The Authority has to comply with certain rules and regulations when buying Goods and Services, which include EU directives on public procurement.
EU Directives on Public Procurement
Contracts valued at £173,934 or more for Goods and Services, and £4,348,350 or more for Works, have to be advertised in the Official Journal of the European Union (OJEU). The advertisements have time limits and have procedures to follow.
Financial Limits for the Authority’s transactions
In addition to the EU Directives, the Authority has its own Financial Regulations, to which all budget holders must adhere:
  • Goods and Services up to £1,000 can be commissioned on the basis of one quote, subject to the good(s)/service being of a one-off nature and in the opinion of the officer concerned represents good value for the Authority.
  • Goods and Services up to £5,000 but more than £1,000 can be commissioned on the basis of at least two competitive quotes. Quotations must be obtained and documented by a Director and consideration must be given to value for money and delivery capability before an order is placed.
  • Goods and Services up to £20,000 but more than £5,000 can be commissioned on the basis of at least three competitive quotes. Quotations must be obtained and documented by a Director and consideration must be given to value for money and delivery capability before an order is placed.
  • Goods and Services up to £50,000 but more than £20,000 must be advertised, either within a portal website created for contract advertising or an appropriate specialist journal and the Lee Valley Regional Park Authority Website.
  • Goods and Services which are under the EU thresholds and that are more than £50,000 must be let by one of the common competitive procurement procedures.
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