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UK-London: treasury services

Request For Proposals

General Information
Country:   United Kingdom
City/Locality:   LONDON
Notice/Contract Number:   eu:296553-2009
Publication Date:   Nov 19, 2009
Deadline:   Nov 23, 2009
Buyer:   FINANCIAL SERVICES AUTHORITY
Original Language:   English

Contact Information
Address:   FINANCIAL SERVICES AUTHORITY
LONDON, LONDON
United Kingdom
Email:   Click here

Goods, Works and Services

 

Summary

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Notice Type: 2220 - Contract notice
Regulation of Procurement: European Communities
EU Official Journal Publication: 206/2009, #296553-2009
Contract Nature: Service contract
Procedure Type: Restricted procedure
Type of Bid Required: Global tender
Awarding Criteria: The most economic tender


Update: Nov 19, 2009


Notice Type: 8098 - Additional information
Regulation of Procurement: European Communities
EU Official Journal Publication: 223/2009, #319903-2009
Referenced Document Number: 296553-2009
Contract Nature: Service contract
Procedure Type: Restricted procedure
Type of Bid Required: Global tender
Awarding Criteria: The most economic tender

Original Text

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CONTRACT NOTICE
Services
SECTION I: CONTRACTING AUTHORITY
I.1) NAME, ADDRESSES AND CONTACT POINT(S): Financial Services Authority,
25 The North Colonnade, Attn: Chris Farthing, UK-London E14 5HS. Tel. +44
2070661000. E-mail: chris.farthing@fsa.gov.uk.
Further information can be obtained at: As in above-mentioned contact
point(s).
Specifications and additional documents (including documents for
competitive dialogue and a dynamic purchasing system) can be obtained at:
As in above-mentioned contact point(s).
Tenders or requests to participate must be sent to: As in above-mentioned
contact point(s).
I.2) TYPE OF THE CONTRACTING AUTHORITY AND MAIN ACTIVITY OR ACTIVITIES:
National or federal agency/office.
Economic and financial affairs.
The contracting authority is purchasing on behalf of other contracting
authorities: no.
SECTION II: OBJECT OF THE CONTRACT
II.1) DESCRIPTION
II.1.1) Title attributed to the contract by the contracting authority:
Agency Treasury Service & Revolving Credit Facility.
II.1.2) Type of contract and location of works, place of delivery or of
performance: Services.
Service category: No 6.
Main place of performance: Canary Wharf, London.
NUTS code: UKI.
II.1.3) The notice involves: A public contract.
II.1.5) Short description of the contract or purchase(s): During 2008/09
the FSA raised £324.4m in fees directly from regulated organisations. In
2009/10 the FSA projects that it will collect around 395 600 000 GBP in
fees.
In addition, we act as a collecting agent for the Financial Services
Compensation Scheme (FSCS), Financial Ombudsman Service (FOS) and the
Financial Reporting Council (FRC) during 2008/09 we collected a total of
197 000 000 GBP fees on behalf of these organisations.
Funds collected on behalf of FSCS, FOS and FRC are paid over to FSCS on a
weekly basis and to FOS & FRC according to the annually agreed payment
schedule and in accordance with the formal agency agreements.
In order to manage its balance sheet risk, the FSA may also, on occasion,
need to have access to borrowing facilities, to ensure that its long-term
liabilities are most appropriately matched to the assets that will fund
them. The FSA would want to retain the flexibility of borrowing at a
higher level in order to meet its minimum working capital requirements,
therefore the FSA requires that an amount equivalent to six weeks
operating costs be held as a minimum in liquid funds, approximately 52 000
000 GBP.
In order to fund the future borrowing requirements the FSA operates two
Revolving Credit Facilities (RCFs).
Funds in excess of our immediate cash-flow requirements are invested in
sterling cash funds or term deposits with high-quality counter parties,
the maturity of those investments typically varying from overnight to a
maximum of around 6 months.
In a typical recent financial year, the average funds under management
were in excess of 50 000 000 GBP, with a maximum of over 200 000 000 GBP
and drawing down on our revolving credit facility around March.
One of the FSA's key aims is improving our business capability and
effectiveness. In order to contribute to this aim the organisation must
make best use of its resources including its cash resource, and ensure
maximum returns subject to acceptable risks.
Currently, the FSA's day to day cash investment position is managed on an
agency basis. The agent provides a managed service to the FSA within the
scope of the FSA Treasury Management policy.
The Treasury Management policy ensures that FSA's liquidity is maintained
at an appropriate level and that working capital requirements are met and
financed from available cash reserves.
II.1.6) Common procurement vocabulary (CPV): 66600000.
II.1.7) Contract covered by the Government Procurement Agreement (GPA):
No.
II.1.8) Division into lots: No.
II.1.9) Variants will be accepted: Yes.
II.2) QUANTITY OR SCOPE OF THE CONTRACT
II.2.1) Total quantity or scope: The FSA are asking interested parties to
tender for both of the following requirements detailed below. Where you
are unable to provide a response to both requirements, we may consider
responses to provide one of the two services required.
(1) To provide flexible and efficient access to borrowing facilities of up
to 100 000 000 GBP in order to manage the FSA's balance sheet risk, which
will operate in conjunction with our existing facility. The required term
