Legal Advice Tender

Legal Advice Tender

Legal Advice to BIS on a potential monetisation of the pre Browne income contingent repayment student loans portfolio.

United Kingdom-Swindon: Legal services

2013/S 147-255927

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

I.1)Name, addresses and contact point(s)

Uk SBS Ltd
North Star House
For the attention of: Hayley Davies
SN2 1FF Swindon
UNITED KINGDOM
Telephone: +44 1793867775
E-mail: professionalservices@ssc.rcuk.ac.uk

Internet address(es):

General address of the contracting authority: www.ssc.rcuk.ac.uk

Address of the buyer profile: www.ssc.rcuk.ac.uk

Further information can be obtained from: The above mentioned contact point(s)

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: The above mentioned contact point(s)

Tenders or requests to participate must be sent to: The above mentioned contact point(s)

I.2)Type of the contracting authority

Body governed by public law
I.3)Main activity

Other: legal advice
I.4)Contract award on behalf of other contracting authorities

The contracting authority is purchasing on behalf of other contracting authorities: yes

UK SBS Ltd
North Star Avenue
Sn2 1FF Swindon
UNITED KINGDOM

Section II: Object of the contract

II.1)Description
II.1.1)Title attributed to the contract by the contracting authority:

Legal Advice to BIS on a potential monetisation of the pre Browne income contingent repayment student loans portfolio.
II.1.2)Type of contract and location of works, place of delivery or of performance

Services
Service category No 21: Legal services
NUTS code UKI

II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)

The notice involves a public contract
II.1.4)Information on framework agreement
II.1.5)Short description of the contract or purchase(s)

The Authority, on behalf of the Client, The Department of Business Innovation and Skills (“BIS”) is inviting proposals for the provision of Legal advice to BIS on a proposed monetisation (the “Proposed Monetisation”) of the Student Loan Company’s (“SLC”) “Income Contingent Repayment” Student loans portfolio. At the end of the 2012/13 financial year, the face value of the Pre-Browne ICR Loan Portfolio was approximately GBP 45 billion. Following write-offs and other deductions, the approximate carrying value of the Pre-Browne ICR Loan Portfolio in the BIS accounts is approximately GBP 30 billion.The precise structure of the Proposed Monetisation is still being considered. However, it is envisaged that the Proposed Monetisation will be effected by way of the loan sale to the private sector or a securitisation process.
The successful bidder will be expected to demonstrate proven capacity to handle a complex, cross-Government assignment of this kind and show strength in-depth in the following areas: experience and knowledge of working on a transaction of comparable novelty, complexity and importance
(experience of bringing a new class of asset to market would be particularly useful),ability to lead all of the legal aspects of the transaction from preparation to completion ,a strong cross-practice team with top level capabilities in general corporate/M&A, DCM and securitisation, with proven capabilities in the UK, EU and US (Reg S and S. 144A), experience of working with HMG and in managing projects involving multiple delivery partners; and ability to lead the legal aspects of a dual-track process to progress both the sale and securitisation options.
II.1.6)Common procurement vocabulary (CPV)

79100000

II.1.7)Information about Government Procurement Agreement (GPA)

The contract is covered by the Government Procurement Agreement (GPA): yes
II.1.8)Lots

This contract is divided into lots: no
II.1.9)Information about variants

Variants will be accepted: no
II.2)Quantity or scope of the contract
II.2.1)Total quantity or scope:

The Authority, on behalf of the Client, The Department of Business Innovation and Skills (“BIS”) is inviting proposals for the provision of Legal advice to BIS on a proposed monetisation (the “ProposedMonetisation”) of the Student Loan Company’s (“SLC”) “Income Contingent Repayment” Student loans portfolio. At the end of the 2012/13 financial year, the face value of the Pre-Browne ICR Loan Portfolio was approximately GBP 45 billion. Following write-offs and other deductions, the approximate carrying value of the Pre-Browne ICR Loan Portfolio in the BIS accounts is approximately GBP 30 billion.The precise structure of the Proposed Monetisation is still being considered. However, it is envisaged that the Proposed Monetisation will be effected by way of the loan sale to the private sector or a securitisation process.The successful bidder will be expected to demonstrate proven capacity to handle a complex, cross-Government assignment of this kind and show strength in-depth in the following areas: experience and knowledge of working on a transaction of comparable novelty, complexity and importance (experience of bringing a new class of asset to market would be particularly useful),ability to lead all of the legal aspects of the transaction from preparation to completion ,a strong cross-practice team with top level capabilities in general corporate/M&A, DCM and securitisation, with proven capabilities in the UK, EU and US (Reg S and S. 144A), experience of working with HMG and in managing projects involving multiple delivery partners; and ability to lead the legal aspects of a dual-track process to progress both the sale and securitisation options.
Estimated value excluding VAT:
Range: between 500 000 and 100 000 GBP
II.2.2)Information about options

Options: no
II.2.3)Information about renewals

This contract is subject to renewal: no
II.3)Duration of the contract or time limit for completion

