Award

Levy Collection Services

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 1 release in its history.

Award

24 Apr 2024 at 15:43

Award Notice
Summary of the contracting process

The Financial Reporting Council (FRC) has awarded a contract for Levy Collection Services. The FRC aims to uphold high standards of corporate governance, reporting, and audit, funded in part through a levy on listed companies, large private entities, and public sector organisations. The contract involves services like invoice issuance, payment requests, and customer service. The contract has a value of £406,479.48 GBP and has been completed with a contract period starting from June 1, 2024, to May 31, 2027.

This tender opportunity created by the FRC presents a chance for businesses to provide Levy Collection Services tailored to the financial and insurance services industry. SMEs with expertise in invoice management, reconciliation, and customer service are well-suited to compete. The tender, conducted through an open procedure, offers a contract worth £200,000 GBP with a 36-month duration and an option to extend for an additional 12 months, starting from June 1, 2024, to May 31, 2028.

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Notice Information

Notice Title

Levy Collection Services

Notice Description

***THIS IS A CONTRACT AWARD NOTICE*** The purpose of the Financial Reporting Council (FRC) is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. Our direct stakeholders include companies, institutional investors, auditors, actuaries, accountants and their respective professional bodies. Our indirect stakeholders include retail shareholders, suppliers, employees, customers, communities, pensioners and savers, and financial institutions, all of whom have an interest in the health of companies and other organisations within our existing and future regulatory scope and in the success of the UK corporate sector as a whole. By agreement with DBT and HM Treasury, the FRC is funded partly through a levy on the following organisations that are subject to, or have regard to, FRC regulatory requirements in preparing their accounts: * Companies listed on the London Stock Exchange, and UK AIM and AQUIS Market group companies with an equity share listing. * Large private entities with a turnover of PS500m or more. Subsidiaries of UK listed companies with a turnover of PS500m or more are invoiced on the same invoice as their parent company. * Standard Global Depository Receipt companies ('GDRs'). * Government Departments and other public sector organisations that publish accounts. Further information on the FRC's funding can be found: - https://www.frc.org.uk/about-the-frc/funding This procurement activity sought to engage an organisation to undertake Levy Administration Collection Services, including but not limited to * Issuing and sending all invoices to all Levy Payers * Reminders and Chasers * Payment request enquiries * Reconciliation of Levies received * Managing Refunds * Operation and Customer Service * Account Management * Reporting and MI PLEASE NOTE THIS OPPORTUNITY WAS ALSO PUBLISHED ON FIND A TENDER ***AWARD NOTICE*** Additional information: THIS IS A CONTRACT AWARD NOTICE. THIS TENDER HAS BEEN COMPLETED.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-8a9f4f74-2bb4-4539-947a-f7028fb8601d
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/5403a4cf-de6d-4298-96b6-fb156546ff52
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£406,479 £100K-£500K
Lots Value
Not specified
Awards Value
£406,479 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
24 Apr 20241 years ago
Submission Deadline
4 Mar 2024Expired
Future Notice Date
Not specified
Award Date
3 Apr 20241 years ago
Contract Period
31 May 2024 - 31 May 2027 2-3 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
THE FINANCIAL REPORTING COUNCIL LIMITED
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
EC2Y 5AS
Post Town
Central 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
Not specified
Local Authority
City of London
Electoral Ward
Bassishaw
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

ADETIQ

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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