Award

Investments Account Bank

HOMES ENGLAND (THE NAME ADOPTED BY THE HOMES AND COMMUNITIES AGENCY)

This public procurement record has 2 releases in its history.

Award

11 Dec 2018 at 15:48

Award Notice
Tender

02 Nov 2018 at 15:27

Tender Notice
Summary of the contracting process

The procurement process titled "Investments Account Bank" is undertaken by Homes England (the name adopted by the Homes and Communities Agency), a key player in the financial services sector. This open tender aims to establish a framework of banks that will facilitate the management of investment accounts required by borrowing entities. The procurement opens on 2nd November 2018, with a tender period ending on 23rd November 2018. The contract is set to commence from 1st January 2019 and runs through to 1st January 2023, with a total estimated value of £1,200,000 and a minimum value of £800,000. The services are classified under financial and insurance services, with delivery territories including the United Kingdom and other regions worldwide.

This opportunity could lead to significant business growth for financial institutions, particularly those specialising in banking and investment services. Companies with capabilities in managing investment accounts under joint signatory arrangements, as well as proficient banking services, would be well-positioned to compete. Additionally, with a focus on providing security and effective operation of these accounts, businesses that can demonstrate compliance with regulatory frameworks and have a strong operational history will likely find this tender appealing.

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Notice Information

Notice Title

Investments Account Bank

Notice Description

As security for our investments placed with borrowing entities, our borrowers are required to secure to us the bank account through which they receive and recycle sales proceeds on their development. The accounts are secured to us through a fixed charge and assignment, most often through a debenture over all company books and assets. The accounts are opened by our borrowers (in their own name) but are to be operated on a joint signatory basis between Homes England and the borrower, in the absence of any enforcement action. A notice of charge and assignment is served by the borrower upon the bank, and requires acknowledgement to Homes England and the borrower of the content within - notably signatory requirements and waiver of any right of set-off over the account. We require a framework of banks whom our borrowers can approach in order to receive this service in a consistent manner. Please log into ProContract to download the documents which contain further details.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e55ff93c-da20-4f51-98ce-3428cf011074
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/3c2eaf23-6816-46c2-a925-3223826dce70
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
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

66100000 - Banking and investment services

66110000 - Banking services

66120000 - Investment banking services and related services

Notice Value(s)

Tender Value
£1,200,000 £1M-£10M
Lots Value
Not specified
Awards Value
£1,000,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
11 Dec 20187 years ago
Submission Deadline
23 Nov 2018Expired
Future Notice Date
Not specified
Award Date
11 Dec 20187 years ago
Contract Period
25 Dec 2018 - 1 Jan 2023 4-5 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
HOMES ENGLAND (THE NAME ADOPTED BY THE HOMES AND COMMUNITIES AGENCY)
Contact Name
Katie Dawson
Contact Email
katie.dawson@homesengland.gov.uk
Contact Phone
+44 1914977608

Buyer Location

Locality
GATESHEAD
Postcode
NE11 0NA
Post Town
Newcastle upon Tyne
Country
England
Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC4 Northumberland, Durham and Tyne & Wear
Small Region (ITL 3)
TLC43 Tyneside
Delivery Location
Not specified
Local Authority
Gateshead
Electoral Ward
Lobley Hill and Bensham
Westminster Constituency
Gateshead Central and Whickham

Supplier Information

Number of Suppliers
1
Supplier Name

THE ROYAL BANK OF SCOTLAND

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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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