Financial and insurance services

Tender description

The London Borough of Croydon (the Council) is seeking to commission a specialist delivery partner (outsourcing firm) to continue to administer the delivery of its Croydon Enterprise Loan Fund (CELF) initiative which has been in operation since 2007. The initial period of 3.5 years from February 2017 until July 2020, with a max. contract value of 546 875 GBP. There is provision for a further extension of up to 3.5 years (1.5+1+1). It is also proposed to enhance the service by introducing additional tailored financial services that are sector and/or place specific, with bespoke offerings for fast growing businesses, particularly in sectors and/or geographical areas such as district centres. The initial term of the contract will be 3.5 years although the council has the option at their absolute discretion to extend the term for 3 further periods of 1.5 years, 1 year, 1 year, totalling 7 years. The scope of works is anticipated to be in the region of 1 100 000 GBP over 7 years. However, there is no guarantee of any value of orders over the course of the Contract Term. The first full 3.5 years value is expected to be in the region of 546 845 GBP.