Guidance on Procurement for Applicants
Guidance on Procurement for Applicants
Many companies are concerned about the implications of procurement regulations when engaging with public funds and sometimes see them as unnecessarily onerous. Given the amount of European money that is placed within this Fund, however, certain understandable requirements are placed on the end beneficiary to ensure that money is spent transparently, fairly and provides reasonable value for money. We at the Advantage Proof of Concept Grant Fund have a responsibility to ensure that public money is used properly and will therefore guide you in implementing suitable procurement standards. Proper procurement shouldn't take you more than a few hours ordinarily, however, that time can assist you in making the right business decision and provide us with reassurance and appropriate documentation to satisfy public auditors.
We will support and guide you in the procurement process but don't worry, we won't interfere in the business decision of who to select; The Fund only wishes to make sure the process is fair and transparent. Equally don't be concerned that best value means cheapest, we want to see the best contractor appointed to deliver your project.
Grants awarded by the Advantage Proof of Concept Grant Fund are partially funded by the European Regional Development Fund, therefore any money spent must evidence that appropriate procurement processes have been used.
Whilst the fund will provide guidance, applicants should be aware that as the end beneficiary, appropriate procurement is their responsibility and may be audited by representatives of the fund, the UK government or the European Commission.
When should I be obtaining quotes and how many are needed?
The Advantage Proof of Concept Grant Fund will be able to guide you on procurement exercises; however, general guidelines are given below:
| £0.01 up to £10,000 | Minimum of three oral quotes with records being kept |
|---|---|
| £10,001 up to £20,000 | Minimum of three written quotes, based on a clear written specification of requirement |
| £20,001 and above | Normally minimum of 3 formal competitive tenders invited |
Please note these values represent thresholds for individual cost headings not combined costs for the entire project.
Procurement thresholds apply to the value of goods and services gross of all VAT.