‘All procurement requirements valued at more than $100,000 must be competitively tendered, and any contracts...

Explanation

This is an example of a procurement threshold.

Below the threshold, one set of actions; above the threshold, another set of actions.

As an aside, one relatively common and undesirable practice is to 'disaggregate' a requirement - break a requirement down into smaller units, to avoid having to conform with the rule. Such behav-iour, can be, in some situations, be unlawful, and can bring an organisation and possibly the individ-uals concerned into disrepute.

I hope you can see why it is none of the other answer options available.