Notice Information
Notice Title
Banking Services
Notice Description
Overview and Scope of the Requirement The Authority as the contracting authority is tendering for the supply of Services to the MPS. The MPS/Authority is seeking through this tendering process to award a contract with a suitably capable Bidder to provide these services for an initial term of 60 months and a unilateral option of the MPS/Authority to extend for further periods of 24 months up to a maximum of 84 months for the total contract period. BANK ACCOUNTS MOPAC/MPS will require two main bank accounts: Fund Main Supply Account Fund Drawing Account In addition to the main accounts approximately 80 bank accounts will be required by divisions and operational departments. Most of these accounts are operated on an imprest basis and are funded periodically. Bank accounts are also maintained for holding significant balances on behalf of third parties (further detail in the Requirements Specification) Bidders must be capable of opening/operating any reasonable number of bank accounts on behalf of MOPAC/MPS and be capable of closing accounts/opening new bank accounts within 48 hours of receiving the appropriate instruction. Accounts must be open for the first day of the contract (currently 1st March 2022) and all necessary ancillary functions (ability to make deposits, withdrawals, intra account transfers and enquiries be in place). BANK ACCOUNT STRUCTURE The majority of bank accounts are currently pooled within a single group structure. A number of bank accounts are outside of the pooling arrangements as they hold non MOPAC/MPS balances (e.g. third party bank accounts). Bidders must be capable of pooling any number of bank accounts into more than one pooling group if required and be capable of establishing automatic transfers/sweeps between nominated bank accounts. THIRD PARTY FUNDS MOPAC/MPS manages significant balances that have been confiscated under the Proceeds of Crime Act (POCA), held under other legislation deposited in the De-tained Monies Account (DMA), held under other legislation deposited in the Account Freezing Orders (AFO) account, held under other legislation deposited in the Anti-Terrorism Crime and Security Act (ATCSA) and other third party monies processed by police through the Divisional Account. The current bank provides a virtual ac-count service that facilitates the management of these funds.
Lot Information
Lot 1
The Authority is managing this tender via an open tender process to source the most suitable banking service. It is envisaged the contract will be let on a 5+2 year basis. For further details, please read through the requirements specification and ITT documents Via Coupa: https://supplier.coupahost.com/quotes/public_events?customer=metpolice You can register your interest and participate in the tender process via the Coupa Portal. If you experience any issues with access and the service desk are unable to assist you, then place e-mail Hannah.lloyd@met.police.uk Additional information: If you experience any issues with access and the service desk are unable to assist you, then place e-mail Hannah.lloyd@met.police.uk
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-02b028
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/010423-2021
- Current Stage
- Tender
- All Stages
- Tender
Procurement Classification
- Notice Type
- Tender Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Open
- Procurement Method Details
- Open procedure
- Tender Suitability
- Not specified
- Awardee Scale
- Not specified
Common Procurement Vocabulary (CPV)
- CPV Divisions
66 - Financial and insurance services
-
- CPV Codes
66000000 - Financial and insurance services
66100000 - Banking and investment services
Notice Value(s)
- Tender Value
- £2,450,000 £1M-£10M
- Lots Value
- £2,450,000 £1M-£10M
- Awards Value
- Not specified
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 12 May 20214 years ago
- Submission Deadline
- 11 Jun 2021Expired
- Future Notice Date
- Not specified
- Award Date
- Not specified
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Active
- Lots Status
- Active
- Awards Status
- Not Specified
- Contracts Status
- Not Specified
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- METROPOLITAN POLICE SERVICE
- Contact Name
- Hannah Lloyd
- Contact Email
- hannah.lloyd@met.police.uk
- Contact Phone
- +44 7886566254
Buyer Location
- Locality
- LONDON
- Postcode
- NW6 6LT
- Post Town
- North West London
- Country
- England
-
- Major Region (ITL 1)
- TLI London
- Basic Region (ITL 2)
- TLI7 Outer London - West and North West
- Small Region (ITL 3)
- TLI72 Brent
- Delivery Location
- TLI London
-
- Local Authority
- Brent
- Electoral Ward
- Queens Park
- Westminster Constituency
- Queen's Park and Maida Vale
Further Information
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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