Are there prescribed procedures that College must follow when approaching the market?
Yes. In line with UK and European Union Public Procurement Regulations & HEFCE code of practice most Universities have to establish a set of purchasing, tendering and contracting regulations and procedures, which apply to all its contracts. King’s College London’s regulations are published in its Financial Regulations. The procedures that we follow are dependent on the indicative value of the contract. The threshold values and associated procedures are detailed below. • At or below £2,000, competitive quotations are not mandatory but are recommended provided that the value involved is sufficient to warrant it. • Between £2, 000 and £10,000, written quotations must be obtained from a minimum of 2 competant suppliers. The quotations and a short, written justification of the choice of supplier must be maintained on file. • Between £10, 000 and £50,000, written quotations must be obtained from a minimum of 3 competant suppliers. The quotations and a short, written justification of the choi
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