Award

Early Payment Scheme

KENT COUNTY COUNCIL

This public procurement record has 1 release in its history.

Award

07 May 2024 at 10:43

Award Notice
Summary of the contracting process

The Kent County Council (KCC) has awarded a contract to Oxygen Finance Limited for an Early Payment Scheme. The scheme is part of a 5-year contract that enables KCC's external suppliers to receive early payments in exchange for an early payment discount. The contract, procured through the NEPO Early Payment Service, falls under the financial and insurance services category. The tender had a selective procurement method and a contract period starting on May 13, 2024, and ending on May 12, 2029.

This procurement opportunity with KCC can benefit businesses seeking to provide financial and insurance services, particularly those well-versed in early payment schemes. The award to Oxygen Finance Limited presents an avenue for business growth by tapping into public sector spend and tender data. Businesses with expertise in recovery audit services may find this contract particularly suited to their service offerings. The location of the contract is in ME14 1XQ, and the deadline for the tender period was on May 1, 2024.

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Notice Information

Notice Title

Early Payment Scheme

Notice Description

Kent County Council (KCC) have appointed Oxygen Finance Limited on a 5-year contract to provide an Early Payment Scheme along with additional associated services. The Early Payment Scheme will enable KCC's external suppliers who choose to participate to be paid earlier than their contracted payment terms in exchange for an early payment discount. The additional services associated with the Early Payment Scheme are Oxygen Finance Insights and a Recovery Audit Service. The Oxygen Finance Insights service allows for public sector organisations to have access to valuable public sector spend and tender data. The Recovery Audit Service allows for Oxygen Finance to carry out recovery audits for KCC. This contract was awarded to Oxygen Finance Limited via the NEPO (North East Procurement Organisation) Early Payment Service (NEPO521).

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-7b6dad2a-df4b-43a2-8a0b-792919fd73dd
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/5f9477a8-b6e2-4b9d-b167-0778c9df205e
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
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
£1,000,000 £1M-£10M
Lots Value
Not specified
Awards Value
£1,000,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
7 May 20241 years ago
Submission Deadline
1 May 2024Expired
Future Notice Date
Not specified
Award Date
2 May 20241 years ago
Contract Period
12 May 2024 - 12 May 2029 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
KENT COUNTY COUNCIL
Contact Name
Alex Whelan
Contact Email
alexander.whelan@kent.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
MAIDSTONE
Postcode
ME14 1XX
Post Town
Rochester
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ4 Kent
Small Region (ITL 3)
TLJ45 Mid Kent
Delivery Location
Not specified
Local Authority
Maidstone
Electoral Ward
Penenden Heath
Westminster Constituency
Maidstone and Malling

Supplier Information

Number of Suppliers
1
Supplier Name

OXYGEN FINANCE

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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