---
title: "Special Financial Support"
ocid: "ocds-b5fd17-c475d774-0372-49df-8e53-35544d13a5db"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-c475d774-0372-49df-8e53-35544d13a5db"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-c475d774-0372-49df-8e53-35544d13a5db.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-c475d774-0372-49df-8e53-35544d13a5db.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "WATER SERVICES REGULATION AUTHORITY"
published: "2018-05-24"
---

# Special Financial Support

Buyer: WATER SERVICES REGULATION AUTHORITY  
Current stage: Award  
OCID: ocds-b5fd17-c475d774-0372-49df-8e53-35544d13a5db

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## Summary

The procurement process, titled "Special Financial Support," is initiated by the Water Services Regulation Authority, located in Birmingham, England. This initiative falls under the financial management consultancy services industry and is currently at the award stage. The tender period concluded on 9th March 2018, leading to a contract period that commenced on 26th March 2018 and will end on 26th July 2018. This selective procurement method involves a call-off from a framework agreement and is structured to ensure that specialized assistance is readily available during potential financial distress faced by water companies.

This tender presents significant opportunities for consultancy firms with expertise in financial management and crisis management, particularly those experienced in the water industry or public sector consulting. Small and medium-sized enterprises (SMEs) should find this tender particularly relevant, as the contracting authority aims to engage two suppliers – a preferred and a reserve supplier – for initially limited phases, making the entry more feasible for smaller firms capable of delivering tailored consultancy services. Businesses equipped to provide financial assessments, scenario analyses, and corporate restructuring advice will be well-suited to compete in this process.

## Notice

In 2009 Special Administration legislation was introduced which covered Insolvency procedures for the Water Industry. In effect this covers Insolvency procedures for the Water companies. In practice, we have never had to use the special administration arrangements and have no reason to believe that we will need to do so in future. We have an ongoing project to review the procedures for Special Administration and for water companies experiencing financial distress (which could lead to Special Administration). This is an enduring piece of work, and we have previously run exercises internally and discussed arrangements with key stakeholders as part of our normal preparation. As part of the project, we are looking to develop a call off contract for consulting support to ensure we have specialist assistance if needed. This is a precautionary measure. It will provide an additional safeguard for our prudent risk management processes. The call off contract will be a phased implementation: Phase 1 Phase 1 will be a call off contract for FOUR months with an option for a TWO month extension. It will have TWO suppliers - a PREFERRED supplier and a RESERVE supplier. The PREFFERED supplier will would be chosen to lead any work. However if the PREFFERED supplier was unable to support (for example through a professional conflict of interest such as being a statutory auditor to the company concerned) we would opt for the RESERVE supplier. Phase 2 A longer term call off contract will be developed in 2018. Information relating to this will be provided nearer the time. The rest of this ITT is concerned with Phase 1 only. Overall Objectives In very broad terms financial distress refers to a company experiencing problems paying its creditors. Special Administration is a form of insolvency - where the company cannot pay its creditors and has formally gone into receivership. In our context financial distress is the precursor to Special Administration. We would want to avoid a formal route of special administration where possible. Should a supplier be appointed under the Phase 1 call off contract, the objectives shall be: * Provide OFWAT support for a company experiencing: (a) financial distress; AND/OR (b) that has triggered the Special Administration Procedures * Provide Ofwat with support and advice on financial and corporate issues at relatively short notice. This will include assessment of companies' financial positions, scenario analysis, and action plans; * Provide Ofwat with advice and support in dealing with potential financial distress at water companies including the approaches/actions/attitudes of external parties eg credit rating agencies, debt and equity investors; and * Provide Ofwat with technical financial advice in respect to financial, capital and corporate restructuring.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/ca6b1cb2-447a-4a08-895b-61ae4217e631 |
| Notice type | Award Notice |
| Procurement type | Framework |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Call-off from a framework agreement |
| Tender suitability | SME |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 24 May 2018 |
| Submission deadline | 9 Mar 2018 |
| Future notice date | Not specified |
| Award date | 19 Mar 2018 |
| Contract period | 25 Mar 2018 - 26 Jul 2018 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | Not specified |
| 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 | WATER SERVICES REGULATION AUTHORITY |
| Locality | BIRMINGHAM |
| Post town | Birmingham |
| Postcode | B5 4UA |
| Country | England |
| ITL 1 | TLG West Midlands (England) |
| ITL 2 | TLG3 West Midlands |
| ITL 3 | TLG31 Birmingham |
| Local authority | Birmingham |
| Electoral ward | Ladywood |
| Westminster constituency | Birmingham Ladywood |
| Delivery location | TLG West Midlands (England), TLI London |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 2 |
| Supplier names | DELOITTE; PRICEWATERHOUSECOOPERS |

## CPV Codes

### Divisions

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

### Codes

- 79412000 - Financial management consultancy services

## Release History

- 24 May 2018 at 13:44 - AwardUpdate - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/ca6b1cb2-447a-4a08-895b-61ae4217e631
- 24 May 2018 at 10:16 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/ca6b1cb2-447a-4a08-895b-61ae4217e631

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/ca6b1cb2-447a-4a08-895b-61ae4217e631
  24th May 2018 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/0e2fbb99-db25-4572-b0bb-b723360113b8
  Contract
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/2d0b2a4f-0801-43a3-9d57-02b09784cde4
  Contract

## 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-c475d774-0372-49df-8e53-35544d13a5db. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-c475d774-0372-49df-8e53-35544d13a5db.json.