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AwardedFind a Tender · award

Due Diligence Framework Agreement Lot 1 - Financial Due Diligence

Buyer: Scottish National Investment Bank →

BuyerScottish National Investment Bank
StatusAwarded
DeadlineNot published
ValueValue not published
Published26 Mar 2024

What is being bought

We are a mission-led development investment bank for Scotland, wholly owned by the Scottish Ministers on behalf of the people of Scotland. We have been established to operate commercially and are operationally independent from government. We invest in Scottish business, projects, and communities to deliver environment, social and financial returns for the people of Scotland. Our missions are at the heart of everything that we do. You can find out more about the Bank and our missions at our website www.thebank.scot. The Bank are setting up a Framework Agreement to undertake Due Diligence on potential investments which we are considering making. The framework will offer the Bank an efficient, cost-effective, and streamlined approach for procuring external support and expertise to assist reactive and consistent delivery of Due Diligence as it is required. The requirements are split into four Lots: Lot 1 - Financial Diligence Lot 2 – Model Audit Lot 3 – Tax diligence Lot 4 – Company Valuations This particular Contract notice and tender exercise relates to Lot 1 - Financial Diligence. Bidders who are interested in bidding for any of the other Framework Lots can do so by locating the respective PCS notices, all published on the same date.

Delivery location

UKM

Categories

Investment banking services and related services 66120000Financial consultancy services 66171000Business and management consultancy and related services 79400000

Lot details

Lot 1

The Bank are setting up a Framework Agreement to undertake Due Diligence on potential investments which we are considering making. The framework will offer the Bank an efficient, cost-effective, and streamlined approach for procuring external support and expertise to assist reactive and consistent delivery of Due Diligence as it is required. The requirements are split into four Lots: Lot 1 - Financial Diligence Lot 2 – Model Audit Lot 3 – Tax diligence Lot 4 – Company Valuations This particular tender exercise relates to Lot 1 - Financial Diligence. Bidders who are interested in bidding for any of the other Framework Lots can do so by locating the respective PCS notices, which were all published on the same date with.

Statuscancelled

Award criteria
Delivery Methodology — 30
Management Methodology — 20
Management & Delivery Team — 20
price — 30

What is included

ItemCategoryQuantity
1Financial consultancy services, Investment banking services and related servicesNot published

Comparable-procurement analytics

Benchmarked against retained Find a Tender procedures with CPV division 66. The category anchor is Investment banking services and related services (66120000); this is a deliberately broad market comparator. The comparison is shown at several levels rather than pretending one company or region is always the best benchmark.

Comparison setProceduresReported bids per procedureNamed award suppliersPrice evidence
Market: CPV division 662,7583 median · 17.2 average (1,185 of 2,758 with a bid count)2.5 average (1,317 of 2,758 with named award suppliers)Not published
Same buyer413 median · 13.7 average (3 of 4 with a bid count)5 average (3 of 4 with named award suppliers)Not published
Delivery region: UKM843 median · 18.1 average (39 of 84 with a bid count)3.9 average (52 of 84 with named award suppliers)Not published

“Reported bids” is an official aggregate, sometimes reported per lot; it is the closest available competition measure. “Named award suppliers” are winners, not all applicants.

Price-outcome signal

Not enough comparable procedures currently publish both a GBP tender value and a usable lowest-valid-bid value to calculate a responsible price-reduction benchmark. Tenderline deliberately does not infer a saving from named award suppliers or from missing award values.

Procurement strategy & market signals

Framework agreementYes
Dynamic purchasing systemNot published
Competitive procurementNot published
Recurring requirementNot published
Procurement method rationaleNot published
Rationale classificationsNot published
Special regimeNot published
Covered byGPA
Submission policyNot published
Selection criteriaNot published
Risk detailsNot published

Planning & early market engagement

BudgetNot published
No-engagement rationaleNot published
Planning documents0
Planning milestones0

No planning milestones published.

Related procurements

No linked framework, prior procurement or reprocurement published.

Awards

Contracts

009848-2024-1

Statusactive
Value£2,000,000

Documents & submission route

No documents are published in the current source record.

Source data inventory

Diagnostic view. “Not published” means this current release does not provide a value.

