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Is enforced when you have Company Approvals → New products must be approved checkbox selected. This type of approval is useful if a requestor wants to introduce a new product or a service that hasn't been purchased before and the company policy mandates that the new products must get reviewed first.

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Finally, we have one more approval type - and that is based on the Gross value of a purchase request. You can configure your own tiers under Company Approvals → Company Approval Tiers. Consider the following example of tiers configuration:

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