The PRI is committed to ensuring a fair, transparent, cost effective and accountable process in the purchasing and provision of goods and services to its signatories and other stakeholders. The PRI Association has a Procurement Policy in place to provide direction to staff in relation to tendering, contracting and procurement activity.
The policy aims to establish a framework that will:
- deliver best value for money in the acquisition of goods and the delivery of services;
- ensure the efficient, effective and responsible use of resources;
- ensure accountability and transparency;
- ensure that purchasing activities are in accordance with its legislative and common law responsibilities;
- encourage competition;
- embrace environmentally sustainable procurement;
- appropriately manage risk.
For items of Major Procurement (where goods and/or services required are estimated to cost between £5,000 and £30,000), a competitive pricing process is to be used.
For Formal Tenders (where goods and/or services required are estimated to cost more than £30,000) the purchase may be submitted to formal tender unless the PRI Board approves that the acquisition should not be subject to a tender process.
When practical, major procurements and formal tenders shall be posted on the PRI website and included in newsletters for 30 days.
In all cases, the Principle/s to which the procurement relates should be stated in the procurement specification. All prices are to be submitted in writing and awarded on merit by the relevant Director following consultation with the Managing Director or Director of Operations & Finance.