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.