Published date: 26 October 2022
Last edited date: 27 October 2022
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
Legal advisory and representation services - 79110000
Documentation services - 79131000
Certification services - 79132000
Legal advisory and information services - 79140000
Location of contract
Any region
Value of contract
£75,000
Procurement reference
tender_333387/1117858
Published date
26 October 2022
Closing date
4 November 2022
Closing time
11am
Contract start date
14 November 2022
Contract end date
31 March 2023
Contract type
Service contract
Procedure type
Open procedure (below threshold)
Any interested supplier may submit a tender in response to an opportunity notice.
This procedure can be used for procurements below the relevant contract value threshold.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
The final date and time for the submission of bids is Friday 4th November 2022 at 11:00
DO NOT apply directly to the buyer.
All tender information MUST be submitted through the Jaggaer eSourcing Portal.
Brief Description of Requirement
Innovate UK Loans Limited (IUKL) is a special purpose vehicle established in February 2018 to deliver the Innovation Loans programme, a subsidised finance product aimed at single SMEs undertaking later stage research and development activities with a clear route to commercial success.
IUKL is a wholly owned subsidiary or UK Research and Innovation, a non-departmental public body sponsored by the Department for Business, Energy and Industrial Strategy (BEIS). Functionally, IUKL sits within Innovate UK, a council of UKRI, making use of a mix of IUK's core systems and processes and its own bespoke solutions.
From a regulatory perspective, IUKL has relied to date on a business lending exemption and the outsourcing of its lending administration (making and collecting payments, interest calculations, KYC and AML etc.) to a third party provider, regulated by the FCA.
However, as Innovation Loans moves from pilot to BAU, it is exploring its evolving business model and seeking professional advice and support around its regulatory status and related compliance functions. This procurement seeks a provider to supply that advice and support.
Please ensure you review all attached information to ensure a full understanding of this requirement. All attachments can be found with the Supplier Attachments tab within the Jaggaer eSourcing Portal.
This contract will be awarded based on the evaluation criteria as set out in the ITQ document.
How to Apply
UK Shared Business Services Ltd (UK SBS) will be using the Jaggaer eSourcing Portal for this procurement.
To register on the Jaggaer eSourcing portal please use the link https://beisgroup.ukp.app.jaggaer.com/ and follow the instructions to register as a supplier.
If you are already registered on the Jaggaer eSourcing Portal and wish to participate in this procurement, please use the link: https://beisgroup.ukp.app.jaggaer.com/.
Once you are logged into the system you will be able to locate the Procurement you wish to leave a bid on by clicking the ITTs Open to All Suppliers and searching for the reference number PS22311
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Closing: 4 November 2022, 11am
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