General Banking Services
Introduction
The General Banking Services framework, managed by the North East Procurement Organisation (NEPO), is a formal procurement arrangement designed to facilitate the acquisition of essential banking services by public sector bodies. Active from its inception and running until 13 March 2028, this framework operates as a single-lot agreement encompassing a curated selection of three suppliers. It serves as a strategic instrument for contracting authorities seeking streamlined access to a comprehensive suite of banking services tailored to public sector needs.
Context & Use Case
NEPO531 is situated within the 'Financial Services' category, with a concentrated focus on 'general banking services'. This framework has been established to assist public sector entities in efficiently managing their financial transactions and banking requirements. Contracting authorities, including local councils and other governmental bodies, leverage this framework to ensure sound financial management practices while maintaining compliance with public procurement regulations. The framework is particularly beneficial in standardizing banking operations across various departments, thereby enhancing operational efficiency and financial oversight. By utilizing NEPO531, contracting authorities can mitigate administrative burdens associated with procuring banking services independently, thus allowing them to focus on strategic financial management.
Scope of Services
NEPO531 offers a comprehensive range of banking services designed to meet the diverse needs of public sector organizations. The framework includes: 1. Establishing bank accounts for executing payments, such as creditor cheques, CHAPS, BACS, direct debits, and standing orders. 2. Facilitating balance requests, managing commission charges, and processing interest payments. 3. Providing additional services outside the main contract, which comprise accounts for receiving payments, managing rent allowances, handling staff salary payments through wage accounts, maintaining petty cash accounts, and overseeing treasury deposits.
Who Can Apply
The framework is open to a select group of suppliers who have been chosen based on their ability to deliver high-quality banking services. Given the framework's structure, new suppliers cannot apply during its active term. However, the existing suppliers are expected to maintain a high standard of service delivery to meet the evolving needs of public sector buyers.
Buyer Benefits
For public sector buyers, the NEPO531 framework offers a host of advantages. It ensures compliant procurement of banking services, adhering to established public sector procurement guidelines. By providing a pre-selected pool of suppliers, the framework facilitates a swift and competitive procurement process, allowing buyers to access necessary services without delay. Moreover, the centralized framework approach enables contracting authorities to leverage economies of scale, potentially reducing costs and enhancing service quality.
Lots
Not applicable
Next Steps
Suppliers interested in understanding the specific requirements or exploring opportunities within this framework are encouraged to directly contact NEPO. Engaging with the framework owner will provide suppliers with insights into the operational aspects and potential opportunities for collaboration.
How Biddable Can Help
Biddable offers robust support to suppliers engaged in public sector procurement. Through our services, suppliers can enhance their understanding of current frameworks like NEPO531, prepare effectively for participation, and gain greater visibility into upcoming procurement opportunities. Our focus is on providing insights and strategic guidance to ensure suppliers are well-positioned within the public sector procurement landscape.