--- title: "Sponsor Bank for Short Term Payment Contingency" ocid: "ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4.json" source: "Contracts Finder" current_stage: "Tender" buyer: "DEPARTMENT FOR WORK AND PENSIONS" published: "2020-01-06" --- # Sponsor Bank for Short Term Payment Contingency Buyer: DEPARTMENT FOR WORK AND PENSIONS Current stage: Tender OCID: ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4.json) ## Summary The Department for Work and Pensions is seeking a Sponsor Bank for their Short Term Payment Contingency service through an open procurement process. This tender, titled "Sponsor Bank for Short Term Payment Contingency," is categorised under financial and insurance services and is active until 7th February 2020. The successful contractor must be prepared to deliver a solution that spans from 1st July 2020 to 30th June 2021, ensuring timely payments for approximately 2.2 million transactions made daily. This tendering opportunity is located within the United Kingdom and emphasises the urgency of establishing a reliable service to mitigate payment delays. This procurement presents significant opportunities for financial service providers, particularly those who specialise in high-volume or rapid payment processing. Businesses that can deliver efficient banking solutions and have experience in working with public sector contracts will be well-positioned to compete. Given that this contract requires an adaptable and prompt response to payment contingencies, firms with innovative banking technologies and a robust understanding of the public sector's operational framework will likely find this tender particularly advantageous for growth and expansion. ## Notice This procurement relates to the provision of the Short Term Payment Contingency (STPC) service, specifically to the Sponsor Bank element which is required to support the functionality of STPC. Without a Sponsor Bank in place, STPC is unable to operate. This contingency service is invoked in situations when there is a delay with release of the BACS payment file which contains benefit and pension payments threatens the Department's ability to make payment on time. The service transforms BACS payments into Faster Payments to ensure that customers receive their entitlement on their due date, reducing reputational risk and satisfying the Secretary of State's obligation. The end to end STPC service requires two separate components, these are: * A service to reformat BACS payments into Faster Payments for onward submission into the Faster Payment infrastructure. * A Sponsor Bank for the settlement of funds with the Bank of England. The procurement is for the Sponsor Bank element only. DWP makes circa. 2.2m payments per day and pays over PS3bn per week. The end to end solution must be available from 01/07/20 to avoid a break in service. Please note: The Authority reserves the right to end the tendering process at any time and not to award a contract. Any costs incurred in the preparation and submitting of a bid and any subsequent activity connected to the tender exercise will be met by the supplier, not the Authority. Additional information: The Invitation to Tender Pack is available on Bravosolution. Your tender response should be submitted via BravoSolution. If you are not a BravoSolution registered supplier, you must register with BravoSolution to bid - https://dwp.bravosolution.co.uk/web/login.shtml Helpline telephone number:0800 368 4850 Helpline email: help@bravosolution.co.uk ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/5c8d7ca0-2d3b-489f-9307-f42058301616 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure (above threshold) | | Tender suitability | SME | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 6 Jan 2020 | | Submission deadline | 7 Feb 2020 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 30 Jun 2020 - 30 Jun 2021 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £220,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | DEPARTMENT FOR WORK AND PENSIONS | | Locality | BLACKPOOL | | Post town | Blackpool | | Postcode | FY4 5ES | | Country | England | | ITL 1 | TLD North West (England) | | ITL 2 | TLD4 Lancashire | | ITL 3 | TLD42 Blackpool | | Local authority | Blackpool | | Electoral ward | Stanley | | Westminster constituency | Blackpool South | | Delivery location | Not specified | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services ## Release History - 6 Jan 2020 at 15:08 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/5c8d7ca0-2d3b-489f-9307-f42058301616 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/5c8d7ca0-2d3b-489f-9307-f42058301616 6th January 2020 - Opportunity notice on Contracts Finder ## Notice URLs - https://dwp.bravosolution.co.uk/web/login.shtml ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-276fb479-c1d3-42e4-9b94-f6f5d9b792f4.json.