---
title: "Sponsor Bank for Short Term Contingency"
ocid: "ocds-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "DEPARTMENT FOR WORK AND PENSIONS"
published: "2020-07-14"
---

# Sponsor Bank for Short Term Contingency

Buyer: DEPARTMENT FOR WORK AND PENSIONS  
Current stage: Award  
OCID: ocds-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f.json)

## Summary

The contract titled "Sponsor Bank for Short Term Contingency," awarded by the Department for Work and Pensions, involves the provision of financial and insurance services related to a contingency payment scheme. The contract has a total value of £190,800 and will be in effect from July 1, 2020, to June 30, 2021. The procurement method employed was an open procedure, allowing a wide range of suppliers to participate. The procurement process culminated in the award announcement on June 30, 2020, with critical engagement from parties located across the British Overseas Territories, Channel Islands, and the UK.

This tender presents a significant opportunity for banks and financial service providers, especially those with capabilities in managing contingency funding and payment services. Small and medium-sized enterprises (SMEs) in banking services may find it advantageous to engage in similar contracts, given that the procurement was open to smaller firms. This represents an excellent avenue for growth in the financial services sector as the need for reliable banking solutions in governmental risk management increases.

## Notice

This notice is to advise of the award of contract for the Sponsor Bank element of the Short Term Payment Contingency service. Sponsor Bank services are required to manage funding in the event that the Department for Work and Pensions invokes the Short Term Payment Contingency service.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/24648259-bcd8-4ca4-9375-b96a8246acd2 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (above threshold) |
| Tender suitability | SME |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 14 Jul 2020 |
| Submission deadline | 7 Feb 2020 |
| Future notice date | Not specified |
| Award date | 29 Jun 2020 |
| Contract period | 30 Jun 2020 - 30 Jun 2021 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £190,800 |
| Lots value | Not specified |
| Awards value | £190,800 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| 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 |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | HSBC BANK |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services
- 66100000 - Banking and investment services
- 66110000 - Banking services

## Release History

- 14 Jul 2020 at 14:06 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/24648259-bcd8-4ca4-9375-b96a8246acd2

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/24648259-bcd8-4ca4-9375-b96a8246acd2
  14th July 2020 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/6ea561e2-a30d-45c4-bc8d-8fb9a7eb9a32
  n/a

## 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-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-9cff2288-b479-44ff-91d4-75955897c66f.json.