Section one: Contracting authority
one.1) Name and addresses
Financial Ombudsman Service
Exchange Tower, Harbour Exchange Square,
London
E14 9SR
Contact
Peter Gamble
Peter.Gamble@financial-ombudsman.org.uk
Telephone
+44 8000234567
Country
United Kingdom
Region code
UKI4 - Inner London – East
Internet address(es)
Main address
www.financial-ombudsman.org.uk
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://procurement.financial-ombudsman.org.uk/web/login.html
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://procurement.financial-ombudsman.org.uk/web/login.html
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
Agency Treasury Services
Reference number
ten_891
two.1.2) Main CPV code
- 66600000 - Treasury services
two.1.3) Type of contract
Services
two.1.4) Short description
The Ombudsman Services wishes to contract with a partner to provide Agency Treasury Services to invest our cash reserves in line with our Investment Policy. The contract will be for an initial period of 2 years with the option to extend for up to a further 2 years
two.1.5) Estimated total value
Value excluding VAT: £470,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKI4 - Inner London – East
two.2.4) Description of the procurement
To provide, within the scope of the Financial Ombudsman Service's Investment Policy, an agency treasury service. This shall include, but not be limited to:
a) establishing the daily cash position to enable the Ombudsman Service to determine how much can be placed overnight and term. For the avoidance of doubt, the ATS wouldn't have access to the Ombudsman Service's current account;
b) working on instruction (amount and duration) to invest funds using approved instruments and counterparties to meet the Ombudsman Service's working capital requirements;
c) daily monitoring of our counterparties to ensure they remain within a credit limit threshold, and managing the investment concentration risk of funds placed with each counterparty, suggesting new counterparties as and when appropriate;
d) producing standard daily, weekly and monthly reports to ensure that the actual investment performance can be measured against agreed benchmarks; the credit limits and concentration risk with each counterparty are regularly monitored and managed; the funds invested and interest earned are correct and that trades dealt are confirmed on a daily basis; and,
e) supporting the annual review of the Investment Policy with respect to assessing approved counterparty criteria and identifying banks that meet the criteria and providing advice with respect to any changes in these arrangements (for example ring-fencing).
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
24
This contract is subject to renewal
Yes
Description of renewals
Option to extend for up to 24 months
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 up to 24 months after the initial period
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 estimated value of 470000, is based on the Ombudsman Service taking up the option(s) to extend the contract for up to a further 24 months after the initial period
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
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
17 April 2023
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: 12 (from the date stated for receipt of tender)
four.2.7) Conditions for opening of tenders
Date
17 April 2023
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 invoicing will be accepted
Electronic payment will be used
six.3) Additional information
The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement.
six.4) Procedures for review
six.4.1) Review body
Financial Conduct Authority
12 Endeavour Square
London
E20 1JN
Country
United Kingdom