Foreign economic-aid-related services

Tender description

DFID seek to engage a supplier who will provide secure banking and fund distribution services to DFID and its partners. The supplier will be required to receive Third Party Money (TPM) funds into named project accounts and when required disburse those funds. Please note the estimated value is 90 000 GBP over 3 years with an estimated fund disbursement value of 200 000 000 GBP from various donors which will require to be managed by the supplier. The supplier will provide secure banking and fund distribution services to DFID and its partners. The primary funding being held in the project accounts will be non DFID funds however there will be a requirement on occasion to receive and disburse DFID funds on a “just in time” basis. The currency of accounts will mostly be in the major currencies of GBP, US$ and EURO however the provider should be positioned to manage various other currencies. The supplier will have to monitor and report activities in line with DFID requirements, which will include separate reporting for each donor’s funds, verifications in relation to the opening and closing of accounts, disbursements of funds and reports in relation to all aspects of account management. The value of services is 72 000 GBP over 3 years with an estimated fund disbursement value of 200 000 000 GBP from various donors which will require to be managed by the supplier.