OCIDocds-h6vhtk-040f92
Latest release ID009848-2024
Latest release timestampTue Mar 26 2024 15:06:22 GMT+0000 (Coordinated Universal Time)
Sourcefind-a-tender
Official notice URLNot published
Tender statuscomplete
Procurement methodopen
Procurement method detailsOpen procedure
Main procurement categoryservices
Above thresholdNot published
Legal basis32014L0024
Tender period: startNot published
Tender period: endNot published
Expression of interest deadlineNot published
Enquiry deadlineNot published
Award period: startNot published
Award period: endNot published
Submission method detailsNot published
Submission languagesNot published
Electronic catalogue policyNot published
Total tender valueNot published
Tender lots in source1
Tender items in source1
Tender documents in source0
Awards in latest release1
Contracts in latest release1
Parties in latest release7

Notice history

DateEventReference
26 Mar 2024award, contract009848-2024
27 Oct 2023tender031765-2023

All source data

Unmodified official OCDS data retained by Tenderline for this procurement process.

Complete current OCDS release JSON
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Complete JSON history (2 releases)
26 Mar 2024 · 009848-2024 · award, contract
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      "awardID": "009848-2024-1",
      "dateSigned": "2024-03-01T00:00:00Z"
    }
  ],
  "description": "(SC Ref:761686)",
  "initiationType": "tender"
}
27 Oct 2023 · 031765-2023 · tender
{
  "id": "031765-2023",
  "tag": [
    "tender"
  ],
  "date": "2023-10-27T11:33:47+01:00",
  "ocid": "ocds-h6vhtk-040f92",
  "buyer": {
    "id": "GB-FTS-12628",
    "name": "Scottish National Investment Bank"
  },
  "links": [
    {
      "rel": "canonical",
      "href": "https://api.publiccontractsscotland.gov.uk/v1/Notice?id=ocds-r6ebe6-0000729135"
    }
  ],
  "tender": {
    "id": "ocds-h6vhtk-040f92",
    "lots": [
      {
        "id": "1",
        "status": "active",
        "hasOptions": false,
        "hasRenewal": false,
        "description": "The Bank are setting up a Framework Agreement to undertake Due Diligence on potential investments which we are considering making.  The framework will offer the Bank an efficient, cost-effective, and streamlined approach for procuring external support and expertise to assist reactive and consistent delivery of Due Diligence as it is required.\nThe requirements are split into four Lots:\nLot 1 - Financial Diligence\nLot 2 – Model Audit\nLot 3 – Tax diligence\nLot 4 – Company Valuations\nThis particular tender exercise relates to Lot 1 - Financial Diligence.\nBidders who are interested in bidding for any of the other Framework Lots can do so by locating the respective PCS notices, which were all published on the same date with.",
        "awardCriteria": {
          "criteria": [
            {
              "name": "Delivery Methodology",
              "type": "quality",
              "description": "30"
            },
            {
              "name": "Management Methodology",
              "type": "quality",
              "description": "20"
            },
            {
              "name": "Management & Delivery Team",
              "type": "quality",
              "description": "20"
            },
            {
              "type": "price",
              "description": "30"
            }
          ]
        },
        "contractPeriod": {
          "durationInDays": 1440
        },
        "submissionTerms": {
          "variantPolicy": "notAllowed"
        }
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UKM"
          }
        ],
        "additionalClassifications": [
          {
            "id": "66171000",
            "scheme": "CPV",
            "description": "Financial consultancy services"
          },
          {
            "id": "66120000",
            "scheme": "CPV",
            "description": "Investment banking services and related services"
          }
        ]
      }
    ],
    "title": "Due Diligence Framework Agreement Lot 1 - Financial Due Diligence",
    "value": {
      "amount": 2000000,
      "currency": "GBP"
    },
    "status": "active",
    "coveredBy": [
      "GPA"
    ],
    "bidOpening": {
      "date": "2023-11-30T14:00:00Z",
      "address": {
        "streetAddress": "Scottish National Investment Bank"
      }
    },
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "recurrence": {
      "description": "2027"
    },
    "techniques": {
      "frameworkAgreement": {
        "maximumParticipants": 5
      },
      "hasFrameworkAgreement": true
    },
    "awardPeriod": {
      "startDate": "2023-11-30T14:00:00Z"
    },
