Business Bank Operations – Wholesale Solutions Back Up Servicer

Business Bank Operations – Wholesale Solutions Back Up Servicer

‘Wholesale Guarantees’ will be a risk transfer instrument which utilises securitisation techniques to the effect of making new SME lending more capital efficient and thus more attractive to banks.

Reference number: PS140006 – BIS

Deadline date:05/02/2014

This deadline is for… 12 Noon

Contract value:£0 – £160,000

Location where the contract is to be carried out: London Other area’s may be required to be covered.

Is this suitable for smaller suppliers? Yes

Is this contract suitable for a voluntary, community and social enterprise organisations? No

Name of the buying organisation: UK Shared Business Services Ltd.

 

Description of the contract

‘Wholesale Guarantees’ will be a risk transfer instrument which utilises securitisation techniques to the effect of making new SME lending more capital efficient and thus more attractive to banks. This will act as an incentive for banks to allocate more of their resources to lending to SMEs that currently struggle to obtain finance. ‘Asset Finance Funding Vehicle’ (the ‘AFFV’) will be a warehouse vehicle aiming to provide liquidity to smaller asset finance providers which currently struggle to obtain funds at a cost-effective price. In turn, these providers will use AFFV’s funds to continue supporting small businesses seeking to finance their assets. Transactions under both Wholesale Guarantees and the Asset Finance Funding Vehicle will involve newly originated portfolios only. As such, the notional value of portfolios guaranteed by the British Business Bank / acquired by the AFFV will initially be very low, and will gradually increase over time. 3) Brief – Requirements Requirement is for:Back-up Servicer The British Business Bank is seeking a Back-up Services Provider to perform the functions outlined below. The Back-up Services Provider will operate in a stand-by mode as long as the Business Bank’s counterparty originators are not in default. The Back-up Services Provider should be able to step in in the event of servicing invocation within 30 days of that event. The data will not be backed up and instead will be downloaded from a system maintained by an independent data administrator where relevant. Separately, the Back-up Services Provider may be required to provide primary asset finance receivable servicing to smaller asset finance providers participating in the AFFV

 

Classification of the contract

66000000 Financial and insurance services

 

Additional information

Contract type: Services – Unspecified

Is it a framework agreement? No

Is this contract related to a programme of funding? No

Contract will be awarded based on: Most economically advantageous tender in terms of: The criteria stated in the contract documents

Estimated length of contract: 12 Months

 

Who to contact

Contact name Gillian Worthington

Organisation name UK Shared Business Services Ltd.

Address North Star House, North Star Avenue, Swindon, Wiltshire, SN2 1FF

Telephone 01793 867934

Extension number:

Fax

How to apply

Please see attached ITT Document for Supplier instructions