Issue - items at meetings - Procurement of Corporate Banking Services

Report of the Executive Director for Finance & Resources (copy attached).

(1)               That the procurement of the corporate banking services contract, following the timeline and evaluation criteria set out in the report with a contract term of 5 years from 1 April 2015 to 31 March 2020 with an option to extend for a further 2 year period to 2022 be approved; and

(2)               That the Executive Director Finance & Resources be granted delegated authority to:

(i)                 award the contract for 5 years following the recommendations of the evaluation panel and the results of the tendering process; and

(ii)               extend the contract for 2 years subject to satisfactory performance of the provider in respect of the initial 5 year period.

126.1    The Executive Director for Finance & Resources introduced the report, which sought approval for the procurement of a contract for the provision of corporate banking services for the Council following the withdrawal of the current provider from the local authority sector.  She stated that discussions with other local authorities had been held in regard to the possibility of shared services and procurement expertise and it was felt that the market was competitive.  She also noted that the contract specification had been included with the report so that Members were aware of the complex requirements of a local authority which would need to be met by the new provider.

126.2    The Chair noted the depth and breadth of the environmental and ethical specifications within the contract which highlighted the complexity of the contract for the council and a provider.  He then put the recommendations to the vote.

126.3    RESOLVED:

(1)         That the procurement of the corporate banking services contract, following the timeline and evaluation criteria set out in the report with a contract term of 5 years from 1 April 2015 to 31 March 2020 with an option to extend for a further 2 year period to 2022 be approved; and

(2)         That the Executive Director Finance & Resources be granted delegated authority to:

(i)           award the contract for 5 years following the recommendations of the evaluation panel and the results of the tendering process; and

(ii)         extend the contract for 2 years subject to satisfactory performance of the provider in respect of the initial 5 year period.