    "description": "We are a mission-led development investment bank for Scotland, wholly owned by the Scottish Ministers on behalf of the people of Scotland. We have been established to operate commercially and are operationally independent from government. We invest in Scottish business, projects, and communities to deliver environment, social and financial returns for the people of Scotland. Our missions are at the heart of everything that we do. You can find out more about the Bank and our missions at our website www.thebank.scot.\nThe Bank are setting up a Framework Agreement to undertake Due Diligence on potential investments which we are considering making.  The framework will offer the Bank an efficient, cost-effective, and streamlined approach for procuring external support and expertise to assist reactive and consistent delivery of Due Diligence as it is required.\nThe requirements are split into four Lots:\nLot 1 - Financial Diligence\nLot 2 – Model Audit\nLot 3 – Tax diligence\nLot 4 – Company Valuations\nThis particular Contract notice and tender exercise relates to Lot 1 - Financial Diligence.\nBidders who are interested in bidding for any of the other Framework Lots can do so by locating the respective PCS notices, all published on the same date.",
    "tenderPeriod": {
      "endDate": "2023-11-30T13:00:00Z"
    },
    "contractTerms": {
      "performanceTerms": "Please see the Lot 1 Specification.",
      "hasElectronicPayment": true,
      "hasElectronicOrdering": true,
      "electronicInvoicingPolicy": "allowed"
    },
    "hasRecurrence": true,
    "classification": {
      "id": "79400000",
      "scheme": "CPV",
      "description": "Business and management consultancy and related services"
    },
    "submissionTerms": {
      "languages": [
        "en"
      ],
      "bidValidityPeriod": {
        "durationInDays": 120
      }
    },
    "submissionMethod": [
      "electronicSubmission"
    ],
    "otherRequirements": {
      "requiresStaffNamesAndQualifications": true
    },
    "procurementMethod": "open",
    "selectionCriteria": {
      "criteria": [
        {
          "type": "suitability",
          "appliesTo": [
            "supplier"
          ],
          "description": "Not Applicable - all requirements are identified within the specification document."
        },
        {
          "minimum": "Those bidding must either have or committ to having the following insurance cover before entering any call off contract:\nProfessional Risk Indemnity Insurance - 1 million GBP for each and every claim\nEmployers Liability Insurance - 5 million GBP"
        }
      ]
    },
    "mainProcurementCategory": "services",
    "submissionMethodDetails": "https://www.publiccontractsscotland.gov.uk/",
    "procurementMethodDetails": "Open procedure"
  },
  "parties": [
    {
      "id": "GB-FTS-12628",
      "name": "Scottish National Investment Bank",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKM75",
        "locality": "Edinburgh",
        "postalCode": "EH1 3EG",
        "countryName": "United Kingdom",
        "streetAddress": "1-North, Waverley Gate, 2-4 Waterloo Place"
      },
      "details": {
        "url": "http://www.thebank.scot",
        "buyerProfile": "https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA30487",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "id": "04",
            "scheme": "COFOG",
            "description": "Economic affairs"
          }
        ]
      },
      "identifier": {
        "legalName": "Scottish National Investment Bank"
      },
      "contactPoint": {
        "url": "https://www.publiccontractsscotland.gov.uk/",
        "email": "procurement@thebank.scot",
        "telephone": "+44 7776549095"
      }
    },
    {
      "id": "GB-FTS-1033",
      "name": "Edinburgh Sheriff Court",
      "roles": [
        "reviewBody"
      ],
      "address": {
        "locality": "Edinburgh",
        "countryName": "United Kingdom"
      },
      "identifier": {
        "legalName": "Edinburgh Sheriff Court"
      }
    }
  ],
  "language": "en",
  "description": "NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at https://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=729135.\nThe buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at https://www.publiccontractsscotland.gov.uk/sitehelp/help_guides.aspx.\nSuppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems.\nCommunity benefits are included in this requirement. For more information see: https://www.gov.scot/policies/public-sector-procurement/community-benefits-in-procurement/\nA summary of the expected community benefits has been provided as follows:\nThe Bank is looking for a supplier who, in carrying out their obligations under this framework, will bring benefit to the local and broader Scottish community in compliance with the requirement. Please see Lot 1 Evaluation Criteria for full details.\n(SC Ref:729135)",
  "initiationType": "tender"
}