Award

4329-1-Professional Services-N-Contract CICA Retained Awards

MINISTRY OF JUSTICE.

This public procurement record has 1 release in its history.

Award

24 Jan 2017 at 12:12

Summary of the contracting process

The Ministry of Justice is seeking to award a contract titled "4329-1-Professional Services-N-Contract CICA Retained Awards," focused on banking and investment services. This procurement process, currently at the Award stage, relates to a commercial banking arrangement for retained awards from the Criminal Injuries Compensation Authority (CICA) to applicants under the age of 18. The tender period for bids concluded on 20th October 2016, with the contract period commencing on 19th November 2016 and running until 18th November 2017. The relevant service location encompasses various regions, including the United Kingdom and British Overseas Territories.

This contract offers significant growth opportunities for businesses involved in banking and investment services, particularly those equipped to manage interest-bearing accounts for young beneficiaries. As the awarded supplier, Barclays Bank Plc has set a precedent that other established banks or financial institutions could leverage by participating in future tenders of a similar nature. The procurement's focus on specialised services targeting vulnerable demographics highlights the market potential for financial institutions and service providers committed to delivering tailored solutions in this sector.

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Notice Title

4329-1-Professional Services-N-Contract CICA Retained Awards

Notice Description

Commercial banking arrangement for awards made by the Criminal Injuries Compensation Authority (CICA) to applicants under the age of 18 who have been the victim of a violent crime. These 'retained awards' are held in individual interest bearing accounts until the recipient reaches the age of 18.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-166d4a05-8c5a-4196-a2f1-1dafe99ed77f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/bb43ea0e-7c80-435d-a377-b9434a36a36c
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66100000 - Banking and investment services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
24 Jan 20179 years ago
Submission Deadline
20 Oct 2016Expired
Future Notice Date
Not specified
Award Date
19 Oct 20169 years ago
Contract Period
19 Nov 2016 - 18 Nov 2017 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
MINISTRY OF JUSTICE.
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LEEDS
Postcode
LS2 7AF
Post Town
Leeds
Country
England

Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE4 West Yorkshire
Small Region (ITL 3)
TLE42 Leeds
Delivery Location
Not specified

Local Authority
Leeds
Electoral Ward
Little London & Woodhouse
Westminster Constituency
Leeds Central and Headingley

Supplier Information

Number of Suppliers
1
Supplier Name

BARCLAYS BANK

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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