New Royal Decree will apply as from 1 July 2013 and will affect contracts that are announced after that date.
This New Royal Decree, which replaces the Royal Decree of 26 September 1996 on the general performance conditions for public procurement contracts (the 1996 Royal Decree), expressly exempts from its application contracts with financial institutions that relate to banking and investment services.
This is positive news for financial institutions that provide banking and investment services to Belgian public authorities and public law entities. Under the 1996 Royal Decree there is some legal uncertainty as to whether the general performance conditions for public procurement contracts also apply to contracts for banking and investment services with public authorities and public law entities, even if the documentation does not expressly refer to them…
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