Award

Sponsor Bank Contract

DEPARTMENT FOR WORK AND PENSIONS

This public procurement record has 1 release in its history.

Award

04 Jan 2019 at 10:19

Summary of the contracting process

The Department for Work and Pensions (DWP) has awarded the "Sponsor Bank Contract" for financial and insurance services, which was published on 4th January 2019. This contract is valued at £497,200 and involves a direct procurement method through a single tender action. The contract commenced on 1st January 2019 and is set to conclude on 30th June 2020. The procurement process was finalised with the award made on 20th December 2018, prior to the contract commencement.

This contract presents a significant opportunity for larger financial institutions that specialise in services aligned with banking and insurance. Companies focused on providing comprehensive financial services can leverage their expertise to compete effectively. Given the specific nature of this award, businesses with a substantial scale and proven capability in delivering similar contracts would be well-positioned to pursue future opportunities within the public procurement landscape.

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Notice Title

Sponsor Bank Contract

Notice Description

The award of the DWP Sponsor Bank contract

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ca6379d2-f0fa-4467-954e-85b230b334f2
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c757603b-6ed3-4796-a137-66db53b39fa7
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Single tender action (below threshold)
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
£497,200 £100K-£500K
Lots Value
Not specified
Awards Value
£497,200 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
4 Jan 20197 years ago
Submission Deadline
31 Dec 2018Expired
Future Notice Date
Not specified
Award Date
20 Dec 20187 years ago
Contract Period
1 Jan 2019 - 30 Jun 2020 1-2 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR WORK AND PENSIONS
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 9NA
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
Not specified

Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

HSBC

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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