Sponsor Bank Service Tender

• Country: United Kingdom
• Summary: Sponsor Bank Service
• GBT Ref No: 134993822
• Deadline: 20 Mar 2026
• Financier: Self Financed
• Purchaser Ownership: Government
• Tender Value: Refer Document
• Notice Type: Tender
• Document Ref. No.: P1189
• Purchaser's Detail:
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• Description:
• This procurement focuses on the provision of Payment Contingency Services for the Department for Work and Pensions (DWP) and will be structured into two distinct Lots: Lot 1: Short Term Payment Contingency Service Lot 2: Sponsor Bank Service These services are interdependent and, collectively, enable the Department for Work and Pensions to meet its statutory obligations on behalf of the Secretary of State, while also maintaining public confidence in the timely delivery of benefit and pension payments. Lot 1: Short Term Payment Contingency Service This service is required in exceptional circumstances where an internal DWP payment system disruption causes a delay in the release of Bacs payment files, consequently posing a risk to the timely disbursement of funds. These files contain critical payment information relating to various benefit types or pensions, along with the details of the responsible paying department. To mitigate such risks, DWP requires a contingency service to ensure that customers receive their entitlements on their payment due date. This service is essential for maintaining service continuity. Lot 2: Sponsor Bank Service The Sponsor Bank plays a critical enabling role in the operation of the Short Term Payment Contingency Service. It provides the necessary banking infrastructure and support to process Faster Payments on behalf of the DWP. Without this component, the contingency service cannot operate, making the Sponsor Bank a critical element in the success...
• Documents:

 Tender Notice