Finance Provider and Dealership Audit Service Tender

Since 2010, the UK has been in breach of the legal limits of levels of Nitrogen Dioxide (NO2) in major urban areas. The 2008 Ambient Air Quality Directive (2008/50/EC) set legally binding limits for concentrations of major air pollutants that affect human health, including NO2 and particulates. The Air Quality Standards Regulations 2010 transposed the 2008 Directive into English law and requires the Secretary of State to draw up and implement a national air quality plan to achieve the relevant limit within the ‘shortest possible time’

One of the measures that has been put into place is the setting up of a Financial Support Scheme which has been created and will provide financial assistance for taxis and commercial vehicle’s encompassing LGV’s & HGV’s which will be delivered through two procured mechanisms:

• a Financial Support Scheme(“FSS”) providing a digital upfront platform for automated eligibility checking of both Applicants and vehicles and grant payments to Applicants who choose this funding option. This platform will also manage the network of dealerships who will be accredited to the Financial Support Scheme and the monitoring and draw down of funds.
• a Vehicle Finance Framework of FCA accredited Financiers who will be able to offer preferential vehicle finance loans to Applicants due to the interest element being paid directly by TfGM to the Financier. These two services have been procured separately as integral elements delivering the overall customer journey requiring defined interfaces to manage the customer experience.

TfGM is looking to establish a contract for the appointment of an organisation with experience in the asset finance industry to provide an Auditing and Monitoring service to support the Financial Support Scheme (FSS).

This service will be for the provision of auditing and monitoring services across the Financiers appointed to the Framework and also the Dealerships accredited to the Financial Support Scheme. It will support the operational management of the Financial Support Scheme through the provision of “second line” assurance over the distribution of funds through both grant monies and preferential finance.

The establishment of the service is required during early 2022 to enable a full mobilisation prior to the commencement of an agreed quarterly auditing cycle and the first auditing cycle will be undertaken 3 months post Go-Live of the Financial Support Scheme.