Decision details

To establish and approve the criteria by which the banking tender will be assessed. The anticipated period of the contract is from 1 April 2016 to 31 March 2021.

The Cabinet considered the report of the Head of Corporate Finance and ICT which provided details of the proposed procurement arrangements for the provision of banking services from 1 April 2016 to 31 March 2021.

Decision Made:

That:

(1)       the Head of Corporate Finance and ICT be authorised to conduct a formal procurement exercise for the provision of banking services for the period 1 April 2016 to 31 March 2021;

(2)       the basis of the evaluation of tenders as set out in the report be approved; and

(3)       the Head of Corporate Finance and ICT be authorised to accept the Highest Scoring Tender in accordance with the approved basis of evaluation and to report on the outcome to the Cabinet Member – Regulatory, Compliance and Corporate Services.

Reasons for Decision:

The Council’s Contract Procedure Rules require that where expenditure is above £172,514 the process must comply with EU Public Procurement Rules. The banking tender is expected to exceed the EU limit.

Alternative Options Considered and Rejected:

None.