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Decision details
Request to extend an existing banking contract
Decision Maker: Executive Director: Resources
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
The provision of core banking services is a
business critical service needed to effectively and efficiently
process the financial transactions of a large and complex
Council.
Decision:
To extend the contract for the provision of
banking services provided by the Royal Bank of Scotland banking
contract from 1st October 2019 for a further 2 years. The current
contract started on the 1st October 2016 and during this time the
service has been provided to a high standard. Given the critical
nature of this service until we have a replacement in place it is
high risk to terminate this arrangement.
Alternative options considered:
The current contract offered a significant
reduction on our previous banking unit costs demonstrating value
for money and therefore considered appropriate at this time to
extend the contract as the level of service provided was and
continues to be of a high standard.
Publication date: 24/10/2019
Date of decision: 01/10/2019