ETENDERS

Contract notice

Information

Published

Date of dispatch of this notice: 25/07/2018

Expire date: 07/09/2018

External Reference: 2018-411509

TED Reference: 2018/S 143-327225

Contract notice

Contract notice

Directive 2014/24/EU

Section I: Contracting authority

I.1)

Name and addresses

Department of Finance
N/A
Government Buildings
Dublin
Merrion Street
IE
Contact person: Paul Caball
Telephone: +353 16045008
E-mail: paul.caball@finance.gov.ie
NUTS code:  IE061 -  Dublin
Internet address(es):
Main address: www.finance.gov.ie
Address of the buyer profile: https://irl.eu-supply.com/ctm/Company/CompanyInformation/Index/310

I.3)

Communication

Access to the procurement documents is restricted. Further information can be obtained at:  
http://irl.eu-supply.com/app/rfq/rwlentrance_s.asp?PID=132849&B=ETENDERS_SIMPLE
Additional information can be obtained from
the abovementioned address:  
Tenders or requests to participate must be submitted
electronically via:  http://irl.eu-supply.com/app/rfq/rwlentrance_s.asp?PID=132849&B=ETENDERS_SIMPLE
Tenders or requests to participate must be submitted
to the abovementioned address
I.4)

Type of the contracting authority

Ministry or any other national or federal authority, including their regional or local subdivisions
I.5)

Main activity

Economic and financial affairs

Section II: Object

II.1)

Scope of the procurement

II.1.1)

Title

Request for Tender for a Review of Government Bank Remuneration Policy
Reference number:  10/2018
II.1.2)

Main CPV code

66171000  -  Financial consultancy services
II.1.3)

Type of contract

Services
II.1.4)

Short description

The provision of advice and assistance to the Department of Finance in conducting a review of the Government’s current restrictions in relation to remuneration in AIB, BOI and Ptsb. During the financial crisis the State provided €64bn in financial support in various forms to the banking system. In return, banks supported by the State agreed to a range of measures including restrictions in relation to remuneration.
II.1.5)

Estimated total value

Value excluding VAT: 144001.00  EUR
II.1.6)

Information about lots

This contract is divided into lots: no
II.2)

Description

II.2.2)

Additional CPV code(s)

79412000  -  Financial management consultancy services
II.2.3)

Place of performance

NUTS code:  IE061 -  Dublin
II.2.4)

Description of the procurement

The provision of advice and assistance to the Department of Finance in conducting a review of the Government’s current restrictions in relation to remuneration in AIB, BOI and Ptsb. During the financial crisis the State provided €64bn in financial support in various forms to the banking system. In return, banks supported by the State agreed to a range of measures including restrictions in relation to remuneration.
As well as the much publicised €500,000 total compensation limit (excl. pension) and the prohibition on all bonuses (cash and shares), there are also a range of other restrictions in the Letter that limit the banks’ freedom of action without the Minister’s formal consent.
These restrictions not only apply to staff, executives and directors but they also cover “service providers” to the banks where they derive their custom predominantly or exclusively from the banks. The restrictions also apply to all staff of the banks regardless of the country in which they work and as such the bank cannot use variable pay as a retention mechanism in the UK, US and Europe even in business lines where this would be the norm in those markets.
Since then a new banking regulatory framework has been put in place across the EU, the economy has returned to near full employment, the relevant banks are profitable again. The State remains the largest shareholder in AIB, BOI & Ptsb but following the successful IPO of AIB in June 2017 all three banks are also now have listings on the main market of the Dublin and London stock exchanges.
In light of the above and the more intense competition for talent evident in the economy as a whole, the Department of Finance considers it appropriate to conduct a further review of the existing remuneration policy to determine if the current restrictions are still fit for purpose.
II.2.5)

Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)

Estimated value

Value excluding VAT: 144001.00  EUR
II.2.7)

Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 3
This contract is subject to renewal: yes
Description of renewals:  
The Contracting Authority reserves the right to extend the Term for a period or periods of up to three (3) months with a maximum of six (6) months such extension or extensions on the same terms and conditions, subject to the Contracting Authority’s obligations at law.
II.2.10)

Information about variants

Variants will be accepted: no
II.2.11)

Information about options

Options: no
II.2.13)

Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no

Section III: Legal, economic, financial and technical information

III.1)

Conditions for participation

III.1.1)

Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

List and brief description of conditions:  Minimum Turnover
III.1.2)

Economic and financial standing

Selection criteria as stated in the procurement documents
III.1.3)

Technical and professional ability

Selection criteria as stated in the procurement documents
III.2)

Conditions related to the contract

III.2.3)

Information about staff responsible for the performance of the contract

Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract

Section IV: Procedure

IV.1)

Description

IV.1.1)

Type of procedure

Open procedure
IV.1.8)

Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement : yes
IV.2)

Administrative information

IV.2.2)

Time limit for receipt of tenders or requests to participate

Date:  07/09/2018
Local time:  12:00
IV.2.4)

Languages in which tenders or requests to participate may be submitted

English
IV.2.6)

Minimum time frame during which the tenderer must maintain the tender

Duration in months : 12  (from the date stated for receipt of tender)
IV.2.7)

Conditions for opening of tenders

Date:  07/09/2018
Local time:  12:00
Place:  
Shareholding and Financial Advisory Division
Department of Finance
First Floor, Block 1
Miesian Plaza
51-58 Lower Baggot Street
Dublin 2
D02 XW14

Section VI: Complementary information

VI.1)

Information about recurrence

This is a recurrent procurement:  no
VI.2)

Information about electronic workflows

Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
VI.4)

Procedures for review

VI.4.1)

Review body

Department of Finance
Department of Finance Government Buildings, Upper Merrion Street
Dublin
D02R583
IE
Telephone: +353 16045008
E-mail: paul.caball@finance.gov.ie
Internet address: www.finance.gov.ie