Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-GWAKZB

Financial indexes required for participating in public procurement bids in Colombia

in Colombia

Trade barrier summary

Decree 1510 of 2013 in Colombia, which regulates the public contracting and procurement system, sets out certain ratios or mandatory indicators that providers should fulfil for the presentation of offers in public contracts - these are financial, economic and organisational capacity ratios. In addition, state entities may individually establish additional indicators, such as working capital, cash ratio, acid finance test or concentration of short-term debt. These ratios deviate a lot from the common international practice derived from the standards established by multilateral banks. In addition, these ratios do not quite fit the nature of overseas businesses, which could put overseas businesses at a disadvantage, when applying for public tenders in the market.


Sectors affected

  • Advanced engineering
  • Airports
  • Construction
  • Railways

Resolved

No


Date reported

11 December 2019


Last updated

3 February 2021


Public ID

PID-GWAKZB


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