Award

Financial Resilience - (B) Ring Fence Protections

WATER SERVICES REGULATION AUTHORITY (OFWAT)

This public procurement record has 1 release in its history.

Award

11 Mar 2020 at 15:59

Award Notice
Summary of the contracting process

The Water Services Regulation Authority (Ofwat) is seeking to enhance financial resilience with their recent tender titled "Financial Resilience - (B) Ring Fence Protections". This procurement falls under the category of general management consultancy services and is specifically located in the West Midlands and London, United Kingdom. The procurement method is a negotiated procedure without prior publication, and it has reached the award stage, with the contract value set at £36,350. The contract period commenced on 17th February 2020 and is due to conclude on 31st March 2020. The tender period ended on 5th February 2020.

This contract represents a valuable opportunity for consultancy firms, especially small and medium-sized enterprises (SMEs) that specialise in financial resilience and management consultancy. Companies that possess expertise in tailoring financial strategies and early intervention methods to support organisations facing financial difficulties will be well-suited to compete for this contract. The successful supplier will collaborate closely with Ofwat to innovate and refine their approaches, creating potential for substantial growth and development in the consultancy sector.

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Notice Information

Notice Title

Financial Resilience - (B) Ring Fence Protections

Notice Description

Work requirement (B) - Ring Fence Protections We want to continue to ensure that our tools and approach maintain the high levels of protection currently enjoyed by the Appointee and its customers. We are constantly looking for ways to refine and improve our approach, and the Supplier will be supporting us in this process, for example considering a more targeted approach to companies who may be facing deterioration in their financial position to ensure early intervention. This will include looking at how Ofwat might build on the work already underway to facilitate a broader, deeper reflection of a company's financial resilience. This would include how we could meet our intention to rely less on single triggers and ratings agencies, to a more rounded and holistic approach to assessing financial resilience. We want to make sure our monitoring and actions are focused in the right areas, and consequently whether our tool (including the licence) could be developed further. We expect the Supplier to work closely with the Ofwat team to deliver this work. We are not seeking a long form written report, however we would like the Supplier to provide detailed input into the development of the policy in this area and to provide challenge to and be challenged by the Ofwat team in respect of alternative approaches that we might take. Additional information: For Further Information;please contact procurement@ofwat.gov.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-b110c1ab-f0ed-4a80-a404-859dc95d2c26
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/a60e92b6-7d14-44b2-8ea2-4e8c8f7e8e73
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other - Negotiated Procedure Without Prior Publication Below OJEU
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79411000 - General management consultancy services

Notice Value(s)

Tender Value
£36,350 Under £100K
Lots Value
Not specified
Awards Value
£36,350 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
11 Mar 20205 years ago
Submission Deadline
5 Feb 2020Expired
Future Notice Date
Not specified
Award Date
14 Feb 20206 years ago
Contract Period
17 Feb 2020 - 31 Mar 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
WATER SERVICES REGULATION AUTHORITY (OFWAT)
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BIRMINGHAM
Postcode
B5 4UA
Post Town
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
TLG West Midlands (England), TLI London
Local Authority
Birmingham
Electoral Ward
Ladywood
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

BDO

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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