Obama Signs Bill Raising Agency Micropurchase Limit

Law360, New York (January 5, 2011, 3:35 PM EST) -- President Obama has signed a bill raising the micropurchase threshold for executive agency procurements from $2,500 to $3,000 — a distinction that, while small in dollar value, could simplify a great number of federal purchases.

The bill, which Obama signed Tuesday, amends title 41 of the U.S. Code relating to public contracts. Other modifications to the code are technical changes and updates that will not significantly affect the law.

The micropurchase threshold is the limit at or beneath which executive agencies may make purchases without requesting...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.