{ "tag": [ "compiled" ], "id": "ocds-h6vhtk-05f12f-2026-06-25T12:32:56+01:00", "date": "2026-06-25T12:32:56+01:00", "ocid": "ocds-h6vhtk-05f12f", "description": "All suppliers on this framework are committed to offering differing packages of Fair Work Practices, packages include the payment of the Real Living Wage or higher for the duration of this framework. (SC Ref:834996)", "initiationType": "tender", "tender": { "id": "798980", "legalBasis": { "id": "32014L0024", "scheme": "CELEX" }, "title": "DFSED-SG Bond Bookrunners", "status": "complete", "classification": { "scheme": "CPV", "id": "66110000", "description": "Banking services" }, "mainProcurementCategory": "services", "description": "The Scottish Government has appointed nine external service providers to assist in accessing the sterling public bond market. From 2016, the Scottish Government's annual limit for Capital Borrowing has been GBP 450 million, with a cumulative limit of GBP 3 billion. The 2023 Fiscal Framework review increased these limits in line with inflation, and the Scottish Government has been reviewing its capital borrowing policy options under these new limits. On 4 December 2024, the Scottish Government published a memorandum detailing the outcome of the initial due diligence and its updated capital borrowing policy in the context of the revised Fiscal Framework limits. The key objectives for the issuance of bonds includes diversifying capital funding sources, enhancing fiscal sustainability, raising Scotland's profile among financial investors, and developing institutional fiscal discipline. On 12th November 2025 Moody's Investors Service and Standard & Poor's assigned inaugural credit ratings for the Scottish Government of Aa3/AA respectively, both with a stable outlook. The strength and diversity of Scotland's economy, its strong institutional framework, as well as the Scottish Government's prudent financial management and low levels of debt are factors highlighted in the agencies' reports. A GBP 1.5 billion programme is expected to commence over the next parliament, with a debut benchmark bond issuance currently anticipated for late 2026 or early 2027, subject to the outcome of the Scottish Parliament election, in-year borrowing requirements and market conditions.", "value": { "amount": 5000000, "currency": "GBP" }, "lots": [ { "id": "1", "description": "The Scottish Government has established a multi-supplier Framework Agreement with a duration of four years to cover multiple debt issuance. The framework will include nine banks, each with the opportunity to act as Lead Manager for any future bond issuance. The top four ranked tenderers will act as Lead Manager on the inaugural bond issuance. While this requirement was exempt from the Public Contracts (Scotland) Regulations 2015 under Regulation 11(1)(f) and excluded from the scope of the Procurement Reform (Scotland) Act 2014 under Section 4, the Scottish Government conducted the procurement in accordance with the principles set out in the Scottish Procurement Policy Handbook. Throughout the procurement process, consideration was given to: - Achieving Value for Money (VfM) - Ensuring transparency, fairness and accountability - Compliance with internal procurement policies and financial regulations The framework value of 5milllion GBP represents the maximum aggregate value of call-off contracts over the duration of the framework / bond programme and is expected to cover multiple bond issuances if required. Fees payable in relation to individual issuances are commercially sensitive and will not be disclosed.", "status": "cancelled", "awardCriteria": { "criteria": [ { "name": "Quality", "type": "quality", "description": "80" }, { "type": "price", "description": "20" }, { "name": "Quality", "type": "quality", "description": "80" }, { "type": "price", "description": "20" } ] }, "contractPeriod": { "durationInDays": 1440 }, "hasRenewal": true, "renewal": { "description": "The Framework Agreement is anticipated to commence in July 2026 for an initial period of 36 months, with the option to extend for one further 12-month period." }, "submissionTerms": { "variantPolicy": "notAllowed" }, "hasOptions": false } ], "items": [ { "id": "1", "additionalClassifications": [ { "scheme": "CPV", "id": "66120000", "description": "Investment banking services and related services" }, { "scheme": "CPV", "id": "66100000", "description": "Banking and investment services" } ], "deliveryAddresses": [ { "region": "UKM" }, { "region": "UKM" }, { "region": "UKM" } ], "relatedLot": "1" } ], "communication": { "futureNoticeDate": "2026-01-28T00:00:00Z", "atypicalToolUrl": "https://www.publictendersscotland.publiccontractsscotland.gov.uk" }, "submissionMethod": [ "electronicSubmission" ], "submissionMethodDetails": "https://www.publictendersscotland.publiccontractsscotland.gov.uk", "selectionCriteria": { "criteria": [ { "type": "economic", "description": "4B4. The bidder confirms the name, value and/or range of the financial ratios specified in the relevant Contract Notice are as follows: 4B.5 It is a requirement of this contract that bidders hold, or can commit to obtain prior to the commencement of any subsequently awarded contract, the types and levels of insurance indicated below:", "minimum": "4B.4 - Bidders must demonstrate a Current Ratio of no less than 1. Current Ratio will be calculated as follows: Total current assets divided by Total current liabilities. 