Published date: 11 December 2018

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 23 November 2018

Contract summary

Industry

  • Financial and insurance services - 66000000

  • Banking and investment services - 66100000

  • Banking services - 66110000

    • Investment banking services and related services - 66120000

Location of contract

Any region

Value of contract

£800,000 to £1,200,000

Procurement reference

HCA001-DN374725-74550644

Published date

11 December 2018

Closing date

23 November 2018

Contract start date

1 January 2019

Contract end date

1 January 2023

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?

No

Contract is suitable for VCSEs?

No

Description

As security for our investments placed with borrowing entities, our borrowers are required to secure to us the bank account through which they receive and recycle sales proceeds on their development. The accounts are secured to us through a fixed charge and assignment, most often through a debenture over all company books and assets. The accounts are opened by our borrowers (in their own name) but are to be operated on a joint signatory basis between Homes England and the borrower, in the absence of any enforcement action.

A notice of charge and assignment is served by the borrower upon the bank, and requires acknowledgement to Homes England and the borrower of the content within - notably signatory requirements and waiver of any right of set-off over the account.

We require a framework of banks whom our borrowers can approach in order to receive this service in a consistent manner.
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More information

Previous notice about this procurement

Investments Account Bank

  • Opportunity
  • Published 2 November 2018

Award information

Awarded date

11 December 2018

Contract start date

25 December 2018

Contract end date

1 January 2023

Total value of contract

£1,000,000

This contract was awarded to 1 supplier.

The Royal Bank of Scotland

Address

EC2M 4AA

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Contact name

Katie Dawson

Address

St. Georges House
Kingsway
Gateshead
NE11 0NA
England

Telephone

+44 1914977608

Email

Katie.Dawson@homesengland.gov.uk

Website

https://www.gov.uk/government/organisations/homes-england