Award

Project Wise

HOMES ENGLAND (THE NAME ADOPTED BY THE HOMES AND COMMUNITIES AGENCY)

This public procurement record has 1 release in its history.

Award

16 Apr 2020 at 16:06

Award Notice
Summary of the contracting process

The public procurement process titled "Project Wise" is conducted by Homes England (the name adopted by the Homes and Communities Agency), based in London, UK. This tender falls under the classification of legal services and has recently completed the award stage. The contract, valued at £49,893, was awarded to Womble Bond Dickinson (UK) LLP and is set to commence on 23rd March 2020, concluding on 31st August 2020. Key deadlines include the tender submission period, which ended on 20th March 2020.

This tender presents a significant opportunity for businesses specialising in legal services, particularly those with experience in public sector contracts and financial frameworks. Small and medium-sized enterprises (SMEs) would be especially well-positioned to compete, given the focus on supporting smaller housing builders through the provision of development finance. Firms capable of providing comprehensive pre-instruction advice and developing structured loan processes are likely to find this project aligns well with their capabilities, fostering potential business growth in the legal services sector.

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Notice Information

Notice Title

Project Wise

Notice Description

Appointed legal panel firm will, in particular but without limitation, carry out the following in return for the appropriate fee, which should be capped at the amount mentioned in the Resource/Pricing Schedule: 1) Pre-instruction advice and discussions with Homes England personnel; 2) Preparation of the Framework agreement outlining the parameters of the lending alliance with XXX including the documentation and operation model of the lending alliance. Including: - Purpose: To support SME HBs to build more homes, more quickly, through the provision of development finance at up to 70% LTGDV. - Term: Initial 5 years to expire 30 June 2025. - Eligibility Criteria: Detailing the parameters within which XXX will operate (and be held to account) to deploy the loans, guiding risk and housing outputs in a structured manner. - Loan Process: Describing the entire loan process, including pipeline/origination, deal structuring, credit process, due diligence, contracting, Homes England accession via a Lending Accession Request (template to be created), portfolio management, repayment and protocols in distress. - Scope of various XXX roles: Agent/Lender of Record, Loan Originator & Servicer, Security Trustee, Account Bank, including specific Duty/Reliance owed to Homes England in each regard. - Ongoing Periodic MI Suite: To include quarterly output forecasting, a quarterly information pack detailing investment specific progress updates and emerging risk issues, portfolio summary data and details of emerging pipeline. - Security: will be taken and registered on a loan specific basis in favour of XXX in their capacity as Security Trustee. It will be taken via XXX standard debenture and charge documents which will have been pre-agreed as acceptable by both parties. In order to minimise the burden on the smaller target borrowers the security will be exercised over the loans and recovered by XXX (acting as Security Trustee). The Security Trustee will in turn administer the security in accordance with the Inter-Creditor Agreement. - Transferability: to be discussed, but Homes England will seek to limit the ability of XXX to transfer their economic interest in the loans. - Other provisions including: Representations and Warranties given, Consequences of Breach, Costs, Termination, Publicity and Exclusivity. Framework Agreement Appendices: 1.) Template XXX Term Sheet. 2.) Template XXX Credit Paper. 3.) Template XXX Loan Agreement with Homes England amendments. 4.) Management Information Requirements and Format. 5.) Template Professional Appointments including Addressee wording. 6.) KYC Requirements. 7.) Framework Sub-Participation Agreement (incorporating Inter-Creditor Agreement) including form of Lending Accession Request and Homes England payment confirmation schedule. Please find a description of the Alliance operating structure in Appendix I and the reporting requirement (XXX to Homes England) in Appendix II attached.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-60b36eea-2e2e-4490-a55a-574fd7df163d
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/4d052020-5a47-43f2-ab45-8af073431c8f
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not applicable
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79100000 - Legal services

Notice Value(s)

Tender Value
£49,893 Under £100K
Lots Value
Not specified
Awards Value
£49,893 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
16 Apr 20205 years ago
Submission Deadline
20 Mar 2020Expired
Future Notice Date
Not specified
Award Date
21 Mar 20205 years ago
Contract Period
23 Mar 2020 - 31 Aug 2020 1-6 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
HOMES ENGLAND (THE NAME ADOPTED BY THE HOMES AND COMMUNITIES AGENCY)
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
SW1H 0TL
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
TLI London
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

WOMBLE BOND DICKINSON (UK

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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