Decision details

OD/22/165 Banking Contract

Decision Maker: Officer Decision

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

The current banking contract with Lloyds Bank expires on 31st March 2023. The opportunities for procuring a new banking contract have been hampered by the removal of banking opportunities from the ESPO framework. The average annual spend, based on the last 3 years, is around £38,000.

Decision:

To enter into a 3-year contract with Lloyds from 1st April 2023 to 31st March 2026, on the supplier’s terms and conditions (which are the same as the current contract) and to therefore treat this as a non-relevant contract under the Council’s Contract Standing Orders.

 

Reason:

To ensure the Council maintains access to essential banking facilities. With the risks associated with a potential change in banking arrangements, this is regarded as being in the best economic interests of the Council.

Publication date: 28/03/2023

Date of decision: 23/03/2023

Accompanying Documents: