Standing offers for panel arrangements often include extension options. Well in advance of a panel approaching the end of its period of operation, the panel manager should determine whether the goods or services to be procured are subject to a coordinated procurement arrangement. If not, any extension option included in the panel arrangement should be considered on the basis of whether it would provide value for money.

An entity may decide to exercise an extension option for only some of the members of the original panel arrangement. Indicators such as timeliness, quality of services and quantity of services would contribute to the value for money assessment.

Key factors to consider when deciding whether to exercise an option to extend a contract or panel arrangement, are discussed in Part Five of this Guide.95

An entity may decide to exercise an extension option for only some of the members of the original panel arrangement.