Decision details

Following a competitive tendering process, this report is seeking approval to enter into a contract with the Royal Bank of Scotland to provide banking services for the London Borough of Barnet.

The Council invited providers to tender for the provision of banking services as the current contract with the Co-Operative Bank ends on 31^st March 2015 and there is no option to extend. The Eastern Shires Purchasing Organisation Banking Services Framework was used to reduce tendering costs.

The contract is to be for a term of five years with an option to further extend for up to two years with the contract starting on 1 January 2015 to allow a transition period before the cessation of the existing contract.