14. Where a requirement to value test is included within a contract, it is usually applicable every 5-7 years. In some contracts there is a longer period prior to the 1st value test, before more typical intervals apply for the remaining duration of the contract.
15. As all contracts are different, projects should refer to the contract for details of the VFM Review date. The VFM Review cannot commence until the Service Provider has produced its audited financial accounts for the financial year which follows the VFM Review date.