Duration in months: 12 (from the award of the contract)

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract
III.1.1)Deposits and guarantees required:

See Invitation to Tender documents.
III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:

The bid is to be priced in stering. The payment schedule will be notified in the contract documents.
III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:

joint and severable liability required
III.1.4)Other particular conditions

The performance of the contract is subject to particular conditions: yes
Description of particular conditions: The government has set out the need for greater transparency across its operations to enable the public to hold public bodies and politicians to account. This includes commitments relating to public expenditure, intended to help achieve better value for money.
As part of the transparency agenda, government has made the following commitments with regard to procurement and contracting:
All new central government ICT contracts over the valye of GBP 10 000 to be published on a single website from September 2010, with this information to be made available to the public free of charge.
New items of central government spending over GBP 25 000 to be published online from November 2010. All new central government contracts to be published in full from January 2011.
Suppliers and those organisations looking to bid for public sector contracts should be aware that if they are awarded a new government contract, the resulting contract between the supplier and the government will be published. In some circumstances, limited redactions will be made to some contracts before they are published in order to comply with existing law and for the protection of national security. Service Providers must clearly demonstrate recent successful experience in similar projects and environments. Potential suppliers will be excluded if one of the following applies: the supplier is in a state of bankruptcy, insolvency, compulsory winding up, administration, receivership, composition with creditors or any analogous state, or subject to relevant proceedings, has been convicted of a criminal offence related to the business of professional misconduct, has fulfilled obligations relating to the payment of taxes, is guilty of serious misrepresentation in supplying 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 the requirements are met: To be detailed in the request for Invitation to Tender. Participating suppliers are also expected to have in place necessary insurances. Expressions of interest must include the return of a satisfactory RFI which will be supplied. This is a voluntary notice and in carrying out this competitive process the UK SBS Ltd is not obliged to follow the detailed rules and procedures set out in directive 2004/18/EC. This notice is to alert interested suppliers of the start of a competitive process and does not mark the start of a regulated procedure.
III.2.2)Economic and financial ability

Information and formalities necessary for evaluating if the requirements are met: Please see tender documentation.
III.2.3)Technical capacity

Information and formalities necessary for evaluating if the requirements are met:
See tender documents.
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts
III.3.1)Information about a particular profession

Execution of the service is reserved to a particular profession: yes
Reference to the relevant law, regulation or administrative provision: Legal services.
III.3.2)Staff responsible for the execution of the service

Legal persons should indicate the names and professional qualifications of the staff responsible for the execution of the service: no

Section IV: Procedure

IV.1)Type of procedure
IV.1.1)Type of procedure

Open
IV.1.2)Limitations on the number of operators who will be invited to tender or to participate
IV.1.3)Reduction of the number of operators during the negotiation or dialogue

Recourse to staged procedure to gradually reduce the number of solutions to be discussed or tenders to be negotiated no
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.2.2)Information about electronic auction

An electronic auction will be used: no
IV.3)Administrative information
IV.3.1)File reference number attributed by the contracting authority:

PS130142
IV.3.2)Previous publication(s) concerning the same contract

no
IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document

Time limit for receipt of requests for documents or for accessing documents: 23.8.2013 – 12:00
Payable documents: no
IV.3.4)Time limit for receipt of tenders or requests to participate

26.8.2013 – 12:00
IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates

26.7.2013
IV.3.6)Language(s) in which tenders or requests to participate may be drawn up

Any EU official language
Other: English
IV.3.7)Minimum time frame during which the tenderer must maintain the tender
IV.3.8)Conditions for opening of tenders

Persons authorised to be present at the opening of tenders: no

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no
VI.2)Information about European Union funds

The contract is related to a project and/or programme financed by European Union funds: no
VI.3)Additional information
VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures
VI.4.2)Lodging of appeals

Precise information on deadline(s) for lodging appeals: The Contracting Authority will notify suppliers uncessful at invitation to tender stage why they were unsuccessful. Such additional information should be requested from the address in section I.1. The Public Contracts (Amendment) Regulations 2009 also clarift that a letter received from an unsuccessful bidder is not in itself enough to extend the legal standstill period and prevent the authority signing the contract. To do so a bidder must actually go to court, issue proceedings, and serve them. If an appeal regarding the award of the contract has not been successfully resolved, the Public Contracts Regulations 2006 (SI 2006 No 5) as amended by the Public Contracts (Amendment) Regulations 2009, provide for aggrieved parties who have been harmed or are at risk of harm by breach of the rules to take action in the high court (England, Wales and Northern Ireland). The new Limitation period will apply specifically where a bidder brings an “ineffectiveness” claim. There is a six month long stop period that will be shortened to 30 days where the authority has published an award notice, or where they have notified the losing bidders of their exclusion and given proper reasons.
VI.4.3)Service from which information about the lodging of appeals may be obtained

UNITED KINGDOM

VI.5)Date of dispatch of this notice:26.7.2013