Award

HSBC contract for their solicitation work (Solicitation Agency Agreement) (con_11282)

DEPARTMENT FOR EDUCATION

This public procurement record has 1 release in its history.

Award

31 Aug 2021 at 18:50

Award Notice
Summary of the contracting process

The Department for Education, located in London, has recently concluded a contract for HSBC UK Bank PLC, pertaining to solicitation work related to the modification of the LIBOR to SONIA base rate. This procurement, classified under financial and insurance services, was executed through a direct procurement method, specifically a single tender action below the threshold, with a total value of £75,000. The contract period commenced on 25 March 2021 and concluded on 30 September 2021. The award notice was published on 31 August 2021.

This tender presents valuable growth opportunities for businesses, particularly those offering financial consultancy or related services. Small and medium-sized enterprises (SMEs) with expertise in pricing methodologies and compliance with regulatory standards would be well-suited to compete in future tenders of a similar nature, enabling them to leverage their skills in a competitive market. Businesses looking to establish partnerships with large organisations like HSBC may find advantageous synergies in these procurement processes.

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Notice Information

Notice Title

HSBC contract for their solicitation work (Solicitation Agency Agreement) (con_11282)

Notice Description

The contracted work relates to solicitation of the LIBOR to SONIA base rate modification. Within the scope of this work, HSBC determined the pricing methodology for the amendment, liaised with the Rating Agencies to confirm no adverse effects of this methodology, determined the applicable adjusted margin on the pricing date and responded to queries from noteholders.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-4cce755e-d5e2-4e59-afc2-8c045414aeef
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/6934f0a1-6f76-47c0-80b4-765e00a367fc
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Single tender action (below threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£75,000 Under £100K
Lots Value
Not specified
Awards Value
£75,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
31 Aug 20214 years ago
Submission Deadline
18 Mar 2021Expired
Future Notice Date
Not specified
Award Date
25 Mar 20214 years ago
Contract Period
25 Mar 2021 - 30 Sep 2021 6-12 months
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR EDUCATION
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 3BT
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
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
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

HSBC UK BANK

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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