Award

Contract for Banking Services

WELLAND PROCUREMENT UNIT

This public procurement record has 3 releases in its history.

Award

05 Feb 2018 at 10:07

Award Notice
TenderAmendment

14 Jun 2017 at 07:04

Tender Notice
Tender

12 Jun 2017 at 14:32

Tender Notice
Summary of the contracting process

Rutland County Council, through the Welland Procurement Unit, is conducting a procurement process for a "Contract for Banking Services". This contract is classified under the "Banking services" industry category and is located in the East Midlands, United Kingdom. The procurement method is an open procedure, and the tender period concluded on 28 July 2017. The contract is set to begin on 1 April 2018 and has a total value of £91,000, lasting for an initial term of five years, with an option to extend for an additional two years.

This banking services tender presents significant opportunities for businesses involved in financial services, particularly those providing money transmission and banking solutions. Suitable competitors may include established banks and financial institutions capable of managing local authority banking arrangements, including cash handling, BACS and CHAPS transactions, and providing internet banking services. With the long contract duration, firms can expect sustainable growth and recurring revenue opportunities by securing this partnership with a local council.

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Notice Information

Notice Title

Contract for Banking Services

Notice Description

Banking services. Rutland County Council requires a money transmission banking service to include the maintenance of bank accounts, cash and cheque handling, BACS and CHAPS transaction processing and other services associated with local authority banking arrangements. An internet banking service for balance/transaction reporting and payment initiation will also be required. The contract will be for an initial period of 5 years with the option to extend for a further 2 years. The contract will commence on 1 April 2018.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-6017bdbc-2aed-48e4-a2de-b22187ec643d
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/084604b3-3734-4272-b07c-fe1634533882
Current Stage
Award
All Stages
Tender, 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

CPV Codes

66110000 - Banking services

Notice Value(s)

Tender Value
£91,000 Under £100K
Lots Value
Not specified
Awards Value
£28,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
5 Feb 20188 years ago
Submission Deadline
28 Jul 2017Expired
Future Notice Date
Not specified
Award Date
3 Sep 20178 years ago
Contract Period
31 Mar 2018 - 31 Mar 2024 Over 5 years
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
WELLAND PROCUREMENT UNIT
Contact Name
Steve Coe
Contact Email
rccfinance@rutland.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
OAKHAM
Postcode
LE15 6HP
Post Town
Leicester
Country
England
Major Region (ITL 1)
TLF East Midlands (England)
Basic Region (ITL 2)
TLF2 Leicestershire, Rutland and Northamptonshire
Small Region (ITL 3)
TLF22 Leicestershire CC and Rutland
Delivery Location
TLF East Midlands (England)
Local Authority
Rutland
Electoral Ward
Oakham South
Westminster Constituency
Rutland and Stamford

Supplier Information

Number of Suppliers
1
Supplier Name

LLOYDS BANK

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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