Published date: 20 August 2018
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Financial management consultancy services - 79412000
Location of contract
West Midlands, London
Value of contract
£41,000
Procurement reference
PROC.04.0141
Published date
20 August 2018
Closing date
18 July 2018
Contract start date
31 July 2018
Contract end date
8 August 2019
Contract type
Service contract
Procedure type
Call-off from a framework agreement
A mini-competition or direct purchase from a pre-established framework agreement.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
Scope of work
There are some areas of work that we have identified that we require to be delivered in phase one of this contract. There may then be further work required following phase one. We will then be able to call on this resource when required through the call off contract.
First discrete piece of work (Phase one)
We are looking at ways in which we can use the existing water company licences and our wider policy approach to support financial resilience. We have undertaken a review of the existing company licences to identify areas where they can be strengthened. Under phase one we require one or two Key Personnel to input into the ongoing work in relation to the way in which the ring fence operates and how we can make it more effective. We are seeking support across this work package and as an indication some of the areas that we may wish the Key Personnel to contribute to include but are not limited to:
• Operation of the financial ring fence and the existing consents framework.
• Quality, consistency and content of ring fence certificates provided by companies.
• Use of credit ratings and cash lock up mechanisms and impact of changing trigger levels on other factors such as cost of capital/company financing.
• Impact of existing securitisation arrangements on the resilience of companies.
• Impact of group loan arrangements on the resilience of companies.
• Use of existing covenants within company borrowing arrangements to support resilience.
• Other issues relating to the ownership, funding and performance of companies.
• Any suggestions the Key Personnel may have in addition to the above list.
We anticipate there will be an initial 20 days of work to contribute to the above. This will be negotiated before the work commences, based on the exact scope of work and the experience and skills of the Key Personnel.
Further phases
We anticipate that there will be occasions during the rest of the financial year where we will need further specialist financial support. We will call off on the contract as needed after the first discrete piece of work to the end of July 2019. There may be the possibility of an option to extend the contract but the duration is subject to internal approval. The Customer will notify the Contractor once internal approval has been obtained or otherwise.
The Customer will provide the Contractor 7 Working Days' written notice or other time period as agreed by the Parties, before each call off.
More information
Additional text
-
For further information, please contact: procurement@ofwat.gsi.gov.uk
Award information
Awarded date
27 July 2018
Contract start date
31 July 2018
Contract end date
8 August 2019
Total value of contract
£41,000
This contract was awarded to 1 supplier.
Deloitte LLP
Address
1 New Street Square
London
EC4A 3HQReference
Companies House number: OC303675
Value of contract
£41,000
Supplier is SME?
No
Supplier is VCSE?
No
Additional details
-
Awarded value is for Phase One work. Any additional call off work under Phase Two is unknown.
About the buyer
Address
Centre City Tower
7 Hill Street
Birmingham
B5 4UA
England
Share this notice
Closing: 18 July 2018
All content is available under the
