Award

INVITATION TO TENDER FOR BANKING SERVICES

GLOUCESTERSHIRE COUNTY COUNCIL

This public procurement record has 2 releases in its history.

Award

29 Sep 2021 at 11:02

Tender

11 Jun 2021 at 12:12

Summary of the contracting process

Gloucestershire County Council has initiated a public procurement process for a transactional banking provider titled "Invitation to Tender for Banking Services". This procurement, classified under the CPV code for banking services (66110000), is currently at the Award stage. The tender process has been executed through an open procedure, culminating in an active award to Lloyds Bank with a total contract value of £265,000. The procurement began on June 11, 2021, and the relevant key dates include a bid opening on August 2, 2021, for a fixed-term contract of five years requiring four main bank accounts with internet banking capabilities located in Gloucester, UKK13.

This procurement presents an excellent opportunity for banks and financial service providers to grow their business by entering into a long-term contract with a regional authority with diverse banking needs. Businesses that specialise in providing transactional banking services, particularly those capable of managing multiple accounts and foreign transactions, would be particularly well-suited to compete. With the emphasis on both quality and cost factors in the award criteria, this tender can facilitate strategic partnerships and enhance service offerings for successful bidders.

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Notice Title

INVITATION TO TENDER FOR BANKING SERVICES

Notice Description

Gloucestershire County Council (GCC) intends to procure a transactional banking provider for general banking services. The banking service requirements of GCC are below. 1.1 A fixed term 5 year contract for banking services. 1.2 Four (4) main bank accounts, with the ability to be administered through internet banking, which can handle common forms of banking transaction, including foreign generated transactions. 1.3 The ability to pool these main accounts, with the contractual right to offset for both balances and interest calculation. 1.4 A further account which is to be segregated from the main accounts, but administered through the same internet banking portal as the main accounts. 1.5 A Head Office Collection Account (HOCA) for the receipt of school and library payments, (or any legitimate, cost effective replacement system). 1.6 In addition to the main accounts, approximately 160 accounts are maintained for schools and other establishments. These are operated independently from the main bank accounts and have their own signatories, they are not subject to the account balance pooling arrangement detailed in 1.2.

Lot Information

Lot 1

Gloucestershire County Council (GCC) intends to procure a transactional banking provider for general banking services. The banking service requirements of GCC are below. 1.1 A fixed term 5 year contract for banking services. 1.2 Four (4) main bank accounts, with the ability to be administered through internet banking, which can handle common forms of banking transaction, including foreign generated transactions. 1.3 The ability to pool these main accounts, with the contractual right to offset for both balances and interest calculation. 1.4 A further account which is to be segregated from the main accounts, but administered through the same internet banking portal as the main accounts. 1.5 A Head Office Collection Account (HOCA) for the receipt of school and library payments, (or any legitimate, cost effective replacement system). 1.6 In addition to the main accounts, approximately 160 accounts are maintained for schools and other establishments. These are operated independently from the main bank accounts and have their own signatories, they are not subject to the account balance pooling arrangement detailed in 1.2.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02bb06
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/024181-2021
Current Stage
Award
All Stages
Tender, Award

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
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66110000 - Banking services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£265,000 £100K-£500K

Notice Dates

Publication Date
29 Sep 20214 years ago
Submission Deadline
2 Aug 2021Expired
Future Notice Date
Not specified
Award Date
23 Sep 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
GLOUCESTERSHIRE COUNTY COUNCIL
Contact Name
Mr Shak Miah
Contact Email
shak.miah@gloucestershire.gov.uk
Contact Phone
+44 1452324331

Buyer Location

Locality
GLOUCESTER
Postcode
GL1 2TG
Post Town
Gloucester
Country
England

Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK7 Gloucestershire and Wiltshire
Small Region (ITL 3)
TLK73 Gloucestershire CC
Delivery Location
TLK13 Gloucestershire CC

Local Authority
Gloucester
Electoral Ward
Westgate
Westminster Constituency
Gloucester

Supplier Information

Number of Suppliers
1
Supplier Name

LLOYDS BANK

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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