Published date: 25 October 2018

This notice was replaced on 8 January 2019

This notice does not contain the most up-to-date information about this procurement. The most recent notice is:

Awarded contract (published 8 January 2019)

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.


Contract summary

Industry

  • Banking and investment services - 66100000

Location of contract

North West

Value of contract

£800,000

Procurement reference

AP/CORP/LCC/18/742

Published date

25 October 2018

Closing date

27 November 2018

Contract start date

1 April 2019

Contract end date

31 March 2029

Contract type

Service contract

Procedure type

Open procedure (above threshold)

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

This procedure can be used for procurements above the relevant contract value threshold.

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

Lancashire County Council (the Authority) is seeking to appoint an investment grade commercial bank to process the financial transactions of the Authority as well as other organisations for which the Authority provides banking and treasury management services via annual service level agreements. These organisations currently include the Police and Crime Commissioner for Lancashire, Lancashire Combined Fire Authority, Lancashire County Pension Fund, and Lancashire County Developments Ltd.

The Authority currently manages banking services by operating six main accounts, three supplementary accounts, and circa 300 low value/low volume Imprest/sub Imprest petty cash accounts. These are structured in a way that allows for pooling of balances for certain accounts.

The Authority requires an investment grade commercial bank to provide and maintain these accounts, providing BACS and CHAPS clearing, faster payments, cash processing, foreign payments and currency and any other financial transactions that may be required. There is also a requirement to provide online banking facilities.

The Authority intends to utilise a lifecycle costing approach to this tender. More specifically, the Authority has developed an estimate for the cost of change that the Authority will incur to update the information technology of the Authority's financial systems in the event of a change of provider. This figure will be factored into the financial evaluation as described in the tender documents.

More information

Links

About the buyer

Contact name

Andy Patten

Address

Lancashire County Council Procurement Service, County Hall
Preston
PR1 8XJ
England

Telephone

01772 536452

Email

contractscorporate@lancashire.gov.uk