Tender

GB-Rickmansworth: Treasury Management Services

THREE RIVERS DISTRICT COUNCIL

This public procurement record has 1 release in its history.

Tender

23 Aug 2024 at 13:40

Tender Notice
Summary of the contracting process

The procurement process initiated by Three Rivers District Council (TRDC) seeks to acquire treasury management advisory services under an open procedure, focusing on the finance shared service arrangement with Watford Borough Council (WBC). The contract, set to commence on 1st November 2024 and potentially extend until 31st October 2029, covers the delivery of advisory services for both councils. The tender, classified under CPV code 66600000 (Treasury services), is in the 'services' category and operates within the East of England region. Interested parties have until 20th September 2024 to submit their proposals.

This tender presents significant opportunities for businesses, particularly small and medium enterprises (SMEs) specialising in financial advisory services, to secure a key client in the form of two local councils. By delivering high-quality treasury management insights and advice, businesses can enhance their portfolios and build a stronger reputation in the public sector. The open procedure method ensures a transparent and competitive environment, allowing capable businesses to demonstrate their expertise and benefit from a stable, long-term contract that supports their growth objectives.

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Notice Information

Notice Title

GB-Rickmansworth: Treasury Management Services

Notice Description

The finance function for Three Rivers District Council (TRDC) and Watford Borough Council (WBC) is delivered under a shared service arrangement, which is hosted by TRDC. The Shared Finance Service undertakes the treasury management function for both councils. The finance team recognises that gaining access to both general and specific advice concerning treasury management from an external provider would likely result in positive benefits, over costs, to both authorities. The contract with our current treasury management advisor ends on 31st October 2024. Therefore, the finance shared service is looking to procure treasury management advisory services, by inviting those organisations that meet the requirements as detailed in this specification to submit a tender to bid for said services. The new contract will run for an initial period of three years from 1st November 2024 to 31st October 2027 with the possibility of extending the contract for a further two years after the initial three years. The contact will be let either as two individual contracts for each authority or as a single joint contract across the two authorities, however in the event of a single joint contract award, it is expected that the liability cover and duty of care would be extended to both authorities. The specification of requirements will be the same for both authorities and the scoring mechanism will be done as one, with the same outcome and contract award for both authorities. Please find the tender documents and instructions as part of this tender Additional information: The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-41548517-36ba-4a3f-927d-42a18190c299
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1de69639-8f02-40a3-8fa6-570438a00e11
Current Stage
Tender
All Stages
Tender

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66600000 - Treasury services

Notice Value(s)

Tender Value
£50,000 Under £100K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
23 Aug 20241 years ago
Submission Deadline
20 Sep 2024Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Nov 2024 - 31 Oct 2029 Over 5 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THREE RIVERS DISTRICT COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
RICKMANSWORTH
Postcode
WD3 1RL
Post Town
Watford
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH2 Bedfordshire and Hertfordshire
Small Region (ITL 3)
TLH27 South West Hertfordshire
Delivery Location
Not specified
Local Authority
Three Rivers
Electoral Ward
Rickmansworth Town
Westminster Constituency
South West Hertfordshire

Further Information

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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