Financial instructions for Tenders and Quotations
Up to £10k: The local procurement procedure may use any reasonable means to select the supplier, preferably three quotations shall be obtained ( this may be from catalogues or price lists). The procurement procedure and outcome must be recorded and retained locally.
£10k to £50k: At least three formal written quotations or references to three supplier catalogues shall be obtained. At least one quotation should be sought, where possible, from a local SME.
Over £50k: All procurement to be managed by the Regional Procurement team. At least three tenders shall be obtained. Where the aggregated value of the tender is in excess of EU thresholds, tender procedures will be in accordance with EU Procurement directives.