Section one: Contracting authority
one.1) Name and addresses
BANK OF ENGLAND
Threadneedle Street
LONDON
EC2R8AH
Contact
Commercial Manager
Corporate.contracts@bankofengland.co.uk
Telephone
+44 2076011116
Country
United Kingdom
Region code
UKI31 - Camden and City of London
Justification for not providing organisation identifier
Not on any register
Internet address(es)
Main address
https://www.bankofengland.co.uk/
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://supplierlive.proactisp2p.com/Account/Login
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://supplierlive.proactisp2p.com/Account/Login
Tenders or requests to participate must be submitted to the above-mentioned address
Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at
https://supplierlive.proactisp2p.com/Account/Login
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Loan and Securities Collateral Legal Panel 2024
Reference number
REQ/1000207
two.1.2) Main CPV code
- 79100000 - Legal services
two.1.3) Type of contract
Services
two.1.4) Short description
The Bank of England (the "Bank") lends through its market operations against eligible collateral delivered by firms. This takes the form of either loan or securities collateral. To ensure that the collateral is eligible for the Bank's operations, legal due diligence is required, particularly when it comes to loan collateral. The Bank is therefore seeking 3 law firms to be part of a framework and to conduct legal reviews relating to collateral on a case-by-case basis. The overall contract value includes the costs of all reviews, which will ultimately be recharged to the firm that is seeking to position the collateral with the Bank.
two.1.5) Estimated total value
Value excluding VAT: £3,600,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 79100000 - Legal services
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
The Bank of England (the "Bank") lends through its market operations against eligible collateral delivered by firms. This takes the form of either loan or securities collateral. To ensure that the collateral is eligible for the Bank's operations, legal due diligence is required, particularly when it comes to loan collateral. The Bank is therefore seeking 3 law firms to be part of a framework and to conduct legal reviews relating to collateral on a case-by-case basis. The overall contract value includes the costs of all reviews, which will ultimately be recharged to the firm that is seeking to position the collateral with the Bank.
Tenders or requests to participate must also be submitted electronically via https://supplierlive.proactisp2p.com/Account/Login
Ref: PRJ/ 1000204
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
36
This contract is subject to renewal
No
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
List and brief description of conditions
See tender documents
three.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
three.1.3) Technical and professional ability
List and brief description of selection criteria
See tender documents
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Restricted procedure
four.1.3) Information about a framework agreement or a dynamic purchasing system
The procurement involves the establishment of a framework agreement
Framework agreement with several operators
Envisaged maximum number of participants to the framework agreement: 3
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: No
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
14 February 2024
Local time
12:00pm
four.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates
11 March 2024
four.2.4) Languages in which tenders or requests to participate may be submitted
English
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.4) Procedures for review
six.4.1) Review body
High Court, Royal Courts of Justice London
London
WC2A 2LL
Country
United Kingdom