Digital Payment Solution Framework

Tender description

Hyde’s intention in respect of this invitation to tender is to procure a digital payment solution to meet the company’s listed requirements. Hyde’s key aims, objectives and full list of requirements are covered in the ITT document. Hyde intends to enter into a Framework Agreement by going through a full process that will follow UK Procurement legislation under which it intends to issue a call-off contract with the highest ranked Bidder for a period of five (5) years with an option to extend for a further two (2) years. Other successful Bidders may also be issued a contract. Bidders should note that there may be multiple successful parties awarded a place on the framework but, as with any framework, this does not guarantee a call-off contract. The Framework Agreement will last for a period of four (4) years. Lot 1: Hyde’s intention in respect of this invitation to tender is to procure a digital payment solution to meet the company’s listed requirements. Hyde’s key aims, objectives and full list of requirements are covered in the ITT document. Hyde intends to enter into a Framework Agreement by going through a full process that will follow UK Procurement legislation under which it intends to issue a call-off contract with the highest ranked Bidder for a period of five (5) years with an option to extend for a further two (2) years. Other successful Bidders may also be issued a contract. Bidders should note that there may be multiple successful parties awarded a place on the framework but, as with any framework, this does not guarantee a call-off contract. The Framework Agreement will last for a period of four (4) years. More details available in the ITT document. Additional information: Important Note: The Framework Value of £20,000,000 does not relate to the contract value. The Framework Value is a nominal amount to provide sufficient scope for framework usage by other public sector bodies during the 4 year framework term. The Contract Value is c.£350kp/a or c.£2.45M over the proposed 5+2 year contract term.