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Thresholds for Quotations and Tenders

The University has a number of prescribed financial levels above which different procedures apply. These are summarised below and will be reviewed periodically and revised as appropriate.

 

Threshold / Band (excluding VAT) Requirement
£2,500 Orders with values below this threshold may be approved by a Nominated Buyer.
£2,500 to £30,000 All purchases of goods and services require at least three written competitive quotations.
> £30,000 All purchases of goods and services are subject to a competitive tendering exercise which must be handled by the Procurement Office. (The Procurement Office should be contacted as soon as possible, once a requirement has been identified.)
£172,514 (eff 1 Jan 14 to 31 Dec 15)
All purchases of goods and services are subject to tender under European procurement regulations.  All such tenders must be handled by the Procurement Office. (The Procurement Office should be contacted as soon as possible, once a requirement has been identified.)
£4,322,012 (eff 1 Jan 14 to 31 Dec 15) Major works contracts exceeding this value must be tendered by the Procurement Office under European procurement regulations.