Tender Details

Country: United Kingdom
Summary: Ps25037 - Appointment of Administrators for Innovate Uk Loans
GBT Ref No: 117679290
Deadline: 22 May 2025
Financier: Self Financed
Purchaser Ownership: Government
Tender Value: GBP 240000
Notice Type: Tender
Document Ref. No.:
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Description:
The final date and time for the submission of bids is Thursday 22nd May 2025 at 11:00 hrs DO NOT apply directly to the buyer. All tender information MUST be submitted through the Jaggaer eSourcing Portal. Brief Description of Requirement At present the IUKL loan portfolio consists of around 260 businesses with an overall exposure of £219m. Due to the early-stage nature of the businesses in the portfolio the expectation is that a considerable number will not be successful in achieving their objectives and will ultimately be unable to repay their innovation loan as planned. If a company is in debt and cannot pay the money that it owes it will typically be placed into administration. To facilitate this process there will be an appointment of an administrator either by the directors, a creditor or the court to fulfil the administration process. To date there have been 41 businesses in the IUKL portfolio that have entered administration, however in all bar one of these cases the administrator has been appointed by the company themselves when they have filed for administration. The exception to this was for a potential fraudulent case and the administrators were appointed from the previous panel that IUKL had. Whilst there is currently the provision for IUKL to appoint an administrator under the terms of the debenture noted above, there is not the necessary process in place for an administrator to be appointed directly by IUKL. Therefore, the current issue is logistical rather than...
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Ps25037 - Appointment of Administrators for Innovate Uk Loans - Uk Tender

The UKRI, a Government sector organization in United Kingdom, has announced a new tender for Ps25037 - Appointment of Administrators for Innovate Uk Loans. This tender is published on UkTender under GBT Ref No: 117679290 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2025-05-22.

The estimated tender value is GBP 240000, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.