Award

Cheque Processing and Clearing Services

POST OFFICE LIMITED

This public procurement record has 2 releases in its history.

Award

11 Jan 2022 at 10:17

Tender

15 Jan 2021 at 17:52

Summary of the contracting process

The public procurement process for Cheque Processing and Clearing Services is being conducted by POST OFFICE LIMITED, based in London, UK. This tender falls under the services category and involves financial transaction processing and clearing-house services. Currently, the procurement method is described as selective, following a restricted procedure, and is in the active stage. Key dates include a tender submission deadline on 15 February 2021 and a contract period that began on 1 July 2021, with a total value of £9,600,000 and options for extensions that include an initial 2-year term followed by four 1-year extensions.

This tender presents significant opportunities for businesses specialising in financial services, particularly those capable of handling cheque processing and clearing. Companies with expertise in electronic submission of tenders and those meeting specific suitability criteria, including demonstrating qualified staffing, would be well-positioned to compete for this contract. The scale and potential for long-term engagement make this an attractive opportunity for large financial service providers looking to expand their contract portfolio within the public sector.

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Notice Title

Cheque Processing and Clearing Services

Notice Description

The processing and clearing of cheques

Lot Information

Lot 1

Processing and clearing of cheques

Options: The contract is for 2 years with the option to extend by 4 further individual years

Renewal: 2 year initial term with the option of four one year extensions

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-028ae7
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/000717-2022
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66172000 - Financial transaction processing and clearing-house services

Notice Value(s)

Tender Value
£9,600,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£3,000,000 £1M-£10M

Notice Dates

Publication Date
11 Jan 20224 years ago
Submission Deadline
15 Feb 2021Expired
Future Notice Date
Not specified
Award Date
15 Dec 20214 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
POST OFFICE LIMITED
Additional Buyers

POST OFFICE LTD

Contact Name
Antony Ray
Contact Email
antony.ray@postoffice.co.uk
Contact Phone
+44 7435958192

Buyer Location

Locality
LONDON
Postcode
N/A
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI43 Haringey and Islington
Delivery Location
TLH East (England)

Local Authority
Islington
Electoral Ward
Bunhill
Westminster Constituency
Islington South and Finsbury

Supplier Information

Number of Suppliers
1
Supplier Name

EXELA TECHNOLOGIES

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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