Financial Services and Payments Framework

Unknown

Value

£0

Classifications

  • Financial and insurance services

Tags

  • tenderUpdate

Published

1 year ago

Description

The Contracting Authorities, along with a number of other councils of varying sizes, are
looking to review their Financial Management & Payment Systems.
Specifically, the following areas are of interest:
Income Management Systems
Banking Services
Merchant Services
Call Masking & IVR systems for compliant Moto payments
Open Banking Payments
Page 8 to 19
Open Banking Data Services
Procurement Cards
Income Management Systems may include the provision of Merchant Services, Call Masking
& IVR and Open Banking Payments.

Documents

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  • Contract Agreement

    The official contract terms, conditions, and scopes of work.

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  • Award Notice

    Details on the tender award and selected suppliers.

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Ofgem 2025-011 Benchmarking Services for OFTO Tender Rounds 10-14

The OFTO team requires a benchmarking advisor to provide support on OFTO transactions and ensure that the most competitive pricing of any financial instrument is achieved at financial close. The advisor will need to demonstrate that a clear and transparent process is followed in arriving at this pricing. They will also ensure that the terms of financing of the three projects within Tender Round 10 (TR10), one project in Tender Round 11 (TR11), one project in Tender Round 12 (TR12) and three projects in Tender Round 13 (TR13) are favourable for consumers. Ofgem do plan on extending this work to Tender Round 14 (TR14) but the scope of this work is not yet known. The supplier shall provide expert advice on the hedging process up to and at Financial Close (FC) on TR10, TR11, TR12, TR13 and TR14. The scope of work is as follows: * Review the structure of the interest rate and inflation hedging profiles and calculations and confirm that this is an acceptable structure or alternatively provide review of the structuring of underlying GILT for pricing any public bond. * Provide indicative market pricing/updated pricing on all hedging and underlying GILT on request to ensure the most competitive rates are achieved. * Proactive alerts on material market movements which may impact the pricing, including forewarning of any market activity which may create volatility and advise on how to manage this. * Agree hedge term sheets/model outputs with the hedge providers where necessary. * Provide/review the proposed execution protocol for the required hedging and/or bond issuance and negotiate this protocol with the hedge bank(s)/providers as necessary. * Undertake offline benchmark pricing exercises to establish mid-market levels and ensure pricing is agreed as a margin over mid-level. * Identify any anomalies which may indicate additional margins for the hedge providers. * Coordinate dry run pricing leading up to the FC and manage a series of 'dry runs' with all relevant parties, including but not limited to Ofgem and its financial adviser(s)plus the FC execution call. * Advisors are also required to liaise directly with Ofgem on any issues identified.

Katy Reed

Published 1 week ago

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