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Maidstone Borough Council - Corporate Banking and Merchant Services

Maidstone Borough Council

This public procurement record has 2 releases in its history.

Award

25 Oct 2024 at 14:25

Award Notice
Tender

02 Aug 2024 at 16:39

Tender Notice
Summary of the contracting process

Maidstone Borough Council has successfully awarded a contract for corporate banking and merchant services to LLoyds Banking Group Plc. This contract, classified under "Financial and insurance services" (CPV code 66000000), involves the provision of banking services excluding investment services. The contract was signed on 25th October 2024 and is set to commence on 1st April 2025 with an initial term of five years, extendable by up to 60 months. The procurement followed an open procedure with key stages including the tender release on 2nd August 2024, and the final submission deadline on 6th September 2024. The council's decision reflects their focus on cost (60%) and quality (40%) as the award criteria.

This tender offers significant opportunities for businesses in the financial services sector. Service providers specialising in corporate banking and card merchant services, particularly those who can demonstrate competitive pricing and high-quality service standards, will find this contract beneficial for growth. Being awarded such a contract by a regional authority like Maidstone Borough Council can enhance a company's portfolio and reputation, opening doors to further similar engagements within the public sector. Businesses that provide comprehensive and adaptable financial solutions are well-suited to competing for such tenders.

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Notice Information

Notice Title

Maidstone Borough Council - Corporate Banking and Merchant Services

Notice Description

Maidstone Borough Council (MBC) is looking to award a contract for corporate banking and card merchant services (excluding investment services). Contract Term: This contract term will be an initial 5-year term. The Council would reserve the right to extend this contract for a period of up to 60 months at the end of the initial 5-year contract term.

Lot Information

Lot 1

Maidstone Borough Council (MBC) is looking to award a contract for corporate banking and card merchant services (excluding investment services). Contract Term: This contract term will be an initial 5-year term. The Council would reserve the right to extend this contract for a period of up to 60 months at the end of the initial 5-year contract term.

Renewal: This contract term will be an initial 5-year term. The Council would reserve the right to extend this contract for a period of up to 60 months at the end of the initial 5-year contract term.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-048766
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/034685-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award 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

66000000 - Financial and insurance services

66110000 - Banking services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
25 Oct 20241 years ago
Submission Deadline
30 Aug 2024Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Maidstone Borough Council
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
MAIDSTONE
Postcode
ME15 6JQ
Postcode Area
Rochester
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ4 Kent
Small Region (ITL 3)
TLJ45 Mid Kent
Delivery Location
TLJ45 Mid Kent
Local Authority
Maidstone
Electoral Ward
High Street
Westminster Constituency
Maidstone and Malling

Supplier Information

Number of Suppliers
1
Supplier Name

Lloyds Banking Group

Further Information

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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