Sponsor Bank Service
Description: The Department for Work and Pensions (DWP) wish to give notice of planned procurement opportunity in relation to two linked but separate future procurements for DWP payment contingency services (together referred to in this notice as the "Payment Contingency Services ("PCS")). The intention of the PCS is to ensure DWP has robust contingencies in place to make benefit and pension entitlement payments to its customers on the dates they are due. The PCS are invoked only in exceptional circumstances where there is a delay in DWP releasing Bacs payment file(s). The DWP intends for the relevant services to be provided under two separate, interdependent contracts (both of which are required to allow for invocation of PCS) as follows: Short Term Payment Contingency ("STPC") - Lot 1: This service (read more...)
Summary: The Department for Work & Pensions (DWP) is planning a procurement process for its Sponsor Bank Service, under the Payment Contingency Services framework. This procurement is crucial for ensuring that benefit and pension payments are made timely in exceptional circumstances where there is a delay in the release of Bacs payment files. The service will be provided under a selective procurement method through a competitive flexible procedure. Key dates include an expression of interest deadline on 16th October 2026 and an enquiry period ending on 2nd October 2026. The contract, which is valued at approximately £1.35 million, will commence on 1st July 2027 in London and run for five years, with a possible renewal of up to 24 months.