Tender

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

Banking Services

London Borough of Barnet

This public procurement record has 1 release in its history.

Tender

15 Oct 2021 at 12:15

Tender Notice
Summary of the contracting process

The London Borough of Barnet is currently conducting an open tender process for Banking Services, aimed at securing a comprehensive money transmission banking service. This contract, valued at £367,500, is set to last for five years with an option to extend for an additional two years. Key dates include the tender closing on 15 November 2021, with the award period commencing later the same day. The procurement is classified under services, specifically focusing on banking activities required by local authorities, including maintenance of various bank accounts and cash processing activities in the UK.

This tender presents a valuable opportunity for financial institutions and banking service providers aiming to expand their market presence within the public sector. Organisations that are licensed and authorised to operate as banks in the UK will be particularly well-placed to compete, as they must demonstrate compliance with the Prudential Regulation Authority's requirements. The emphasis on aspects such as relationship management and service delivery indicates that firms with strong customer service capabilities and proven banking experience in handling local authority accounts will be favoured in the selection process.

How relevant is this notice?

Notice Information

Notice Title

Banking Services

Notice Description

London Borough of Barnet requires a comprehensive money transmission banking service involving maintenance of numerous bank accounts(including accounts for schools), handling of paper, BACS/Faster Payment and CHAPS clearing, cash processing and other activities associated with local authority banking business. Credit facilities (i.e. overdraft facility, BACS limits, settlement risk limits) will also be required. The Council will require an internet banking service for balance/transaction reporting and payment initiation. The Council require a five year contract with extension option of 2 years.

Lot Information

Lot 1

London Borough of Barnet requires a comprehensive money transmission banking service involving maintenance of numerous bank accounts(including accounts for schools) , handling of paper, BACS/Faster Payment and CHAPS clearing, cash processing and other activities associated with local authority banking business. Credit facilities (i.e. overdraft facility, BACS limits, settlement risk limits) will also be required. The Council will require an internet banking service for balance/transaction reporting and payment initiation. The Council require a 5 year contract plus 2 year extension option. Additional information: Tender documents are accessible from LBB's procurement portal www.barnetsourcing.co.uk under current opportunities. Please register and this will enable access to tender documents Should you experience technical difficulties with the portal please contact support@curtisfitchglobal.com explaining these and that they relate to this opportunity

Renewal: 2 year extension option subject to performance review and budget

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02ec50
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/025827-2021
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

66110000 - Banking services

Notice Value(s)

Tender Value
£367,500 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
15 Oct 20214 years ago
Submission Deadline
15 Nov 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
London Borough of Barnet
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
COLINDALE LONDON
Postcode
NW9 4EW
Postcode Area
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)
TLI71 Barnet
Delivery Location
TLI71 Barnet
Local Authority
Barnet
Electoral Ward
Colindale North
Westminster Constituency
Hendon

Further Information

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...