Opportunity

Levy Collection Services

  • THE FINANCIAL REPORTING COUNCIL LIMITED

F02: Contract notice

Notice reference: 2024/S 000-003401

Published 1 February 2024, 3:29pm



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

Email

Procurement@frc.org.uk

Telephone

+44 2074922300

Country

United Kingdom

NUTS code

UKI - London

Companies House

2486368

Internet address(es)

Main address

https://www.frc.org.uk/

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

Email

Procurement@frc.org.uk

Country

United Kingdom