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Procurement of Banking Services

Banking and investment services
Banking services
South East (UKJ12)
Published value
£490,000
Submission deadline 6 Feb 2023, 12:00 GMT
Lots published1
Procurement Executive Summary
AI & Search Synopsis
Generated from official OCDS record
Tenderline Synopsis: Milton Keynes Council: "Procurement of Banking Services". Published status: active. Published value: £490,000. 1 published lot. Recorded submission deadline: 6 Feb 2023, 12:00 GMT. See the official notice for participation instructions.
Contracting AuthorityMilton Keynes CouncilScope & CategoriesNot publishedSubmission Window
Closed
6 Feb 2023, 12:00 GMT
Submission GatewayDirect notice routeLegal Basis & RegimeStandard procurementEstimated Value (exc. VAT)£490,000
Bidder Intelligence · Authority Profile: Milton Keynes Council
Market Analytics
View Authority Profile →
Derived from OCDS awards & bid statistics
Published history for Milton Keynes Council. These figures describe retained records, not a forecast of bids or a measure of buyer bias.
Published-to-award variance
Not availableInsufficient comparable data
Requires at least 5 comparable procedures
Competition Density
3.3Bids / Report
0% of reports have one bid
Supplier ConcentrationNo estimate
Insufficient attributable awardsNo concentration estimate available
Payment Terms
Check noticePublished terms
Payment obligations depend on the applicable regime and contract. Consult the official documents.
Coverage: 3 active published awards; 3 bid reports (which may be per lot). Supplier values exclude multi-supplier awards, frameworks and DPS, and use GBP only. They are published award values, not payments. Published-to-award variance compares single-lot, single-award, single-supplier GBP procedures with explicitly non-framework/non-DPS status; increases remain in the average. Unpublished data stays unknown. Awarded suppliers are winners, not all bidders.
Procedure terms
Contracting AuthorityMilton Keynes Council
Procedure methodNot published
Procurement categoryNot published
Statusactive
Framework / DPSNot published
CompetitionNot published
Above thresholdNot published
Legal basisNot published
Tender period startsNot published
Clarification deadlineNot published
Electronic submissionNot published
Submission languagesNot published
Published5 Jan 2023, 14:53 GMT
Last source update5 Jan 2023, 14:53 GMT
Recurring procurementYes
ClassificationBanking and investment services, Banking services
Delivery area
South East (UKJ12)
OCIDocds-h6vhtk-039551
What is being bought
The Council is seeking to appoint a banking service provider to deliver day-to-day banking services and transactional facilities. This contract will also extend to Local Education Authority (LEA) maintained schools within Milton Keynes, the Council’s subsidiary organisation Milton Keynes Development Partnership LLP, and any other subsidiaries that may be later established. The Council proposes to enter a contract for an initial period of 5 years with the successful tenderer (Service Provider) with an option to extend for a further 2 years. The anticipated contract commencement date is 01 April 2023. Should this tender result in the appointment of a new Service Provider then, to ensure a smooth onboarding transition, the commencement date may be deferred subject to mutual agreement but shall commence no later than 01 October 2023.
What changed
From the official release history
  1. Published value updated to £490,000
    5 Jan 2023, 14:53 GMT
  2. Status changed to active
    5 Jan 2023, 14:53 GMT
  3. Official notice release published
    5 Jan 2023, 14:53 GMT
  4. Submission deadline changed to 6 Feb 2023, 12:00 GMT
    5 Jan 2023, 14:53 GMT
  5. Buyer information updated
    5 Jan 2023, 14:53 GMT
Lots and requirements (1)
Published by the contracting authority
  • Lot 1 · #1
    Individual lot title not published
    active
    Published value£490,000
    The Council is seeking to appoint a banking service provider to deliver day-to-day banking services and transactional facilities. This contract will also extend to Local Education Authority (LEA) maintained schools within Milton Keynes, the Council’s subsidiary organisation Milton Keynes Development Partnership LLP, and any other subsidiaries that may be later established.
    Contract periodNot published
    EligibilityNot published
    Options / renewalNot published
Timeline
  1. Procedure published
    5 Jan 2023, 14:53 GMT
  2. Submission deadline
    6 Feb 2023, 12:00 GMT
Commercial outcome and competition
AwardsNo award published
ContractsNo contract published
Bid statisticsNo aggregate bid statistics published
Buyer and organisations in this procedure

Milton Keynes Council

Contracting authority GB-FTS-59191
View buyer profile
Documents (2)
Official links; attachments are not copied

  • economicSelectionCriteria

    tender
    economicSelectionCriteria

  • technicalSelectionCriteria

    tender
    technicalSelectionCriteria
Related procedures (0)
No data
No related procedures published