Good Practice Guide Thresholds

The following thresholds, for quotation and tender exercises are recommended for colleges to include in their financial regulations.

Note: you should check your own institution's Financial and Procurement Procedures to check if different thresholds (at the sub-PCR levels) apply.

Supplies and Services

Competitive procedure Financial Threshold
Quotations Between £5,000 and £25,000
Tenders Over £25,000
Tenders - PCR Over ~£214,904*

 

Works

Competitive procedure Financial Threshold
Quotations Between £25,000 and £250,000
Tenders Over £250,000
Tenders - PCR Over ~£5,372,609*

 

*values correct as at 1 January 2024.  These values are updated every 2 years.