The Order of the Peregrine was given to those who had, by conspicuous and continuing effort, improved their own skills of war and provided inspiration to others. These skills included, but were not restricted to, scouting, archery, and armoured combat. Companions of the order may place the initials CPE after their names, and may wear a medallion bearing the badge: (Fieldless) A wing terminating in a hand argent maintaining a sword fesswise reversed Or.

Along with all of the other awards given by the Principality of Ealdormere, this award was closed on October 17, 1998 in preparation for Ealdormere's transition from Principality to Kingdom.