Award

Due Diligence Framework

HIGHLANDS AND ISLANDS ENTERPRISE

This public procurement record has 2 releases in its history.

Award

03 Nov 2020 at 00:00

Tender

01 Jul 2020 at 00:00

Summary of the contracting process

Highlands and Islands Enterprise has initiated the procurement for a "Due Diligence Framework" aimed at enhancing their decision-making processes related to investments. This procurement process was conducted using the open method and has reached the award stage. The contract, awarded on 29 October 2020, is valued at approximately £960,000 over four years, with the initial term of three years beginning in October 2020, and a possibility of a one-year extension. The framework will serve the Inverness region, with a budget range of £540,000 to £720,000 (excluding VAT) available for the first three years.

This tender presents significant opportunities for businesses, particularly those specialising in financial reviews, strategic and business evaluations, and technical assessments. Companies with expertise in advisory services, including those offering financial consulting or investment due diligence, will find this framework particularly suited for participation. With three suppliers awarded under the multi-supplier framework, there remains potential for small and medium enterprises as well as larger firms to contribute to future projects and enhance their business portfolios through successful collaboration with Highlands and Islands Enterprise.

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Notice Title

Due Diligence Framework

Notice Description

This is a Contract Award Notice and as such the procurement process is complete. The diversity of projects HIE deals with from clients or delivered directly requires us to undertake due diligence which necessitate a wide range of skillsets to understand the proposals, appraise the merits and understand the investment risks. In most cases, due diligence is undertaken by HIE staff themselves, but from time to time there can be more complex challenges or resourcing issues which lead to a requirement for HIE to seek external support. The contract has been awarded under a multi supplier Framework basis to 3 suppliers. The Framework will commence in October 2020 for an initial period of 3 years, with HIE having the option to extend for a period or periods together not exceeding 1 year following the Initial Term. The initial 3 year budget currently available to deliver this service is between 540 000 GBP and 720 000 GBP (excluding VAT).

Lot Information

Lot 1

The Objectives of the Framework are to: - support HIE's decision making and resource prioritisation - provide access to specialist knowledge and - develop skills / build capacity in HIE. Types of support will include, but are not limited to: - financial reviews - strategic business reviews - assessing investor proposals - distress situations - R&D / Innovation - technical assessments / R&D tax assessments and - general technical assessments.. Economic operators may be excluded from this competition if they are in any of the situations referred to in Regulation 58 of the Public Contracts (Scotland) Regulations 2015.

Options: HIE reserves the right to order any variation to any quantity or specification of any part of the Services that for any reason shall in HIE's opinion be desirable. Any such variation may include (but shall not be restricted to) additions, omissions, alterations, substitutions to the Services and changes in quality, form, character, kind, timing, method or sequence of the provision of Services. The conditions under which such variations may be required are as a result of changes to HIE and/or Scottish Government policy or strategy in relation to which the services and support HIE provides or is to provide, or a change to the nature of the services or the enterprises which HIE supports. Any such modification shall be in terms of Regulation 72 of the Public Contracts (Scotland) Regulations 2015.

Renewal: It is expected that the Framework will be awarded in October 2020 for an initial period of 3 years, with HIE having the option to extend for a period or periods together not exceeding 1 year following the Initial Term.

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000621022
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=NOV398859
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

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

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


CPV Codes

66171000 - Financial consultancy services

72221000 - Business analysis consultancy services

79211000 - Accounting services

79411100 - Business development consultancy services

79412000 - Financial management consultancy services

Notice Value(s)

Tender Value
£960,000 £500K-£1M
Lots Value
£960,000 £500K-£1M
Awards Value
Not specified
Contracts Value
£960,000 £500K-£1M

Notice Dates

Publication Date
3 Nov 20205 years ago
Submission Deadline
12 Aug 2020Expired
Future Notice Date
Not specified
Award Date
29 Oct 20205 years ago
Contract Period
Not specified - Not specified
Recurrence
HIE reserves the right to re-tender for these services upon termination of the Framework or at the end of the Framework period, including any extension period.

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
HIGHLANDS AND ISLANDS ENTERPRISE
Contact Name
Not specified
Contact Email
hieprocurement@hient.co.uk
Contact Phone
+44 1463245245

Buyer Location

Locality
INVERNESS
Postcode
IV2 5NA
Post Town
Inverness
Country
Scotland

Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM2 Highlands and Islands
Small Region (ITL 3)
TLM20 Highlands and Islands
Delivery Location
TLM6 Highlands and Islands

Local Authority
Highland
Electoral Ward
Inverness South
Westminster Constituency
Inverness, Skye and West Ross-shire

Supplier Information

Number of Suppliers
3
Supplier Names

AZETS HOLDING LTD (T/A AZETS

ERNST & YOUNG

FRONTLINE CONSULTANTS

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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            {
                "id": "714",
                "measure": "bids",
                "value": 19,
                "relatedLot": "1"
            },
            {
                "id": "715",
                "measure": "smeBids",
                "value": 13,
                "relatedLot": "1"
            },
            {
                "id": "716",
                "measure": "foreignBidsFromEU",
                "value": 0,
                "relatedLot": "1"
            },
            {
                "id": "717",
                "measure": "foreignBidsFromNonEU",
                "value": 0,
                "relatedLot": "1"
            },
            {
                "id": "718",
                "measure": "electronicBids",
                "value": 19,
                "relatedLot": "1"
            }
        ]
    }
}