Metropolitan Police Banking Services Tender
MOPAC/MPS will require two main bank accounts: Fund Main Supply Account and Fund Drawing Account.
Metropolitan Police Service
- Banking and investment services – 66100000
Location of contract
Value of contract
Coupa event 165 / Publication reference: 2021/S 000-010423
12 May 2021
11 June 2021
Contract start date
1 March 2022
Contract end date
29 February 2028
Open procedure (OJEU)
Contract is suitable for SMEs?
Contract is suitable for VCSEs?
Overview and Scope of the Requirement
The Authority as the contracting authority is tendering for the supply of Services to the MPS. The MPS/Authority is seeking through this tendering process to award a contract with a suitably capable Bidder to provide these services for an initial term of 60 months and a unilateral option of the MPS/Authority to extend for further periods of 24 months up to a maximum of 84 months for the total contract period.
MOPAC/MPS will require two main bank accounts:
Fund Main Supply Account
Fund Drawing Account
In addition to the main accounts approximately 80 bank accounts will be required by divisions and operational departments. Most of these accounts are operated on an imprest basis and are funded periodically.
Bank accounts are also maintained for holding significant balances on behalf of third parties (Requirements Specification provides more detail).
Bidders must be capable of opening/operating any reasonable number of bank accounts on behalf of MOPAC/MPS and be capable of closing accounts/opening new bank accounts within 48 hours of receiving the appropriate instruction.
Accounts must be open for the first day of the contract (currently 1st March 2022) and all necessary ancillary functions (ability to make deposits, withdrawals, intra account transfers and enquiries be in place).
BANK ACCOUNT STRUCTURE
The majority of bank accounts are currently pooled within a single group structure. A number of bank accounts are outside of the pooling arrangements as they hold non MOPAC/MPS balances (e.g. third party bank accounts).
Bidders must be capable of pooling any number of bank accounts into more than one pooling group if required and be capable of establishing automatic transfers/sweeps between nominated bank accounts.
THIRD PARTY FUNDS
MOPAC/MPS manages significant balances that have been confiscated under the Proceeds of Crime Act (POCA), held under other legislation deposited in the De-tained Monies Account (DMA), held under other legislation deposited in the Account Freezing Orders (AFO) account, held under other legislation deposited in the Anti-Terrorism Crime and Security Act (ATCSA) and other third party monies processed by police through the Divisional Account. The current bank provides a virtual ac-count service that facilitates the management of these funds.
To tender for this opportunity please do this via Coupa (ref 165 Banking Services): https://supplier.coupahost.com/quotes/public_events?customer=metpolice
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How to apply
Follow the instructions given in the description or the more information section.