Tender

Banking Services

LONDON BOROUGH OF BARNET

This public procurement record has 1 release in its history.

Tender

15 Oct 2021 at 16:45

Summary of the contracting process

The London Borough of Barnet is seeking a provider for comprehensive banking services through an open tender process, titled "Banking Services." This procurement is classified under the banking services industry, with a delivery location in London, England. The tender was published on 15 October 2021 and the submission deadline is set for 15 November 2021, with an expected contract period commencing on 1 April 2022 and concluding on 31 March 2027, including a possible two-year extension.

This tender presents valuable opportunities for banks and financial service providers, particularly those focusing on local authority needs. The contract involves managing multiple bank accounts and may interest larger financial institutions that can offer diverse banking solutions, including internet banking services and credit facilities. Companies ready to partner with local authorities and fulfil the specific requirements of the tender could position themselves for significant growth in this sector.

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Notice Title

Banking Services

Notice Description

London Borough of Barnet requires a comprehensive money transmission banking service involving maintenance of numerous bank accounts(including accounts for schools), handling of paper, BACS/Faster Payment and CHAPS clearing, cash processing and other activities associated with local authority banking business. Credit facilities (i.e. overdraft facility, BACS limits, settlement risk limits) will also be required. The Council will require an internet banking service for balance/transaction reporting and payment initiation.The Council require a five year contract with extension option of 2 years.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-49dc2f2d-7310-46ca-985d-d210fc8550bf
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/db82a31f-bc1a-472c-86fc-f5fbac5bdbf6
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
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66110000 - Banking services

Notice Value(s)

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

Notice Dates

Publication Date
15 Oct 20214 years ago
Submission Deadline
15 Nov 2021Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2022 - 31 Mar 2027 Over 5 years
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
LONDON BOROUGH OF BARNET
Contact Name
Not specified
Contact Email
procurement@barnet.gov.uk
Contact Phone
+44 2083597212

Buyer Location

Locality
COLINDALE LONDON
Postcode
NW9 4EW
Post Town
North West London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI7 Outer London - West and North West
Small Region (ITL 3)
TLI71 Barnet
Delivery Location
TLI London

Local Authority
Barnet
Electoral Ward
Colindale North
Westminster Constituency
Hendon

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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