Published date: 19 June 2023
Last edited date: 19 June 2023
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 services - 79100000
Location of contract
England
Value of contract
£3,600,000
Procurement reference
PRJ/1000151
Published date
19 June 2023
Closing date
14 July 2023
Closing time
12pm
Contract start date
15 January 2024
Contract end date
14 January 2027
Contract type
Service contract
Procedure type
Restricted procedure (above threshold)
A two-stage procedure, where the first stage is used to select suppliers, who are then invited to bid in the second stage.
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
The Bank of England (the "Bank") lends through its market operations against eligible collateral delivered by firms. This takes the form of either loan or securities collateral. To ensure that the collateral is eligible for the Bank's operations, legal due diligence is required, particularly when it comes to loan collateral. The Bank is therefore seeking 3 law firms to be part of a framework and to conduct legal reviews relating to collateral on a case-by-case basis. The overall contract value includes the costs of all reviews, which will ultimately be recharged to the firm that is seeking to position the collateral with the Bank.
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://supplierlive.proactisp2p.com/Account/Login
About the buyer
Contact name
Corporate Contracts
Address
Threadneedle Street
LONDON
EC2R8AH
England
Telephone
02034618396
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Closing: 14 July 2023, 12pm
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