Section one: Contracting authority
one.1) Name and addresses
National Employment Savings Trust (NEST)
10 South Colonnade 1st floor
London
E14 4PU
david.draper@nestcorporation.org.uk
Country
United Kingdom
NUTS code
UK - United Kingdom
Internet address(es)
Main address
https://nesttenders.bravosolution.co.uk/
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://nesttenders.bravosolution.co.uk/
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://nesttenders.bravosolution.co.uk/
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
Nest Scheme Banking Services
Reference number
TEN-2324-015
two.1.2) Main CPV code
- 66110000 - Banking services
two.1.3) Type of contract
Services
two.1.4) Short description
A new banking contract for the National Employment Savings Trust (Nest) Scheme.
two.1.5) Estimated total value
Value excluding VAT: £2,000,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
This ITT is to procure a new banking contract for the National Employment Savings Trust (Nest) Scheme, which is used for managing members contributions into the scheme, providing valuations of member’s pension pots within the scheme, and paying member’s benefits out of the scheme (including the transfer of funds into and out of member’s other pension pots).
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
156
This contract is subject to renewal
Yes
Description of renewals
This contract will be renewed upon expiry as banking services will be an ongoing requirement.
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
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: Yes
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
28 March 2024
Local time
12:00pm
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
28 March 2024
Local time
12:00pm
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
London
Country
United Kingdom
six.4.3) Review procedure
Precise information on deadline(s) for review procedures
The contracting authority will operate a minimum 10 calendar day standstill period at the point information on the award of the contract is communicated to tenderers to provide time for unsuccessful tenderers to challenge the award decision before the contract is entered into.
Unsuccessful tenderers shall be notified by the contracting authority as soon as possible after the decision is made as to the reasons why they were unsuccessful.