Contract notice
Section I: Contracting
authority
I.1) Name and addresses
Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR0 2NA
UK
Telephone: +44 8456002541
E-mail: commercialservices@ppf.co.uk
NUTS: UK
Internet address(es)
Main address: https://ppf.bravosolution.co.uk/
I.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge at:
https://ppf.bravosolution.co.uk/
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be sent electronically to:
https://ppf.bravosolution.co.uk/
Tenders or requests to participate must be sent to the abovementioned address
I.4) Type of the contracting authority
Body governed by public law
I.5) Main activity
Economic and financial affairs
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Custody and Investment Operations Outsourcing Services
II.1.2) Main CPV code
66162000
II.1.3) Type of contract
Services
II.1.4) Short description
We are seeking proposals to appoint a Service Provider to deliver Custody and Investment Operations Outsourcing (IOO) Services. Custodian Services also include Fund accounting and transfer agency services (unitisation).
We may also look to appoint a second Custodian to manage some of the PPF’s assets, the exact amount is to be confirmed. The second-Custodian would not be required to deliver Transfer agency services (Unitisation) but may be required to deliver Fund Accounting services depending on the assets covered.
II.1.5) Estimated total value
Value excluding VAT:
53 000 000.00
GBP
II.1.6) Information about lots
This contract is divided into lots:
No
II.2) Description
II.2.2) Additional CPV code(s)
66151000
66172000
II.2.3) Place of performance
NUTS code:
UKI62
II.2.4) Description of the procurement
We are seeking proposals to appoint a Service Provider to deliver Custody and Investment Operations Outsourcing (IOO) Services. Custodian Services also include Fund accounting and transfer agency services (unitisation).
We may also look to appoint a second Custodian to manage some of the PPF’s assets, the exact amount is to be confirmed. The second-Custodian would not be required to deliver Transfer agency services (Unitisation) but may be required to deliver Fund Accounting services depending on the assets covered.
The stated value is a current estimate. Our estimated range is between £9m to £53m as we are aware that the actual value could vary significantly according to a number of potential factors over the life of the contract.
II.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 120
This contract is subject to renewal: Yes
Description of renewals:
A single Service Provider to deliver the Custody and IOO Services. However, two contracts: Custody - will be for 5 years with optional extensions to take full term to 10 years. Fund accounting and Transfer agency services as required for initial term of 12 months with option to extend to max term. IOO – contract will be for an initial 3 years with optional extensions to take full term to 10 years
II.2.9) Information about the limits on the number of candidates to be invited
II.2.10) Information about variants
Variants will be accepted:
No
II.2.11) Information about options
Options:
No
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
No
II.2.14) Additional information
Following the evaluation of Stage 2 - invitation to tender (ITT) the PPF reserves the right to move straight to award (Stage 5) if there is a proposal that completely meets our need with no refinement needed. If refinements are needed we will continue to Stage 3 - Negotiations. Please refer to the Information and Guidance document (available on the PPF eSourcing portal) for further details.
Section III: Legal, economic, financial and technical information
III.1) Conditions for participation
III.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
III.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
III.2) Conditions related to the contract
III.2.2) Contract performance conditions
As detailed in tender documents.
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Competitive procedure with negotiation
IV.1.5) Information about negotiation
The contracting authority reserves the right to award the contract on the basis of the initial tenders without conducting negotiations
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
No
IV.2) Administrative information
IV.2.1) Previous publication concerning this procedure
Notice number in the OJ S:
2021/S 000-012875
IV.2.2) Time limit for receipt of tenders or requests to participate
Date:
10/08/2021
Local time: 12:00
IV.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates
Date:
12/07/2021
IV.2.4) Languages in which tenders or requests to participate may be submitted
EN
IV.2.6) Minimum time frame during which the tenderer must maintain the tender
Tender must be valid until:
31/08/2022
Section VI: Complementary information
VI.1) Information about recurrence
This is a recurrent procurement:
No
VI.2) Information about electronic workflows
Electronic invoicing will be accepted
Electronic payment will be used
VI.4) Procedures for review
VI.4.1) Review body
Pension Protection Fund
Croydon
UK
VI.5) Date of dispatch of this notice
12/07/2021