Without a written policy, buyers guess: some split orders to stay under a limit, others send routine purchases to the board. This template sets the rules out on eight pages, from principles and spending thresholds to quotes, approval authority, conflicts of interest and gifts, and the records auditors expect. Each rule carries one worked example, so a budget holder can follow it without asking finance.

The sample follows Zephyrine Works, a fictional company with four spending bands from up to £800 to over £40,000, a risk register, a purchase record form and a two-column page on records and exceptions. Replace the limits with your own, name your real approvers, write your single-source rule and set a review date.