Sponsor Bank Service
Buyer: Department for Work & Pensions
Prior notice. Estimated value: £1,223,740.
Description
The Department for Work and Pensions (DWP) wish to give notice of planned procurement opportunity in relation to two linked but separate future procurements for DWP payment contingency services (together referred to in this notice as the “Payment Contingency Services (“PCS”)). The intention of the PCS is to ensure DWP has robust contingencies in place to make benefit and pension entitlement payments to its customers on the dates they are due. The PCS are invoked only in exceptional circumstances where there is a delay in DWP releasing Bacs payment file(s). The DWP intends for the relevant services to be provided under two separate, interdependent contracts (both of which are required to allow for invocation of PCS) as follows: Short Term Payment Contingency (“STPC”) : This service reformats Bacs payments files into Faster Payment files for onward submission into the Faster Payment infrastructure Sponsor Bank (“SB”) : This service is required for the settlement of funds with the Bank of England. Please note that as these are separate procurements, different procurement processes and/or commercial approach may apply to each procurement. In addition, each procurement may…
Official publications
- FTS · 097555-2026 · 15 October 2026
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Frequently asked questions
- What is the estimated value of this tender?
- The estimated value published by the buyer is £1,223,740.
- Who is the buyer of this tender?
- The contracting authority is Department for Work & Pensions (United Kingdom).
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