Tender

Loan and Securities Collateral Legal Panel

BANK OF ENGLAND

This public procurement record has 2 releases in its history.

TenderAmendment

19 Jun 2023 at 16:10

Tender Notice
Tender

19 Jun 2023 at 15:59

Tender Notice
Summary of the contracting process

The Bank of England is inviting tenders for the "Loan and Securities Collateral Legal Panel" project. The procurement concerns legal services related to collateral eligibility for market operations. The contract value is £3,600,000 GBP, with a selective procurement method and a tender deadline of July 14, 2023. The contract period spans from January 15, 2024, to January 14, 2027. The buying organisation is the Bank of England, with the project falling under the services category in the legal services industry.

This tender opportunity caters to law firms interested in conducting legal reviews on collateral for the Bank's operations. Businesses involved in legal services, particularly those with expertise in collateral due diligence, are well-suited to compete. The project offers a long-term contract with significant value, providing stable revenue streams for the selected firms. Law firms seeking growth opportunities within the financial sector should consider participating in this tender process to expand their clientele and establish a relationship with the Bank of England.

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Notice Information

Notice Title

Loan and Securities Collateral Legal Panel

Notice Description

The Bank of England (the "Bank") lends through its market operations against eligible collateral delivered by firms. This takes the form of either loan or securities collateral. To ensure that the collateral is eligible for the Bank's operations, legal due diligence is required, particularly when it comes to loan collateral. The Bank is therefore seeking 3 law firms to be part of a framework and to conduct legal reviews relating to collateral on a case-by-case basis. The overall contract value includes the costs of all reviews, which will ultimately be recharged to the firm that is seeking to position the collateral with the Bank. The procurement documents are available for unrestricted and full direct access, free of charge, at https://supplierlive.proactisp2p.com/Account/Login

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-cbe67b6a-b773-4f4e-960a-c7d1ba788ba2
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/f4875d9a-2fc8-4632-ace1-79ca6311d018
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure (above threshold)
Tender Suitability
Not specified
Awardee Scale
Not specified

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
£3,600,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
19 Jun 20232 years ago
Submission Deadline
14 Jul 2023Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
15 Jan 2024 - 14 Jan 2027 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Corporate Contracts
Contact Email
corporate.contracts@bankofengland.co.uk
Contact Phone
02034618396

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
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
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

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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