The legislative act sets legal and economic principles of procurements of goods, works and services to meet the needs of the state and territorial communities.

The Law envisions public procurements using two competitive procedures of regulation: open tenders and competitive dialogue, as well as one competitive - negotiating procurement procedure. The open tenders are conducted through compulsory holding of an auction with the lowest price and taking in account the non-price criteria.

The Law envisions opportunity to establish centralized procurement organizations, which can be legal entities picked by the Cabinet of Ministers of Ukraine, Council of Ministers of the Russia-annexed Crimea, local self-government bodies, customers responsible for the organization and holding of procurements and procurements under framework agreements in interests of customers in compliance with the Law.

The Law amends the Administrative Offences Code of Ukraine, Civil Procedure Code of Ukraine, Commercial Code of Ukraine, Civil Code of Ukraine, Civil Procedure Code of Ukraine, as well as the Laws of Ukraine "On Antimonopoly Committee of Ukraine," "On state material reserve," "On national program for informatization," "On compulsory social insurance," "On compulsory state social unemployment insurance," "On banks and banking activity," "On state support to book publishing in Ukraine," "On metrology and metrological activity," "On insurance," "On recreation of children," "On fundamentals of social protection of disabled people in Ukraine."

The Law was adopted taking in account remarks.

Respective draft law was registered under No. 3559.
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