Award

Banknote Print Machinery Servicing

BANK OF ENGLAND

This public procurement record has 3 releases in its history.

Award

20 Jun 2025 at 14:02

Award

19 Jun 2025 at 17:54

Planning

23 May 2025 at 15:29

Summary of the contracting process

The Bank of England has completed the procurement process for the servicing of its banknote printing machinery, with the contract awarded to Komori Corporation. This direct award contract, valued at approximately £13.48 million, is part of the central government's initiative to maintain and extend the operational lifespan of these machines. Located in London, the servicing will encompass repair and maintenance services, set to begin on 3rd July 2025 and concluding on 3rd May 2038. A standstill period is scheduled to end on 1st July 2025, with the contract signing expected to occur by 2nd July 2025. The procurement was managed as a direct award due to the supplier's unique capabilities and rights, impacting the decision for a single-source approach.

This contract represents a significant opportunity for businesses specialising in repair and maintenance services, particularly those with expertise in complex machinery and intellectual property concerns. The substantial contract value also indicates a robust demand for ongoing upkeep, making it an attractive opportunity for companies looking to establish long-term relationships with central government entities. While this direct award was necessary due to exclusive rights held by the selected supplier, it sets a precedent for businesses specialising in niche and highly technical fields, encouraging them to explore similar opportunities within the public sector.

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Notice Title

Banknote Print Machinery Servicing

Notice Description

Servicing of Bank of England banknote printing machines to extend lifespan. Contract Value based on current exchange rates.

Procurement Information

Single supplier - intellectual property or exclusive rights (a)due to the supplier having intellectual property rights or other exclusive rights, only that supplier can supply the goods, services or works required, and (b)there are no reasonable alternatives to those goods, services or works. Single Supplier - technical reasons (a) there is an absence of competition for technical reasons (b) there are no reasonable alternatives to those services which need to be supplied

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-052473
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/034120-2025
Current Stage
Award
All Stages
Planning, Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Direct award
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

50 - Repair and maintenance services


CPV Codes

50000000 - Repair and maintenance services

Notice Value(s)

Tender Value
£13,500,000 £10M-£100M
Lots Value
Not specified
Awards Value
£13,479,891 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
20 Jun 20258 months ago
Submission Deadline
Not specified
Future Notice Date
9 Jun 2025Expired
Award Date
19 Jun 20258 months ago
Contract Period
2 Jul 2025 - 3 May 2038 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Pending
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Not specified
Contact Email
askprocurement@bankofengland.co.uk
Contact Phone
Not specified

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
TLH3 Essex

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

Supplier Information

Number of Suppliers
1
Supplier Name

KOMORI

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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