Award

Protecting Customer Credit in the Event of a Disorderly Retail Exit

WATER SERVICES REGULATION AUTHORITY (OFWAT)

This public procurement record has 2 releases in its history.

AwardUpdate

24 Feb 2020 at 10:32

Award Notice
Award

18 Feb 2020 at 14:40

Award Notice
Summary of the contracting process

The procurement process titled "Protecting Customer Credit in the Event of a Disorderly Retail Exit" is being conducted by the Water Services Regulation Authority (Ofwat). The project, which falls under the general management consultancy services category, aims to ensure the protection of customers' monetary balances in case of a retail exit, with a contract value of £29,760. The tender process was initiated under an open procedure aimed at suppliers, and the tender period concluded on 13 August 2019, with the contract period running from 12 September 2019 to 23 December 2019. The tender is relevant to regions in the West Midlands and London, UK.

This opportunity could benefit consultancy firms that specialise in regulatory compliance, consumer financial protection, and risk assessment. Businesses that understand the mechanisms of safeguarding customer funds and have experience working with retail or regulatory bodies would be well-suited to compete for this consultancy contract, particularly those capable of providing innovative solutions to enhance customer security in challenging retail scenarios.

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Notice Information

Notice Title

Protecting Customer Credit in the Event of a Disorderly Retail Exit

Notice Description

The overall objectives of the project are, in the event a retailer makes a disorderly exit, to: Gather options for protecting customers' monies; Assess whether there is, or could be, a mechanism to provide recourse for retailers to recover the (reasonable) costs of honouring credit balances when taking over the supply of affected customers; Recommend the most effective option(s) for protecting customers' monies and mitigating the exposure of the incoming retailer, including an assessment of any legal or regulatory changes that may need to be made to the existing framework, as appropriate. External elements Benchmarking/ comparative analysis Review and setting out what other regulators (including, but not limited to Water Industry Commission for Scotland, Ofgem, the FCA and the CAA) do to protect customer's money and provide recourse for retailers to recover (reasonable) costs of honouring credit balances, and by reference to your experience of similar organisations, set out what mechanisms exist that are used to protect customers' money. In doing so, highlight pros and cons across the different schemes. Ofwat to provide some information about the last interim supply event Setting out the costs, risks and feasibility for incoming retailers to take on customer credit balances and exploring mechanisms which might allow those retailers to claim this money back. Information gathered above Evaluation and Options proposal - From your own knowledge, advise on any options to: External Elements a) Secure customers' money, including but not limited to, instances where they have made pre-payments, deposits, etc. b) Introduce mechanisms for incoming retailers to be able to claim money back where they have taken on/ honoured credit balances from an outgoing retailer. Additional information: For Further Information, please contact:procurement@ofwat.gov.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e9e72557-7841-4c9c-880b-df1a134941f2
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/73faabc4-0061-4d44-bf2e-06219922eb42
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 (below threshold)
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
£29,760 Under £100K
Lots Value
Not specified
Awards Value
£29,760 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
24 Feb 20206 years ago
Submission Deadline
13 Aug 2019Expired
Future Notice Date
Not specified
Award Date
9 Sep 20196 years ago
Contract Period
11 Sep 2019 - 23 Dec 2019 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

SHEPHERD AND WEDDERBURN

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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