4B.5 - -Public Liability 1,000,000 GBP(A sum not less than) -Professional Indemnity 1,000,000 GBP(A sum not less than) -Employers Liability (Legal Requirement) 5,000,000 GBP(A sum not less than) -Cyber Security 5,000,000 GBP(A sum not less than)", "appliesTo": [ "supplier" ] }, { "type": "technical", "description": "4C.4 - Provide a statement of the relevant supply chain management and/or tracking systems used. 4C.7 - Provide details of the environmental management measures which the bidder will be able to use when performing the contract. 4C.10 - Provide details of the proportion (i.e. percentage) of the contract that you intend to subcontract: Bidders will be required to confirm whether they intend to subcontract and, if so, for what proportion of the contract.", "minimum": "4C.4 - If bidders intend to use a supply chain to deliver the requirements detailed in the Contract Notice, they should confirm they have (or have access to) the relevant supply chain management and tracking systems to ensure a resilient and sustainable supply chain. This will include confirmation that they have the systems in place to pay subcontractors through the supply chain promptly and effectively, and provide evidence when requested of: a) their standard payment terms b) >=95% of all supply chain invoices being paid on time (in accordance with the terms of contract) in the last financial year. If the bidder is unable to confirm (b) they must provide an improvement plan, signed by their Director, which improves the payment performance. 4C.7 - Production and submission of evidence of steps taken to build awareness of the climate emergency and consideration of how the organisation plans to respond to it. This should include details of planned projects and actions to reduce the bidder's carbon emissions. 4C.10 - Bidders will be required to confirm whether they intend to subcontract and, if so, for what proportion of the contract.", "appliesTo": [ "supplier" ] } ] }, "otherRequirements": { "requiresStaffNamesAndQualifications": true }, "procurementMethod": "open", "procurementMethodDetails": "Open procedure", "techniques": { "hasFrameworkAgreement": true, "frameworkAgreement": { "maximumParticipants": 10 } }, "tenderPeriod": { "endDate": "2026-02-16T12:00:00Z" }, "submissionTerms": { "languages": [ "en" ], "bidValidityPeriod": { "durationInDays": 180 } }, "awardPeriod": { "startDate": "2026-02-16T12:00:00Z" }, "bidOpening": { "date": "2026-02-16T12:00:00Z" }, "hasRecurrence": false }, "parties": [ { "id": "GB-FTS-1538", "name": "Scottish Government", "identifier": { "legalName": "Scottish Government" }, "address": { "streetAddress": "5 Atlantic Quay, 150 Broomielaw", "locality": "Glasgow", "region": "UKM", "postalCode": "G2 8LU", "countryName": "United Kingdom" }, "contactPoint": { "name": "Caitlin Fullarton", "email": "caitlin.fullarton@gov.scot", "url": "https://www.publictendersscotland.publiccontractsscotland.gov.uk" }, "roles": [ "buyer", "centralPurchasingBody" ], "details": { "url": "http://www.scotland.gov.uk", "buyerProfile": "https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA10482", "classifications": [ { "id": "MINISTRY", "scheme": "TED_CA_TYPE", "description": "Ministry or any other national or federal authority, including their regional or local subdivisions" }, { "id": "04", "scheme": "COFOG", "description": "Economic affairs" } ] } }, { "id": "GB-FTS-155314", "name": "Edinburgh Sheriff Court & Justice of the Peace Court", "identifier": { "legalName": "Edinburgh Sheriff Court & Justice of the Peace Court" }, "address": { "streetAddress": "27 Chambers St", "locality": "Edinburgh", "postalCode": "EH1 1LB", "countryName": "United Kingdom" }, "roles": [ "reviewBody" ] }, { "id": "GB-FTS-6067", "name": "Scottish Government", "identifier": { "legalName": "Scottish Government" }, "address": { "streetAddress": "Victoria Quay", "locality": "Edinburgh", "region": "UKM", "postalCode": "EH6 6QQ", "countryName": "United Kingdom" }, "contactPoint": { "name": "Michael Brydon", "email": "michael.brydon@gov.scot" }, "roles": [ "buyer", "centralPurchasingBody" ], "details": { "url": "http://www.scotland.gov.uk", "buyerProfile": "https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA10482", "classifications": [ { "id": "MINISTRY", "scheme": "TED_CA_TYPE", "description": "Ministry or any other national or federal authority, including their regional or local subdivisions" }, { "id": "04", "scheme": "COFOG", "description": "Economic affairs" } ] } }, { "id": "GB-FTS-183772", "name": "Banco Santander, S.A., London Branch", "identifier": { "legalName": "Banco Santander, S.A., London 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"identifier": { "legalName": "Deutsche Bank AG, London Branch" }, "address": { "streetAddress": "21 Moorfields", "locality": "LONDON", "region": "UK", "postalCode": "EC2Y 9DB", "countryName": "United Kingdom" }, "roles": [ "supplier" ], "details": { "scale": "large" } }, { "id": "GB-FTS-183776", "name": "HSBC Bank plc", "identifier": { "legalName": "HSBC Bank plc" }, "address": { "streetAddress": "HSBC Bank plc, 1st Floor, 141 Bothwell Street,", "locality": "Glasgow", "region": "UK", "postalCode": "G2 7EQ", "countryName": "United Kingdom" }, "roles": [ "supplier" ], "details": { "scale": "large" } }, { "id": "GB-FTS-183777", "name": "Merrill Lynch International", "identifier": { "legalName": "Merrill Lynch International" }, "address": { "streetAddress": "2 King Edward St", "locality": "London", "region": "UK", "postalCode": "EC1A 1HQ", "countryName": "United Kingdom" }, "roles": [ "supplier" ], "details": { "scale": "large" } }, { "id": "GB-FTS-183778", "name": "NatWest Markets Plc", 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