Award

Legal Services Framework

BANK OF ENGLAND

This public procurement record has 1 release in its history.

Award

01 May 2025 at 10:38

Summary of the contracting process

The procurement process led by the Bank of England involves a Legal Services Framework concerning the provision of Loan and Securities Collateral Legal Panel. This process falls under the legal services industry, specifically categorised under CPV code 79100000, and is set in England, United Kingdom. The procurement was conducted as a restricted procedure above the threshold and has reached the award stage with an active status as of 1st May 2025. The framework is valued at £3,000,000, with the contract period starting on 31st October 2024 and extending until 30th October 2027. The procurement was inclusive of small and medium-sized enterprises (SMEs), although not targeting voluntary, community, and social enterprises (VCSEs).

This tender creates substantial business growth opportunities for legal service providers, particularly those with expertise in loan and securities collateral legal matters. The selective procurement method favours established entities capable of navigating the complexities of the restricted procedure. It is especially suitable for larger legal firms with a strategic interest in expanding their footprint within the UK's financial sector, as evidenced by the awarded contracts to firms like Burges Salmon LLP, Ashurst LLP, and Freshfields LLP. Participating in such frameworks can enhance a business's profile, offering long-term revenue potential and the opportunity to establish or strengthen relationships with key financial institutions like the Bank of England.

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Notice Title

Legal Services Framework

Notice Description

For the provision of Loan and Securities Collateral Legal Panel.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-1c19fd4c-77c3-48fd-be5c-974178d1a14f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/4da3b9b6-5b5a-44d0-b6d3-b3618ea16188
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

79100000 - Legal services

Notice Value(s)

Tender Value
£3,000,000 £1M-£10M
Lots Value
Not specified
Awards Value
£3,000,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
1 May 20259 months ago
Submission Deadline
10 Apr 2024Expired
Future Notice Date
Not specified
Award Date
25 Jul 20241 years ago
Contract Period
31 Oct 2024 - 30 Oct 2027 2-3 years
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Not specified
Contact Email
corporate.contracts@bankofengland.co.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)

Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
3
Supplier Names

ASHURST

BURGES SALMON

FRESHFIELDS

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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