Decision Maker: Officer Decision
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Council’s contract for Treasury Management advice ended on 31st March 2020. The Council continues to require advice and proposed to enter a new contract for a period of 3 years.
There are only 2 potential providers in the market and research demonstrated that currently only one provider has the ability to conduct the service required by the Council.
Quotations were sought from LINK Asset Services for a 3-year period and were as follows:
Year 1 - £13,350 (1/4/20 – 31/3/21)
Year 2 - £13,700 (1/4/21 – 31/3/22)
Year 3 - £14,050 (1/4/22 – 31/3/23)
It is proposed to waive contract standing orders based on only a single provider of the service being available and to award a 3-year contract to LINK Asset Services
To waive contract standing orders and enter into a 3-year contract with LINK Asset Services.
Reason: To continue to receive treasury management advice and updates from the financial sector in accordance with the contract.
Publication date: 22/05/2020
Date of decision: 11/05/2020