APPOINTMENT OF FUNDING AND TREASURY ADVISER

1. Title: APPOINTMENT OF FUNDING AND TREASURY ADVISER2. Awarding Authority: West of Scotland Housing Association (WSHA), Camlachie House, 40 Barrowfield Drive, Glasgow, GB Tel: 0141 550 5653 / 0141 550 5625. Email: Jennifer.cairns@westscot.co.uk. (Jennifer Cairns)3. Contract type: Service contract4. Description: IntroductionThe Awarding Authority is a Housing Association based in the specified location which owns and manages c.4,100 homes across the west of Scotland including houses for social rent and factored properties.At the 31 March 2020 WSHA had total borrowings of c£64m. These comprised loans with various terms from three high street lenders. See Annex B1. The Association has access to £26m of undrawn revolving credit facilities and also entered into a loan commitment for a further £10m to be drawn down in January 2021 repayable after 15 years.The BriefThe contract for retained advisory services will commence on 1 January 2021. You should provide a proposal outlining your approaches, methods and fixed fees for the following tranche of work:Retained advisory services for a three year contract commencing on 1 January 2021, with an option to add two additional one year periods: annual fees for each of the five years to be clearly set out.We anticipate that we will also require advice outside of the retainer service such as representing the association in discussions with current or prospective lenders on all matters pertaining to the provision of funding and the associated terms and conditions applied.In your proposal please advise of any additional services that are provided within the tender price for the retainer service. We will also require you to provide an indication of the costs for additional services preferably in the form of a supporting day rate.The following should be noted:WSHA do not undertake to accept the lowest tenderWSHA reserve the right not to accept any tenderWSHA intend to shortlist three firms for interview but depending on the proposals received we may shortlist more or less than threeWSHA will not be held liable for the abortive costs of any firm, however incurred, in the preparation and submission of tenders in connection with this brief or any part of the selection process.Tenders submitted late will not be accepted.?Retained Advisory ServicesAs a minimum, proposals for the retained services should address and/or provide for the following:Attendance at least one review meeting in any 12 month period which may include presentations at the Board of Management / Audit Committee meetings in order to update the Board / Committee and discuss treasury management issuesMeet as required with the Director of Finance to prepare for the above meetings and reviewsProvision of annual training on treasury matters for Board and Board members and relevant staffAttend meetings with our existing funders on requestCarry out a review of WSHA’s Treasury Strategy on an annual basisCarry out a review of WSHA’s Treasury Policy and Procedures on an annual basisWritten and / or on-phone advice where the fixing of debt and similar matters are being considered, including the benchmarking of rates offeredOver-phone and / or email advice consultancy during working hours throughout the yearProvision of market information including forecast inflation rates, LIBORs, LIBIDs, market swap rates etc on request.Notification of credit rating changes on the leading financial institutions on requestSupport and advice in implementation of treasury and funding strategiesProvision of quarterly economic and financial outlook together with up to date business planning assumptionsUpdates in relation to developments in the funding market for the sectorAdvice on potential future funding approaches and strategies, to support business plans whilst also keeping risk exposure to an appropriate and acceptable levelReview of the association’s five and 30 year financial projections with reference to treasury and funding mattersAnnual stress testing reviewThe appointed consultant must be available for supporting WSHA in all its treasury dealings over the retainer period. The above list should not be considered exhaustive and where you consider, in your experience, that other items should be included then you should address these in your proposal.Basis for QuotationsQuotations should set out your approach and methodology to all the funding advice/services required by this brief and should be separately provided for:The Retained Advisory ServicesDay rates or fee proposals for additional work as appropriateYour proposals should also include:Details of the FirmPlease advise the nature and culture of your firm, and of any larger organisation or group of which it is a member.Please advise if your firm or any associated part of your organisation acts as a bank or as a provider of funds.Please advise if your firm or any associated part of your organisation obtains fees or commissions from banks or other investors for the brokering of transactions.Please advise your firm’s equal opportunities policyPlease advise how your firm obtains feedback from clients on its performancePlease provide information which would give us confidence that your firm:has sufficient staff to service its current client basehas the capacity and means to manage the risk of interruption from any staff leaving your servicePeoplePlease advise summary CVs of the people who will directly provide the service to WSHA. Please advise the location of the person that will lead the contractPlease advise the CV of the most senior treasury specialist in charge of your serviceExperiencePlease advise how many Housing Associations (RSLs) you presently provide a retainer service to.Please advise the experience you have had in the last 24 months in securing large scale funding from the markets for RSLs. Please convey :The range of situations you have had to addressThe range of funders who have been involvedThe range of products/deal types which have been utilisedPlease advise the level of any experience you have had in the last 24 months in dealing and negotiating with funders seeking to increase the terms of existing facilities with an RSL.OtherPlease provide three referees for organisations for which you have undertaken similar work.Please advise your current and / or proposed level of Professional Indemnity Insurance cover.Please enclose your prevailing Professional Indemnity Insurance certificate.Please supply a sample copy of the interest rate sheet that you send on a daily/weekly basis to your existing clients5. CPV Code(s): 79620000, 66600000, 791110006. NUTS code(s): UKM, UKM7, UKM77, UKM82, UKM93, UKM847. Main site or location of works, main place of delivery or main place of performance: west of Scotland, Glasgow, Ayrshire and Lanarkshire8. Reference attributed by awarding authority: Not provided.9. Estimated value of requirement: Not provided.10. Closing date 20.11.2020 (12:00).11. Address to which they must be sent: For further information regarding the above contract notice please visit: 12. Other information: TimetableThe timetable for the process is as follows:Tenders invited 21 October 2020Submission return deadline 20 November 2020 12PMPanel Shortlisting w/c 23rd NovemberInterviews and decision w/c 27th NovemberInception meeting with Director of Finance w/c 30th NovemberFinancial InformationThe following information is provided in the strictest commercial confidence and is ONLY to be used in connection with this tender.Annex A – Audited Annual Accounts 2019/20Annex B1 – Summary of Funding 2020Annex B2 – Loan Portfolio Return 2020Annex C – Current Business PlanSubmission of TendersSubmissions (which may be in paper form, electronic or both) are requested for not later than 12pm pm on 20th November 2020. Tender documents should be submitted to awarding authority.If you wish to discuss any aspects of the Brief before making your submission, please contact the awarding authority.# funding opportunity