Section one: Contracting authority
one.1) Name and addresses
Scottish Government
4 Atlantic Quay, 70 York St
Glasgow
G2 8EA
Contact
Caitlin Fullarton
Telephone
+44 412425466
Country
United Kingdom
NUTS code
UKM - Scotland
Internet address(es)
Main address
Buyer's address
https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA10482
one.2) Information about joint procurement
The contract is awarded by a central purchasing body
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
one.4) Type of the contracting authority
Ministry or any other national or federal authority
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
DFSED-Financial Advisor for Scottish Government Bonds
Reference number
746819
two.1.2) Main CPV code
- 66171000 - Financial consultancy services
two.1.3) Type of contract
Services
two.1.4) Short description
As outlined in the Scottish Government Borrowing Memorandum (link below) the Scottish Government is continuing to work towards an inaugural Scottish Government Bond Issuance. For the next stage of the due diligence process the Scottish Government is seeking a financial advisor to assist in determining the specific conditions, and policy parameters, which will frame a successful Bond issuance. This will focus on, but not be limited to, the following:
- Timing considerations for an inaugural issuance given market conditions and related events.
- The frequency of issuances to best meet Scottish Government fiscal and economic objectives.
- Consideration of formal “Use of Proceeds” such as “Green Bonds”.
The link to the Scottish Government Borrowing Memorandum is: https://www.gov.scot/publications/scottish-budget-2025-2026-scottish-government-borrowing/
two.1.5) Estimated total value
Value excluding VAT: £1,500,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKM - Scotland
two.2.4) Description of the procurement
The Service Provider will provide The Purchaser with independent advice on (1) evaluating the merits of, and (2) undertaking all the preparatory steps required for, the issue of an inaugural credit rating(s) and a public, listed bond. For the avoidance of doubt, the appointment will not include the role of bookrunning of any such bond issue.
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 70
Price - Weighting: 30
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
24
This contract is subject to renewal
Yes
Description of renewals
Option to extend for a further two 12-month periods at the sole discretion of the Scottish Government.
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: Yes
Description of options
Option to extend for a further two 12-month periods at the sole discretion of the Scottish Government.
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
two.2.14) Additional information
The anticipated contract value is 1,000,000 GBP- 1,500,000 GBP (excluding VAT).
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.2) Economic and financial standing
List and brief description of selection criteria
4B.4 -The bidder confirms the name, value and/or range of the financial ratios specified in the relevant Contract Notice.
4B.5 - The Bidder confirms they already have or can commit to obtain, prior to the commencement of the contract, the levels of insurance cover indicated in the relevant Contract Notice.
Minimum level(s) of standards possibly required
4B.4 - Bidders must demonstrate a Current Ratio of no less than 1.0. Current Ratio will be calculated as follows: Total current assets divided by Total current liabilities.
There must be no qualification or contra-indication from any evidence provided in support of the bidders economic and financial standing.
4B.5 - Professional Risk Indemnity Insurance - 5,000,000 GBP (A sum not less than)
Public Liability Insurance - 1,000,000 GBP (A sum not less than)
Employees Liability Insurance - in accordance with any legal obligation
three.1.3) Technical and professional ability
List and brief description of selection criteria
4C.4 - Provide a statement of the relevant supply chain management and/or tracking systems used.
4C.7 - Provide details of the environmental management measures which the bidder will be able to use when performing the contract.
4C.10 - Provide details of the proportion (i.e. percentage) of the contract that you intend to subcontract: Bidders will be required to confirm whether they intend to subcontract and, if so, for what proportion of the contract.
Minimum level(s) of standards possibly required
4C.4 - If bidders intend to use a supply chain to deliver the requirements detailed in the Contract Notice, they should confirm they have (or have access to) the relevant supply chain management and tracking systems to ensure a resilient and sustainable supply chain. This will include confirmation that they have the systems in place to pay subcontractors through the supply chain promptly and effectively, and provide evidence when requested of:
a) their standard payment terms
b) ≥95% of all supply chain invoices being paid on time (in accordance with the terms of contract) in the last financial year.
If the bidder is unable to confirm (b) they must provide an improvement plan, signed by their Director, which improves the payment performance.
4C.7 - Production and submission of evidence of steps taken to build awareness of the climate emergency and consideration of how the organisation plans to respond to it. This should include details of planned projects and actions to reduce the bidder’s carbon emissions.
4C.10 - Bidders will be required to confirm whether they intend to subcontract and, if so, for what proportion of the contract.
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.6) Information about electronic auction
An electronic auction will be used
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2024/S 000-039353
four.2.2) Time limit for receipt of tenders or requests to participate
Originally published as:
Date
20 February 2025
Local time
12:00pm
Changed to:
Date
21 February 2025
Local time
12:00pm
See the change notice.
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.6) Minimum time frame during which the tenderer must maintain the tender
Duration in months: 6 (from the date stated for receipt of tender)
four.2.7) Conditions for opening of tenders
Date
21 February 2025
Local time
12:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.2) Information about electronic workflows
Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
six.3) Additional information
The buyer is using PCS-Tender to conduct this ITT exercise. The Project code is 28403. For more information see: http://www.publiccontractsscotland.gov.uk/info/InfoCentre.aspx?ID=2343
A sub-contract clause has been included in this contract. For more information see: http://www.publiccontractsscotland.gov.uk/info/InfoCentre.aspx?ID=2363
Community benefits are included in this requirement. For more information see: https://www.gov.scot/policies/public-sector-procurement/community-benefits-in-procurement/
A summary of the expected community benefits has been provided as follows:
The tenderer must provide a Community Benefits proposal that is relevant to the subject matter of this contract and supports the Scottish Ministers’ commitment to contributing to the social, economic & environmental well-being of the people of Scotland.
(SC Ref:788379)
six.4) Procedures for review
six.4.1) Review body
Edinburgh Sheriff Court and Justice of the Peace Court
Edinburgh
EH1 1LB
Country
United Kingdom