of the facility will be a period of up to 36 months, with an option to
extend for a further 12 months.
(2) To provide, within the scope of the FSA's Treasury Policy, a managed
cash treasury service, this comprises:
— establish the daily cash position and invest funds using approved cash
instruments to meet the FSA working capital requirements within agreed
maturity profiles;
— select counterparties within a credit limit threshold, and manage the
investment concentration risk of funds placed with each counter-party; and
— produce standard daily, weekly and monthly reports to ensure that the
actual investment performance can be measured against an agreed benchmark,
the credit limits and concentration risk with each counter-party are
regularly monitored and managed; the funds invested and interest earned
are correctly reflected and accounted for in the FSA's books on a timely
basis; and that trades dealt are confirmed on a daily basis.
The required term of the Service will be a period of up to 36 months, with
an option to extend for a further 12 months.
II.3) DURATION OF THE CONTRACT OR TIME-LIMIT FOR COMPLETION: Duration in
months: 48 (from the award of the contract).
SECTION III: LEGAL, ECONOMIC, FINANCIAL AND TECHNICAL INFORMATION
III.2) CONDITIONS FOR PARTICIPATION
III.2.1) Personal situation of economic operators, including requirements
relating to enrolment on professional or trade registers: Information and
formalities necessary for evaluating if requirements are met: Suppliers
Instructions How to Express Interest in this Tender:
1. Register your company on the eSourcing portal (this is only required
once).
— Browse to the eSourcing Portal: https://fsa.bravosolution.co.uk and
click the link to register.
— Accept the terms and conditions and click “continue”.
— Enter your correct business and user details.
— Note the username you chose and click “Save” when complete.
— You will shortly receive an email with your unique password (please keep
this secure).
2. Express an Interest in the tender.
— Login to the portal with the username/password.
— Click the “PQQs/ITTs Open To All Suppliers” link. (These are
Pre-Qualification Questionnaires or Invitations to Tender open to any
registered supplier).
— Click on the relevant PQQ/ITT to access the content.
— Click the “Express Interest” button in the “Actions” box on the
left-hand side of the page.
— This will move the PQQ/ITT into your “My PQQs/My ITTs” page. (This is a
secure area reserved for your projects only).
— You can now access any attachments by clicking the “Settings and Buyer
Attachments” in the “Actions” box.
3. Responding to the tender.
— You can now choose to “Reply” or “Reject” (please give a reason if
rejecting).
— You can now use the ‘Messages’ function to communicate with the buyer
and seek any clarification.
— Note the deadline for completion, then follow the onscreen instructions
to complete the PQQ/ITT.
— There may be a mixture of online & offline actions for you to perform
(there is detailed online help available).
You must then publish your reply using the publish button in the “Actions”
box on the left-hand side of the page. If you require any further
assistance please consult the online help, or contact the eTendering help
desk.
SECTION IV: PROCEDURE
IV.1) TYPE OF PROCEDURE
IV.1.1) Type of procedure: Restricted.
IV.1.2) Limitations on the number of operators who will be invited to
tender or to participate: Envisaged minimum number: 5.
IV.2) AWARD CRITERIA
IV.2.1) Award criteria: The most economically advantageous tender in
terms of the criteria stated in the specifications, in the invitation to
tender or to negotiate or in the descriptive document.
IV.3) ADMINISTRATIVE INFORMATION
IV.3.1) File reference number attributed by the contracting authority:
TEN 09-221.
IV.3.2) Previous publication(s) concerning the same contract: No.
IV.3.4) Time-limit for receipt of tenders or requests to participate:
23.11.2009 - 12:00.
IV.3.5) Date of dispatch of invitations to tender or to participate to
selected candidates: 2.12.2009.
IV.3.6) Language(s) in which tenders or requests to participate may be
drawn up: English.
IV.3.7) Minimum time frame during which the tenderer must maintain the
tender: Duration in days: 90 (from the date stated for receipt of tender).
SECTION VI: COMPLEMENTARY INFORMATION
VI.1) THIS IS A RECURRENT PROCUREMENT: Yes.
Estimated timing for further notices to be published: The earliest time
for the publication of further notices is 2012.
VI.3) ADDITIONAL INFORMATION: The Contracting Authority intends to use an
eTendering system in this procurement exercise and reserves the right to
use a reverse auction.
VI.5) DATE OF DISPATCH OF THIS NOTICE: 21.10.2009.


Financial Services Authority, 25 The North Colonnade, attn: Chris
Farthing, UK-E14 5HS London. Tel. +44 2070661000. E-mail:
chris.farthing@fsa.gov.uk.
(Supplement to the Official Journal of the European Union, 24.10.2009,
2009/S 206-296553)
RE: CPV: 66600000.
Treasury services.
Other additional information
The services are set up primarily for use by the Financial Services
Authority.
It is envisaged that the new body which may be created following the
proposals in the government's Reforming Financial Markets White Paper
which requires the FSA to establish an independent consumer education and
information authority, may also require use of these services.
Please note that this notice is for your information only.
We try our best to have the most accurate and up-to-date information available on our web site, but we cannot guarantee that all of the information provided is error-free.
If you have any suggestions for updates/corrections for this notice, please let us know.