hankintavaraus

Hankintavaraus is a Finnish term that translates roughly to "procurement reservation" or "acquisition reservation." It refers to a financial commitment made by a public sector entity to secure funding for a future purchase or contract. This mechanism is used to ensure that funds will be available when a procurement process is completed and a contract needs to be signed, even if the actual payment will occur later.

The purpose of a hankintavaraus is to prevent situations where a finalized procurement process might fail due to a lack of allocated funds. It serves as an internal accounting tool that earmarks a specific amount of money for a planned expenditure. This is particularly important for larger or more complex procurements that may have a lengthy planning and tendering phase.

A hankintavaraus is typically made during the budgeting process or when a decision to initiate a procurement is taken. It signifies a formal intention to spend and is a prerequisite for proceeding with procurement procedures under Finnish public procurement law. The amount reserved is usually based on an estimated cost of the goods, services, or works to be acquired. The actual expenditure can only occur after the procurement process has been concluded and a contract has been awarded.