best value

best value
England, Wales
A statutory framework that ensures that councils are required to plan, deliver and continuously improve local authority services. Each local authority has a duty to "make arrangements to secure continuous improvement in the way in which its functions are exercised, having regard to a combination of economy, efficiency and effectiveness". Best Value replaced the previous Compulsory Competitive Tendering regime.
+ best value
a local government awarding authority seeks best value under section 3 of the Local Government Act 1999 (www.practicallaw.com/8-382-1110), "...to secure continuous improvement in the way in which its functions are exercised, having regard to a combination of economy, efficiency and effectiveness" (section 3(1)).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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