Issue - meetings

(Report of the Director of Corporate Resources. To be introduced by the Cabinet Member for Finance and Carbon Reduction). To approve the award of the contract for the provision of banking services for a period of five years from 1 July 2013 with an option to extend for a maximum of a further five years.

Cabinet considered a report, introduced by the Cabinet Member for Finance and Carbon Reduction, which sought approval to award a contract for the provision of banking services.

Exempt information pertaining to the report was considered under agenda Item 19.

RESOLVED:

That the award of contract for the provision of banking services to Barclays Bank, for a period of five years, from 1 July 2013 with an option to extend for periods totalling a maximum of a further five years be approved.

Alternative Options Considered

Four banks (identified in paragraph 1.1 of the exempt appendix of the report) responded to the OJEU advertisement for this tender and they were evaluated before making this recommendation.

Reasons for Decision

The contract for the provision of banking services expires on 30 June 2013 and as this is a service the Council requires, it is necessary to make a decision to award a new contract. Due to the value of the contract, this is required to be a Cabinet decision. The recommendation to award this contract to the selected supplier had been made on the basis they submitted the most economically advantageous tender.