Financial Thresholds

The diagram below shows the financial limits and criteria for inviting tenders and quotations:-

 

*The current EU Thresholds: Goods & Services £164,176, Works £4,104,394 (excluding vat)

When estimating the value of a procurement, you must take into account the total estimated spend for the duration of the contract including any possible extension periods or additional costs such as training, implementation, maintenance etc. where appropriate.

The Public Contract Regulations 2015 state that if goods, works or services of the same type are being procured separately across the College, then the value of the separate procurements should be combined and if the value exceeds the EU thresholds, the Public Contract Regulations 2015 will apply.

You must not try to fulfil a requirement by splitting orders to avoid inviting quotations of tenders.

If a waiver application is required you must fill out the waiver pro-forma and submit this to the Finance department.  This then must be verified and supported by the Director of Procurement & Governance prior to approval as follows;

  • Director of Procurement & Governance for purchases up to £10,000 (inc VAT)
  • Vice Principal (Finance & Resources) for purchases up to £50,000 (inc VAT)
  • Principal for purchases above £50,000 (inc VAT)
Last modified: Tuesday, 10 January 2017, 4:21 PM