Public contract financing and supervising

1 ABSTRACT The thesis deals with public contract financing and supervising in Czech Republic according to Czech national law with respect to European Union directives. The aim was to analyze existing law in area of public contract financing based on practical experiences with public as well as commercial procurement and propose improvements of law provisions, which can lower the cost of public contracts. Major and minor specific changes were recommended mainly for Act No. 137/2006 Coll., public procurement law (hereinafter referred to as the "public procurement law"), as subsequently amended, in following areas: Deeper applying of 3E principles - Public contract authority shall act much more economically, effectively and efficiently during whole public contract lifecycle from defining needs to fulfill public contracts. The public contract authority obligation to act according to 3E principles shall be directly included into public procurement law. Increasing level of free and fair supplier competition - Three main principles of equity, non-discrimination and transparency shall be applied by public contracting authorities more extensively. The rules of public tendering process shall be simplified. Administration obstacles for supplier participation shall be removed. The space given by law to public..