DWP Payment Contingency Service

Concepts

• dwp payment contingency service
• finance and insurance
• sponsor bank
• payment contingency services
• provision of the dwp payment contingency service
• pension payments
• banking services
• release of the bacs payment file
• functionality of the payment contingency services
• faster payments

Location

United Kingdom:

Description

This procurement is for the provision of the DWP Payment Contingency Service. A Sponsor Bank is required to support the functionality of the Payment Contingency Services. Without a Sponsor Bank in place, the Payment Contingency Services is unable to operate. This contingency service is invoked in situations when there is a delay with release of the BACS payment file, which contains benefit and pension payments and the Department's ability to make payment on time is threatened. The service transforms BACS payments into Faster Payments to ensure customers receive their benefit/pension entitlement on their due date, reducing reputational risk and satisfying the Secretary of State's obligation. The end to end Payment Contingency service requires two separate components, these are: • LOT 1 - A service to reformat BACS payments into Faster Payments for onward submission into the Faster Payment infrastructure • LOT 2 - A Sponsor Bank for the settlement of funds with the Bank of England. DWP makes circa. 2.5m payments per day and pays over £3.7bn per week.

Lot Division

Award Detail

Award Criteria

CPV Codes

• 66000000 - Financial and insurance services
• 66110000 - Banking services

Other Information

** PREVIEW NOTICE, please check Find a Tender for full details. ** Suppliers Instructions: How to Express Interest in this Tender: 1. Register on the eSourcing portal (this is only required once): https://dwp.bravosolution.co.uk & click the link to register - Accept the terms & conditions & click 'continue' - Enter your correct business & user details - Note your chosen username & click 'Save'. You will receive an email with your password (keep this secure) 2. Express an Interest in the tender - Login to the portal with the username/password - Click the 'PQQs / ITTs Open To All Suppliers' link. (These are Pre-Qualification Questionnaires or Invitations to Tender open to any registered supplier) - Click on the relevant exercise to access the content. - Click the 'Express Interest' button at the top of the page. - This will move the PQQ /ITT into your 'My PQQs/ My ITTs' page. (A secure area reserved for your projects only) -You can now access any attachments by clicking 'Buyer Attachments' in the 'PQQ/ ITT Details' box 3. Responding to the tender - Click 'My Response' under 'PQQ/ ITT Details', you can choose to 'Create Response' or to 'Decline to Respond' (please give a reason if declining) - You can now use the 'Messages' function to communicate with the buyer and seek any clarification - Note the deadline for completion. Follow the onscreen instructions to complete the PQQ/ ITT - There may be a mixture of online & offline actions to complete (detailed online help available). To submit your reply use the 'Submit Response' button (top of the page). For further assistance please consult the online help, or the eTendering help desk. DWP expressly reserves the rights(i)to use a reverse auction; (ii)to cancel this procurement at any stage; (iii)to not award any contract as a result of the procurement process commenced by publication of this notice; (iv)and in no circumstances will DWP be liable for any costs incurred by potential suppliers.