To ensure that we get value for money we need to have our requirements open to the appropriate level of competition.
The level of competition depends on the value of spend, which in general should be:
|Value of expenditure||Minimum level of competition|
|Up to £2,000||Minimum a single quote (e-mail, catalogue/internet price, record of ‘phone conversation etc.).|
|£2,001 - £10,000||Minimum 3 written quotes (written quote can be email or catalogue/internet price).|
|£10,001 - £177,897.50 (£213,477 inc. VAT)||Formal open competitive tender undertaken by Procurement – tender and contract documentation to be published on Contract Finder and open procedure used.|
|£177,897.50 + (£213,477 inc. VAT)||Formal tender procedure subject to the Public Contracts Regulations to be undertaken by procurement.|