Award

Custodial Tenancy Deposit Scheme

CROWN COMMERCIAL SERVICE

This public procurement record has 3 releases in its history.

AwardUpdate

22 Feb 2018 at 15:00

AwardUpdate

07 Feb 2018 at 08:28

Award

18 Nov 2016 at 20:16

Summary of the contracting process

The Custodial Tenancy Deposit Scheme, initiated by the Crown Commercial Service, focuses on managing tenancy deposit protection as mandated by the Housing Act 2004. This procurement falls under the services category, specifically relating to banking and investment services. The tender is complete, following an open procedure with key phases including contract initiation and award. The contract, awarded on 30 July 2015, commenced on 1 April 2016 and is set to continue until 31 March 2021, with possible extensions allowing up to three additional years. Interested suppliers were required to submit their proposals by 24 April 2015.

This tender presents significant opportunities for businesses involved in IT infrastructure, deposit management, or dispute resolution services, particularly those capable of handling large data storage and providing secure deposit holding solutions. Companies with experience in both England and Wales, particularly large suppliers such as banking and administrative housing service providers, would be well-positioned to compete in this contracting process, capitalising on the essential services provided to landlords and tenants in the housing market.

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Notice Title

Custodial Tenancy Deposit Scheme

Notice Description

The Custodial Scheme was introduced in the Housing Act 2004, which made it mandatory that where a deposit is taken it is appropriately safeguarded by way of tenancy deposit protection schemes and for the establishment of dispute resolution procedures to provide for quick access to justice. These arrangements apply to all assured shorthold tenancies. The requirement covers the management and administration of the Custodial Tenancy Deposit Protection Scheme including: - creating new business and, for the Legacy Pool, transitioning and managing the existing deposits from the current provider; - having in place a robust IT infrastructure capable of storing a large amount of data; - providing a secure and reliable method of holding deposits; - returning the deposit to tenants at the end of the tenancy; - providing an Alternative Dispute Resolution (ADR) service to settle disputes between tenants and landlords/agents. The Service Provider will be required to generate enough interest on deposits to cover their costs. Ideally, they will also be able to generate sufficient interest on deposits to also pay a level of interest to tenants. The Service Provider will also be expected to ensure that the Scheme can operate successfully in both England and Wales. The Agreement will be for an initial period of 5 years to 31/03/2021, with an option to extend for 2 years, and then a further option to extend for an additional 1 year. Deadline for submission of proposals is Friday 24th April 2015, 17:00. Interested suppliers should register with the Bravo Solution e-tendering portal (https://communities.bravosolution.co.uk) in order to access the full set of tender documents and submit a proposal. Guidance on how to register is attached. Additional information: For full instructions and documents, please use the link above and follow the registration instructions attached.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-38d9ef56-adc8-11e6-9901-0019b9f3037b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/6a8c3cad-2a86-4443-8ae0-7e68d3892947
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

75 - Administration, defence and social security services


CPV Codes

66100000 - Banking and investment services

75123000 - Administrative housing 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 Feb 20188 years ago
Submission Deadline
24 Apr 2015Expired
Future Notice Date
Not specified
Award Date
29 Jul 201510 years ago
Contract Period
31 Mar 2016 - 31 Mar 2021 Over 5 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
CROWN COMMERCIAL SERVICE
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
SW1P 4DF
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

Supplier Information

Number of Suppliers
3
Supplier Names

COMPUTERSHARE INVESTOR SERVICES

TENANCY DEPOSIT SOLUTIONS

THE DISPUTE SERVICE

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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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