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Published 6 Jan 2022, 16:15 GMT

Official UK procurement notice

Banking Services · UK public procurement notice

Official notice

Authority: Portsmouth City Council (Local council)

ServicesOpen procedure
Sectors: Financial and insurance services (66) Delivery: South East (UKJ31)
Published estimate£277,000exc. VAT
Submissions closed 18 Feb 2022

What is being bought

Published requirement description

Portsmouth City Council - the Council - is inviting tenders from suitably qualified financial institutions for the provision of corporate banking services.

Full specification is available via the link below:

in-tendhost.co.uk/portsmouthcc/aspx/home/ ↗

The Council will enter into contract with the successful bidder on the basis of a 5 year term extendable by a further 5 years in increments to be agreed subject to performance and agreement of both parties.

The Council will run the procurement process in accordance with the 'Open' procedure as set out within the Public Contracts Regulations (2015) in line with the following programme:

Invitation to Tender Pack made available: 10th January 2022

Deadline for requests for clarification: 11th February 2022 16:00

Tender return deadline: 18th February 2022 16:00

Deadline for return of Company Reference Questionnaires from client referees: 18th February 2022 16:00

Interviews - if required: W/C 7th March 2022

Standstill period: 11th March 2022 - 21st March 2022

Contract award & mobilisation: 22nd March 2022

Contract commencement: 2nd March 2023

The contract will commence on 2nd March 2023. The Council is aiming to award the contract by 22nd March 2022.

Application is via completed tender submission by the date above via the

Council's e-sourcing solution which will be used to administrate the procurement process

and is accessible free of charge via the link below:

in-tendhost.co.uk/portsmouthcc/aspx/home/ ↗

CPV: Banking services · Central bank services · Deposit services

The lotProcurement structure

single lot · value published
Lot #1RenewalPublished value£277,000
Delivery: South East
Extensions: The Council will enter into contract with the successful bidder on the basis of a 5 year term extendable by a further 5 years in increments to be agreed subject to performance and agreement of both parties.Variant bids: not allowed
66111000 Central bank services66112000 Deposit services

What it takes to win
i

How this buyer will score bids.

The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).

Evaluation split and conditions of participation as published; the tender pack may add more
Conditions of participation1
  • Suitability

    Suppliers will be expected to meet the Council's minimum investment criteria. This means the bank should meet the following minimum credit ratings:

    Short Term Rating

    F1 (or equivalent) from Fitch, Moody's (P-2) or Standard and Poor (A-2)

    Long Term Rating

    BBB (triple B category) or equivalent from Fitch, Moody's or Standard & Poor

    When an institution has differing ratings from different agencies, the lowest rating will be used to assess its suitability. Those institutions which have no ratings from a particular agency will not be discarded because of the lack of ratings.

Procedure terms & legal framework

From the official record
Procedure method
Open procedure
Legal basis
CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category
Services
Notice status
Closed
Procurement threshold
Unspecified in notice
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Competitive procedure
GPA / WTO covered
Yes (GPA)
Recurring procurement
No (one-off requirement)
First published
6 Jan 2022, 16:15 GMT
Last source update
6 Jan 2022, 16:15 GMT
Award evaluation window
18 Feb 2022 – …
FTS notice number
2022/S 000-000356
Classification (CPV)
Banking servicesCentral bank servicesDeposit services
Delivery area
South East (UKJ31)
Official registry OCID
ocds-h6vhtk-0307f9 Find a Tender

How it was run

Official notice
Run through: In-tend · Who buys & how to bid on In-tend
Supplier login requiredLanguage: EN
Access & registration note: Free · one account per buying organisation's portal · reCAPTCHA on signup
Submission deadline
18 Feb 2022, 13:00 GMT
Submission channel
{"electronicSubmission"}
Accepted languages
en
Bids opened
18 Feb 2022, 14:00 GMT
Detailed submission instructions & authority contactsFrom official release

in-tendhost.co.uk/portsmouthcc/aspx/home ↗

Timeline

6 Jan 2022 → 18 Feb 2022 · 3 dates
  1. Notice published
    6 Jan 2022, 16:15 GMT
  2. Submission deadline
    18 Feb 2022, 13:00 GMT
  3. Bids opened
    18 Feb 2022, 14:00 GMT

Contracting authority & participating public bodies

PORTSMOUTH CITY COUNCIL

Contracting authorityLocal CouncilRegional or local authorityGeneral public services City Council, Portsmouth, South East, PO12BGContact name, email, phone Published organisation website ↗

Dispute resolution & review bodies

  • The High Court of JusticeReview body LondonContact phone

Official documents & specifications (2)

Official links; attachments are not copied

Tender pack and attachments

  • Economic and financial selection criteriatenderEconomic and financial selection criteria
  • Technical selection criteriatenderTechnical selection criteria