Award

Legal Services Framework

BANK OF ENGLAND

This public procurement record has 2 releases in its history.

Award

06 May 2025 at 09:32

Tender

15 Jan 2024 at 12:00

Summary of the contracting process

The Bank of England, located in London, recently completed a selective procurement process under a restricted procedure for a legal services framework. This tender aimed to appoint a panel of three law firms specialising in loan and securities collateral to support the Bank's market operations. The industry category for this procurement is business services, specifically legal services, with the CPV classification code 79100000. The procurement process is complete, with contracts awarded to Burges Salmon LLP, Ashurst LLP, and Freshfields Bruckhaus Deringer LLP, each with a contract value of £3,000,000. The framework agreement, covering the delivery of services throughout the UK, is set for a term of three years with no obligation for service purchase by the Bank, nor exclusive rights granted to the suppliers. The contracts were signed on 4th November 2024 and 2nd April 2025.

This tender presents growth opportunities for law firms specialising in providing due diligence and legal reviews related to collateral. Firms with expertise in legal consultancy within the financial services industry can benefit from such frameworks as they allow participation in high-profile contracts with significant contract values. Larger legal enterprises, like those awarded in this framework, can leverage such opportunities to expand their client base and gain strategic insight into sophisticated financial operations. The nature of this procurement highlights the potential for businesses to engage in ongoing legal services and contribute to crucial financial processes, complementing their portfolio with public sector engagements.

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Notice Title

Legal Services Framework

Notice Description

The Bank of England ('the Bank') conducted a restricted tender procedure to appoint a specialist legal panel of three Suppliers in relation to loan and securities collateral. The contract term is for 3 years. There is no obligation for the Bank to purchase any services from a Supplier during the term of the Framework Agreement and the Bank grants no form of exclusivity to any Supplier under the Contract.

Lot Information

Lot 1

For the provision of Loan and Securities Collateral Legal Panel.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-042d0d
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/018995-2025
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

79000000 - Business services: law, marketing, consulting, recruitment, printing and security

79100000 - Legal services

Notice Value(s)

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

Notice Dates

Publication Date
6 May 20259 months ago
Submission Deadline
14 Feb 2024Expired
Future Notice Date
Not specified
Award Date
4 Nov 20241 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
BANK OF ENGLAND
Contact Name
Commercial Manager
Contact Email
corporate.contracts@bankofengland.co.uk
Contact Phone
+44 2076011116

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
Post Town
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
Not specified

Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
3
Supplier Names

ASHURST

BURGES SALMON

FRESHFIELDS BRUCKHAUS DERINGER

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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