Published date: 6 January 2020
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
Financial and insurance services - 66000000
Location of contract
Any region
Value of contract
£220,000
Procurement reference
Project _22501 / itt_21444
Published date
6 January 2020
Closing date
7 February 2020
Contract start date
1 July 2020
Contract end date
30 June 2021
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?
Yes
Contract is suitable for VCSEs?
No
Description
This procurement relates to the provision of the Short Term Payment Contingency (STPC) service, specifically to the Sponsor Bank element which is required to support the functionality of STPC. Without a Sponsor Bank in place, STPC is unable to operate.
This contingency service is invoked in situations when there is a delay with release of the BACS payment file which contains benefit and pension payments threatens the Department's ability to make payment on time. The service transforms BACS payments into Faster Payments to ensure that customers receive their entitlement on their due date, reducing reputational risk and satisfying the Secretary of State's obligation.
The end to end STPC service requires two separate components, these are:
• A service to reformat BACS payments into Faster Payments for onward submission into the Faster Payment infrastructure.
• A Sponsor Bank for the settlement of funds with the Bank of England. The procurement is for the Sponsor Bank element only.
DWP makes circa. 2.2m payments per day and pays over £3bn per week.
The end to end solution must be available from 01/07/20 to avoid a break in service.
Please note: The Authority reserves the right to end the tendering process at any time and not to award a contract. Any costs incurred in the preparation and submitting of a bid and any subsequent activity connected to the tender exercise will be met by the supplier, not the Authority.
More information
Additional text
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The Invitation to Tender Pack is available on Bravosolution. Your tender response should be submitted via BravoSolution. If you are not a BravoSolution registered supplier, you must register with BravoSolution to bid - https://dwp.bravosolution.co.uk/web/login.shtml
Helpline telephone number:0800 368 4850
Helpline email: help@bravosolution.co.uk
About the buyer
Contact name
Louise Rice
Address
Peel Park
Brunel Way
Blackpool
FY4 5ES
England
Telephone
01253 611633
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Closing: 7 February 2020
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