Section one: Contracting authority
one.1) Name and addresses
THE FINANCIAL REPORTING COUNCIL LIMITED
8th Floor,125 London Wall
LONDON
EC2Y5AS
Contact
Head of Procurement
Telephone
+44 2074922300
Country
United Kingdom
NUTS code
UKI - London
Companies House
2486368
Internet address(es)
Main address
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://www.contractsfinder.service.gov.uk/Notice/038474a7-d56e-4d99-9d35-fa0ae26eb982
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted to the above-mentioned address
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
Levy Collection Services
Reference number
FRC2023-034
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
The purpose of the Financial Reporting Council (FRC) is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them.
Our direct stakeholders include companies, institutional investors, auditors, actuaries, accountants and their respective professional bodies. Our indirect stakeholders include retail shareholders, suppliers, employees, customers, communities, pensioners and savers, and financial institutions, all of whom have an interest in the health of companies and other organisations within our existing and future regulatory scope and in the success of the UK corporate sector as a whole.
By agreement with DBT and HM Treasury, the FRC is funded partly through a levy on the following organisations that are subject to, or have regard to, FRC regulatory requirements in preparing their accounts:
• Companies listed on the London Stock Exchange, and UK AIM and AQUIS Market group companies with an equity share listing.
• Large private entities with a turnover of £500m or more. Subsidiaries of UK listed companies with a turnover of £500m or more are invoiced on the same invoice as their parent company.
• Standard Global Depository Receipt companies ('GDRs'). • Government Departments and other public sector organisations that publish accounts.
Further information on the FRC's funding can be found: -
https://www.frc.org.uk/about-the-frc/funding
This procurement activity seeks to engage an organisation to collect levy fees on the FRC's behalf.
Please refer to https://www.contractsfinder.service.gov.uk/Notice/038474a7-d56e-4d99-9d35-fa0ae26eb982 for further information.
two.1.5) Estimated total value
Value excluding VAT: £400,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66000000 - Financial and insurance services
two.2.3) Place of performance
NUTS codes
- UKI - London
two.2.4) Description of the procurement
Levy Administration Collection Services including but not limited to
• Issuing and sending all invoices to all Levy Payers
• Reminders and Chasers
• Payment request enquiries
• Reconciliation of Levies received
• Managing Refunds
• Operation and Customer Service
• Account Management
• Reporting and MI
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
48
This contract is subject to renewal
Yes
Description of renewals
3 years initial term to the option to extend for a further 12 months.
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: Yes
Description of options
12 Month Extension permitted
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
Please refer to the ITT
which can be located via https://www.contractsfinder.service.gov.uk/Notice/038474a7-d56e-4d99-9d35-fa0ae26eb982
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
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
4 March 2024
Local time
12:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.7) Conditions for opening of tenders
Date
4 March 2024
Local time
12:05pm
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
Head of Procurement
London
Country
United Kingdom