Notice Information
Notice Title
UKEF Corporate Loss Given Default (LGD) Model for IFRS 9 - Expression of Interest (EOI)
Notice Description
UK Export Finance ("UKEF") is inviting expressions of interest from organisations that would be interested in delivering a loss given default ("LGD") model ("the Contract") in compliance with the International Financial Reporting Standards 9 ("IFRS 9") to the Contracting Authority. The LGD model will need to be operational from 1 April 2023. The Supplier will provide a model that allows UKEF to estimate LGDs for corporate obligors under different macroeconomic scenarios (the Supplier does not need to provide the macroeconomic forecasts that will underpin the scenarios - the scenarios will be procured separately) in order to make the measurement of Expected Credit Losses ("ECL"), compliant with the IFRS 9 standard. This is a new requirement. It is a key requirement for the procurement that the LGD model will be IFRS 9 compliant, so the supplier will be required to demonstrate that the LGD model is "tried and tested" (i.e. already in use by organisations who are IFRS 9 compliant and/or reviewed by auditors). UKEF uses an LGD methodology whereby estimates of Enterprise Values ("EV") are utilised in order to generate an estimate of a corporate obligor's LGD using a "liabilities waterfall" approach (under a base scenario). The IFRS 9 corporate LGD model is required to work within UKEF's current process and not require changes to UKEF's estimates of LGDs under the base scenario. Eligibility This process is open to any organisation that can meet our requirements, which are as follows: - The model is shown to be compliant with IFRS 9 (i.e. used by organisations that currently comply with IFRS 9 and/or tested by auditors). - The model can be delivered in a fully operational state by 1st April 2023. - The model integrates with existing UKEF LGD modelling approach, as outlined above. This Expression of Interest is not a commitment to buy and DIT reserves the right not to proceed with this procurement. For further information on the requirement, please see attached the document titled Requirements_DRAFT-UKEF_LGD_Model which is the draft high level requirements for this opportunity. Interested parties should email their expression of interest to commercialddat@trade.gov.uk by 17.00 hours Thursday 12th January 2023.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-b5fd17-26df2780-6457-4d4c-b0f1-a5167706f393
- Publication Source
- Contracts Finder
- Latest Notice
- https://www.contractsfinder.service.gov.uk/Notice/017af647-ff57-4de9-b847-f05e5e15d788
- Current Stage
- Planning
- All Stages
- Planning
Procurement Classification
- Notice Type
- Market Engagement Notice
- Procurement Type
- Standard
- Procurement Category
- Not specified
- Procurement Method
- Not Specified
- Procurement Method Details
- Not specified
- Tender Suitability
- SME
- Awardee Scale
- Not specified
Common Procurement Vocabulary (CPV)
- CPV Divisions
73 - Research and development services and related consultancy services
-
- CPV Codes
73000000 - Research and development services and related consultancy services
Notice Value(s)
- Tender Value
- Not specified
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 22 Dec 20223 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- 12 Jan 2023Expired
- Award Date
- Not specified
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Planning
- Lots Status
- Not Specified
- Awards Status
- Not Specified
- Contracts Status
- Not Specified
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- DEPARTMENT FOR INTERNATIONAL TRADE
- Contact Name
- Available with D3 Tenders Premium →
- Contact Email
- Available with D3 Tenders Premium →
- Contact Phone
- Available with D3 Tenders Premium →
Buyer Location
- Locality
- LONDON
- Postcode
- SW1A 2DY
- Post Town
- South West 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
- Not specified
-
- Local Authority
- Westminster
- Electoral Ward
- St James's
- Westminster Constituency
- Cities of London and Westminster
Further Information
Notice Documents
-
https://www.contractsfinder.service.gov.uk/Notice/017af647-ff57-4de9-b847-f05e5e15d788
22nd December 2022 - Early engagement notice on Contracts Finder -
https://www.contractsfinder.service.gov.uk/Notice/a5dd94f1-cdf5-4504-9f6e-13ba8b808d0e
22nd December 2022 - Early engagement notice on Contracts Finder
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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