Award

Independent External Assurance Review

BANK OF ENGLAND

This public procurement record has 1 release in its history.

Award

23 Oct 2025 at 09:54

Summary of the contracting process

The procurement process, led by the Bank of England, focused on securing services for an "Independent External Assurance Review," aimed at providing External Assurance Review Services. This contract falls under the 'services' category within the system quality assurance assessment and review services. The Bank of England, a central government public authority located at Threadneedle Street, London, initiated a tender that utilised a limited procurement method, indicating competition below the threshold. The award stage was completed on 23rd September 2025, with the contract period commencing on 23rd October 2025 and set to conclude on 19th October 2026, with a possibility of extension for an additional year. The procurement covers multiple delivery regions across the United Kingdom.

This tender presents a lucrative opportunity for businesses, particularly small and medium-sized enterprises (SMEs) specialised in quality assurance and review services. With 3 out of 5 final stage bids coming from SMEs, it demonstrates a competitive environment for smaller businesses to showcase their capabilities. Companies that can offer robust assurance and review services can leverage this contract to establish or expand their footprint in the public sector, gaining a prestigious association with the Bank of England. The contract's scope across various regions within the UK provides further opportunities for geographical business expansion.

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Notice Title

Independent External Assurance Review

Notice Description

To provide External Assurance Review Services.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-05d23a
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/067722-2025
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Below threshold - limited competition
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

72 - IT services: consulting, software development, Internet and support


CPV Codes

72225000 - System quality assurance assessment and review services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£95,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
23 Oct 20254 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
22 Sep 20255 months ago
Contract Period
22 Oct 2025 - 19 Oct 2026 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
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
Not specified

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

Supplier Information

Number of Suppliers
1
Supplier Name

3VRM

Further Information

Notice Documents

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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