Published date: 23 August 2024

Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.


Closing: 20 September 2024, 10am

Contract summary

Industry

  • Treasury services - 66600000

Location of contract

East of England

Value of contract

£25,000 to £50,000

Procurement reference

BIP884827134

Published date

23 August 2024

Closing date

20 September 2024

Closing time

10am

Contract start date

1 November 2024

Contract end date

31 October 2029

Contract type

Service contract

Procedure type

Open procedure

Any interested supplier may submit a tender in response to an opportunity notice.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

The finance function for Three Rivers District Council (TRDC) and Watford Borough Council (WBC) is delivered under a shared service arrangement, which is hosted by TRDC. The Shared Finance Service undertakes the treasury management function for both councils.

The finance team recognises that gaining access to both general and specific advice concerning treasury management from an external provider would likely result in positive benefits, over costs, to both authorities. The contract with our current treasury management advisor ends on 31st October 2024. Therefore, the finance shared service is looking to procure treasury management advisory services, by inviting those organisations that meet the requirements as detailed in this specification to submit a tender to bid for said services.

The new contract will run for an initial period of three years from 1st November 2024 to 31st October 2027 with the possibility of extending the contract for a further two years after the initial three years.

The contact will be let either as two individual contracts for each authority or as a single joint contract across the two authorities, however in the event of a single joint contract award, it is expected that the liability cover and duty of care would be extended to both authorities. The specification of requirements will be the same for both authorities and the scoring mechanism will be done as one, with the same outcome and contract award for both authorities.

Please find the tender documents and instructions as part of this tender

More information

Links

Additional text

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.

About the buyer

Contact name

Derek Hatcher

Address

Northway
Rickmansworth
WD3 1RL
UK

Telephone

01923278370

Email

derek.hatcher@watford.gov.uk