Award

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

Resolution Procurement Framework Agreement 2023

Bank of England

This public procurement record has 2 releases in its history.

Award

18 Nov 2024 at 09:31

Award Notice
Tender

17 Feb 2023 at 20:45

Tender Notice
Summary of the contracting process

The Bank of England has conducted an open tender procedure titled "Resolution Procurement Framework Agreement 2023" and has awarded a 4-year framework agreement across five lots covering financial advice, restructuring, corporate financial advisory, operational review, and resolution delivery support. This framework agreement, worth up to £20 million, focuses on advisory services to support resolution planning and execution under the Resolvability Assessment Framework. The contract commenced on 15 September 2023 and will run until 14 May 2027. The process employed an open procurement method, indicating transparency and competitiveness.

This tender presents substantial opportunities for businesses in the consultancy and advisory sectors to collaborate with a prestigious client such as the Bank of England. Companies offering services in financial advisory, insolvency, corporate consulting, and operational analysis are particularly well-suited to participate. The framework agreement's non-exclusive, no-commitment arrangement ensures flexible engagement, allowing a variety of firms, including SMEs, to benefit from potential projects when needs arise. By participating, businesses can gain significant experience, expand their client base, and contribute to high-profile financial stability efforts.

How relevant is this notice?

Notice Information

Notice Title

Resolution Procurement Framework Agreement 2023

Notice Description

The Bank of England ('the Bank') conducted an open tender procedure for the re-tender of its Resolution Procurement Framework ("RPF") and has awarded a 4-year framework agreement split across the following 5 lots: - Lot 1 - Financial advice and valuation analysis; - Lot 2 - Restructuring and insolvency; - Lot 3 - Corporate financial advisory; - Lot 4 - Operational review and analysis; and - Lot 5 - Resolution delivery support. The RPF is the Bank's framework to appoint advisors to support work on resolution planning in business as usual and where a regulated entity is under stress. The Bank may seek advisory support for work to ensure that firms have adequate capabilities to deliver a resolution under the Resolvability Assessment Framework (RAF). The Bank may also seek advisory support to deliver a resolution (e.g. resolution valuations or insolvency practitioner support). This framework has been awarded on a non-exclusive and no commitment basis, therefore the Bank is not committed to spending the full framework value and payment is only made as and when requirements arise and are awarded to suppliers.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-eab3ae63-b9a0-495b-b317-8dcadf1893f9
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/3b466f74-b289-4483-9ef8-71d8297d66fc
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above 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

79400000 - Business and management consultancy and related services

Notice Value(s)

Tender Value
£20,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
£20,000,000 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
18 Nov 20241 years ago
Submission Deadline
21 Apr 2023Expired
Future Notice Date
Not specified
Award Date
15 Jul 20233 years ago
Contract Period
15 Sep 2023 - 14 May 2027 3-4 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
Bank of England
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
EC2R 8AH
Postcode Area
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), TLI London, TLJ South East (England), TLK South West (England)
Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
18
Supplier Names

KROLL (U.K.) LIMITED

Alantra Corporate Finance LLP

BDO LLP

Reply Limited

North Highland UK Limited

FTI Consulting Management Limited

Accenture (UK) Limited

Evelyn Partners LLP

Ernst & Young LLP (EY)

Oliver Wyman Ltd

Grant Thornton UK LLP

TENEO (UK) LIMITED

Forvis Mazars LLP

Alvarez & Marsal Global Forensic and Dispute Services

Alix Partners

FRP Advisory

Interpath Ltd

Deloitte LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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.

Loading OCDS record...