Published date: 1 December 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.


Closing: 10 January 2024, 12pm

Contract summary

Industry

  • Legal services - 79100000

Location of contract

Any region

Value of contract

£1,000,000 to £5,000,000

Procurement reference

BIP807950679

Published date

1 December 2023

Closing date

10 January 2024

Closing time

12pm

Contract start date

1 April 2024

Contract end date

31 March 2028

Contract type

Service contract

Procedure type

Open procedure

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

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

1.Overview
In line with the Prior Information Notice ("PIN") as issued on 8th September 2023, British Business Bank ("BBB") are undertaking an open procurement exercise by which to create a framework (the "Framework") for the appointment of a BBB Structured Finance Legal Services Panel for provision of legal advice services in relation to structured finance transactions.
2.Introduction
BBB is an economic development bank which is 100% owned and funded by the UK Government. Established on 1 November 2014, the BBB's mission is to drive sustainable growth and prosperity across the UK, and to enable the transition to a net zero economy, by supporting access to finance for smaller businesses. BBB brings together expertise and funding to support economic growth by improving the UK's business finance markets. BBB invests or administers Government funding alongside or through private sector partners and uses targeted guarantees and funding options to encourage more private sector lending and investment.
British Business Financial Services Ltd ("BBFSL") administers certain programmes on behalf of HM Government. British Business Investments Limited ("BBI") is part of the BBB's commercial arm. BBFSL and BBI are both wholly owned subsidiaries of BBB.
In support of the delivery of its programmes, BBB are issuing this framework procurement for the appointment of a BBB Structured Finance Legal Services Panel for provision of legal advice services in relation to structured finance transactions pursuant to programmes administered by BBB, BBFSL, BBI or their respective subsidiaries.
3.Nature of Services
(a)The procurement exercise will welcome Suppliers with the requisite skills to provide legal services relevant to the Programmes, including but not limited to:
(i)advice relating to finance, debt capital markets, guarantees, trusts, bank lending, structured finance, derivatives and/or securitisation as required;
(ii)corporate and contract law advice;
(iii)financial and non-financial regulatory advice;
(iv)consumer credit and real estate finance advice;
(v)where applicable, foreign law advice or 'issue spotting' (noting that any contracts to be entered into by the Buyers will be governed by English law);
(vi)tax law advice;
(vii)general transaction management; and
(viii)advice relating to disputes, litigation, investigations and other contentious matters.
4.Procurement Process
This procurement is being conducted via the Delta e-tendering platform, for which registration is free at the link contained - Enter Details | Delta (delta-esourcing.com), should it be required the access code is 34XH2S5K93.
The Framework will be in place for a period of 4 years and will be non-exclusive and non-committal. As such, guaranteed volumes of work cannot be provided and the values outlined are anticipated only.
The deadline for submission of clarification questions is 11th December 2023, with submission of bids to be received by 10th January 2024 at midday.

More information

Links

Additional text

The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement.

About the buyer

Contact name

Leila Bradshaw

Address

Steel City House
West Street
Sheffield
S1 2GQ
UK

Telephone

0

Email

procurement@british-business-bank.co.uk