Peer review is a fundamental principle in academic research, and a key tool in developing strong research proposals. Many funders also ask that institutions demonstrate that they have strong peer review and quality control processes in place. As such, the University has an over-arching Peer Review policy (see below) and each school has specific processes in place to support peer review for proposals seeking external funding.
The university policy can be seen here:
Each school has its specific procedures to meet the policy which can be found in your school's pages.