861_25 Refuse Sacks · UK public procurement notice

The minimum financial requirement for the purposes of the current tender exercise is that Companies, Public Sector organisations and Third Sector organisations should have 'positive net assets' as determined from their Latest Year's Published Accounts. Partnerships, sole traders or other organisations who are not required by law to publish their annual accounts must similarly provide their annual accounts, and those annual accounts shall be used instead for the below assessment.

For net assets: - Total Net Assets or Shareholder's Funds lifted straight from the latest year's balance sheet should be positive.

It is important that the financial information provided relates specifically to the company registration number of the Tenderer completing the ITT.

If a Tenderer fails to pass the financial assessment and is part of a larger group, provided that the group accounts are provided to ESPO on request and these pass the financial test, a parent company guarantee may be acceptable provided the Tenderer is a 100% wholly owned subsidiary within the group.

In addition to the above test, ESPO will use a Credit Reference Agency to provide information on Tenderers. Where the Credit Reference Agency assigns the Tenderer a score indicating higher than moderate financial risk, ESPO will give further consideration to the financial information and financial stability of the Tenderer.

If ESPO has any reasonable cause for concern in relation to this information that cannot be reasonably resolved then this could give rise to the tender being rejected.

This contract will contain a contract monitoring clause which will require suppliers to ensure that there is no material detrimental change in their financial standing and/or their credit rating (as determined by use of a Credit Reference Agency).

Information on deadlines(s) for review procedures can be found in Part 3, Chapter 6 of the Public Contracts Regulations 2015.