OBS_VALUE: Petty cash purchases are prescribed for contracts up to R2 000, written or verbal quotations are prescribed for contracts over R2 000 but under R10 000, written price quotations should be obtained for contracts over R10 000 but under R200 000, and competitive bidding should be used for contracts over R200 000. The rule, therefore, is that the procurement of goods or services above R200 000 is subject to formal procedures, that is, public tender procedures. (1.00 USD = 14.7297 ZAR)