Banking and investment services

Tender description

Contract for the provision of banking services and associated services for Cambridgeshire County Council. This contract is for 5 years, with an option to extend for 2 years, followed by a further 2 years followed by a final 1 year (making a maximum contract length of 10 years in total). The contract estimated start date will be 1.3.2020. The current estimated spend for such is 50 000 GBP per annum. It is difficult to predict the exact value of this contract as the authorities’ requirements are likely to vary over the contract term, but it is estimated that the total value of banking fees and charges will not be less than 400 000 GBP or greater than 800 000 GBP. Potential providers should note that this figure is an estimate and shall fluctuate depending on the numbers, types of transactions and any borrowing that may occur over the life of the agreement. There will be no guarantee of work or volume of work to be given under this contract. Contract for the provision of banking and associated services for Cambridgeshire County Council. The authority requires a comprehensive money transmission banking service involving maintenance of Council, pension fund and school bank accounts, handling of paper, BACS and CHAPS clearing, cash processing and other activities associated with local authority banking business. The authority will require an internet banking service for balance/transaction reporting and payment initiation. The authority expects that the way the service is provided during the life of the contract may change as the market and the authority change its working practices and more digital methods/processes are adopted for receipts and payments. The authority is not dividing this contract into lots as they wish to have one banking provider in order to provide economies of scale and ensure consistency within internal processes and contract management of the agreement where this is relevant. The deadline for potential provider’s invitation to tender clarification questions is 3.9.2019.