Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To Consider the report for of the Head of
Finance seeking delegated authority to award the contracts for
general banking and merchant acquiring following a joint
procurement exercise.
Delegate authority to the Chief Financial Officer to award the bank contract to the preferred bidder for both general banking and merchant acquiring.
This report is being brought forward to Cabinet to allow for the decision making of the joint procurement with five other local authorities to proceed and ensure that the project to change banks can be implemented in time for the contract expiry date of 21 September 2014.
The Council has no alternative but to change banks as the Co-op is withdrawing from the Local Authority banking market. The current contract expires on 21 September 2014. Without delegated powers being approved for the CFO the contract award would be delayed with the risk that the Council would be without a bank or that less favourable terms may be agreed due to time pressure.
None
Report author: Mike Chilcott
Publication date: 15/04/2014
Date of decision: 15/04/2014
Decided at meeting: 15/04/2014 - Cabinet
Effective from: 26/04/2014
Accompanying Documents: