Sponsor Bank for Short Term Payment Contingency
Department for Work and Pensions · London
Key facts
- Estimated value
- £220,000
- Closing date
- 07 Feb 2020
- Contract starts
- 30 Jun 2020
- Contract ends
- 30 Jun 2021
- Procedure
- Open procedure (above threshold)
- Buyer type
- Central government
Description
This procurement relates to the provision of the Short Term Payment Contingency (STPC) service, specifically to the Sponsor Bank element which is required to support the functionality of STPC. Without a Sponsor Bank in place, STPC is unable to operate. This contingency service is invoked in situations when there is a delay with release of the BACS payment file which contains benefit and pension payments threatens the Department's ability to make payment on time. The service transforms BACS payments into Faster Payments to ensure that customers receive their entitlement on their due date, reducing reputational risk and satisfying the Secretary of State's obligation.
The end to end STPC service requires two separate components, these are: ⢠A service to reformat BACS payments into Faster Payments for onward submission into the Faster Payment infrastructure. ⢠A Sponsor Bank for the settlement of funds with the Bank of England. The procurement is for the Sponsor Bank element only.
DWP makes circa. 2.2m payments per day and pays over £3bn per week.
The end to end solution must be available from 01/07/20 to avoid a break in service.
Please note: The Authority reserves the right to end the tendering process at any time and not to award a contract. Any costs incurred in the preparation and submitting of a bid and any subsequent activity connected to the tender exercise will be met by the supplier, not the Authority.
Additional information: The Invitation to Tender Pack is available on Bravosolution. Your tender response should be submitted via BravoSolution. If you are not a BravoSolution registered supplier, you must register with BravoSolution to bid - https://dwp.bravosolution.co.uk/web/login.shtml Helpline telephone number:0800 368 4850 Helpline email: [email protected]
Categories (CPV)
- 66000000 Financial and insurance services
Similar open tenders
Digital Marketplace
Location: Yorkshire and the HumberBuyer: Yorkshire Purchasing Organisation
Open tenderCloses 6 Nov, 20261 dayValue £800.00mSource Find a TenderYPO are looking for a Provider to be appointed onto a Framework Agreement for the provision of a Digital Marketplace. The Framework is designed to meet the needs of all public sector organisations which includes YPO’s internal requirements. This Framework is designed to meet the needs of YPO and Other Contracting Autho
Fair Value & Expected Credit Loss
Location: West MidlandsBuyer: Warwickshire County Council
Open tenderCloses 27 Nov, 202622 daysValue £160.00kSource Find a TenderWarwickshire County Council (the Council) is seeking a single provider to produce annual reports detailing the fair value and expected credit loss of relevant non-treasury investments. Where deemed material, these valuations will be included in the Council's Annual Statement of Accounts. The maximum contract value ove
The Provision of Work Planning Software Application [642]
Location: IrelandBuyer: Commission for Regulation of Utilities
Open tenderCloses 30 Nov, 202625 daysValue €210.00KSource TEDThe CRU prepares a Strategic Plan on a three-year cycle and develops annual Work Plans to support delivery of its priorities, objectives and outcomes. Progress is monitored quarterly through Work Plan review reports and monthly through Focus Area Reports for selected highpriority programmes, projects and organisational
Insurance brokerage and associated services III
Location: Yorkshire and the HumberBuyer: Yorkshire Purchasing Organisation
Open tenderCloses 14 Dec, 202639 daysValue £10.00mSource Find a TenderYPO as the lead authority, together with collaborating authorities ESPO and NEPO, are seeking to establish a compliant route to market for the provision of insurance brokerage and associated services, for use across the whole public sector. YPO is managing this procurement process in accordance with the Procurement Act
York College - Provision of EV Cars Salary Sacrifice Scheme
Location: Yorkshire and the HumberBuyer: York College
Open tenderCloses 27 Nov, 202622 daysValue £4.00mSource Find a TenderYork College wishes to appoint a single supplier to deliver a fully managed Electric Vehicle (EV) Salary Sacrifice Scheme for eligible employees. The College's objectives are to: • Support net zero and sustainability commitments. • Enhance employee benefits, wellbeing, recruitment and retention. • Provide employees wit
LEGO299 End-to-End Reporting, Budgeting, Forecasting and Financial Reporting Solution
Location: West MidlandsBuyer: The Office for Legal Complaints
Open tenderCloses 30 Nov, 202625 daysValue £100.00kSource Find a TenderA fit-for-purpose budgeting, forecasting and financial reporting solution that automates LeO's existing Finance processes, integrates with relevant source systems and can be operated by Finance following implementation.