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Published 15 Dec 2025, 16:42 GMT

Official UK procurement notice

Banknote Supply and Services Agreement

Official notice

Authority: BANK OF ENGLAND

ServicesCompetitive flexible procedureAbove threshold
Sectors: Printed matter and related products (22)Business Services & Consultancy (79) Delivery: East of England (UKH3)
Published estimate£750,000,000≈ £75m / year · £900,000,000 inc. VAT
Submissions closed 20 Feb 2026
Next notice expected 19 Jan 2026
Contract term 10 yrsends 28 Feb 2038 · up to 28 Feb 2041 with extensions · starts 1 Mar 2028

What is being bought

Published requirement description

This tender notice is for the award of a public contract through a competitive flexible procedure in accordance with section 20(1) and (2)(b) of the PA 2023 .

The contract will provide for the future supply of Banknotes, supporting the Bank of England (the Bank) in fulfilling its core responsibility of issuing secure Banknotes from Debden, the Bank's secure printing facility.

Further details in relation to the services are set out in the associated tender documents.

The Total Value of the opportunity is an estimate inclusive of all extensions available under the contract. The actual value will be dependent on demand for Banknotes as well as future Banknote designs under this contract.

  • How the procedure runs: The procedure comprises: Stage 1 - Requiring a response to the Conditions of Participation Stage 2 - Initial tender responses from all suppliers that satisfy the Conditions of Participation will be evaluated Stage 3 - Negotiation of Stage 2 proposals Stage 4 - The Bank will issue an invitation for Best And Final Offers (BAFO) and request submission of final tender responses All suppliers that are not otherwise excluded will be entitled to participate in negotiation and submit BAFO.
  • No preliminary market engagement: The preliminary market engagement took place prior to the commencement of the Procurement Act 2023 and further information on the preliminary market engagement conducted will be provided in the associated tender documents.

CPV: Banknote printing services · Banknotes

The lotProcurement structure

single lot · value published
Lot #1Renewal 10 yrsPublished value£750,000,000
Contract period: 1 Mar 2028 – 28 Feb 2038 (10 yrs) · up to 28 Feb 2041 with extensionsValue: £750,000,000 exc. VAT · £900,000,000 inc. VAT
Delivery: East of England
Extensions: The Bank intends to (and reserves the right to) directly award additional or repeat services that are similar to the services supplied under the contract, which is the subject matter of this Tender Notice, in accordance with Schedule 5, paragraph 8 of PA 2023. The Bank reserves the right to modify this contract in accordance with Schedule 8, paragraph 1 of PA 2023. · The Bank has the ability to extend the contract for any such duration in any number of combinations providing that the total number of extensions do need exceed three years in total.
22430000 Banknotes79812000 Banknote printing services
Pre-qualification & selection criteria (PQQ)1
  • Technical & professional ability

    In summary, the conditions of participation address the following;

    • Core Supplier Information
    • Associated Persons
    • Debarment (including proposed sub-contractors)
    • Financial Capacity
    • Insurance Requirements
    • Technical Ability
    • Security
    • Carbon Reduction
    • Health & Safety
    • Prompt Payment
    • Modern Slavery
    • Quality Assurance
    • Equality & Diversity
    • Business Continuity
    • ESG
    • Bribery Act 2010

    All conditions of participation are assessed on a Pass/Fail basis. The questions and the assessment criteria are set out in the Procurement Specific Questionnaire provided as part of the associated tender documents.

What it takes to win
i

How this buyer will score bids.

The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).

Evaluation split and conditions of participation as published; the tender pack may add more
How bids were scored
Quality: 55%Price: 45%
Published sub-criteria (2)
  • Quality Requirements: 55%
  • Pricing Requirements: 45%
Published award criteria (2)
  • Quality Requirements
  • Pricing Requirements
Conditions of participation1
  • Technical & professional ability

    In summary, the conditions of participation address the following;

    • Core Supplier Information
    • Associated Persons
    • Debarment (including proposed sub-contractors)
    • Financial Capacity
    • Insurance Requirements
    • Technical Ability
    • Security
    • Carbon Reduction
    • Health & Safety
    • Prompt Payment
    • Modern Slavery
    • Quality Assurance
    • Equality & Diversity
    • Business Continuity
    • ESG
    • Bribery Act 2010

    All conditions of participation are assessed on a Pass/Fail basis. The questions and the assessment criteria are set out in the Procurement Specific Questionnaire provided as part of the associated tender documents.

What this means for your bid
  • Price carries 45 of 100 points: a 10% discount moves about 4.5 points. Quality carries 55 of 100: the paper moves it further than the discount.

Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.

Procedure terms & legal framework

From the official record
Procedure method
Competitive flexible procedure
Legal basis
UKPGA · 2023/54 Procurement Act 2023
Procurement category
Services
Notice status
Closed
Procurement threshold
Above threshold (FTS publication)
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Competitive procedure
GPA / WTO covered
Yes (GPA, CPTPP)
Recurring procurement
Unspecified in notice
First published
15 Dec 2025, 16:42 GMT
Last source update
19 Jan 2026, 08:52 GMT
Award evaluation window
Submission end – 1 Apr 2027
Authority reference
PROC/033
FTS notice number
2026/S 000-004172
Latest notice
Tender notice (UK4)
Classification (CPV)
Banknote printing servicesBanknotes
Delivery area
East of England (UKH3)
Official registry OCID
ocds-h6vhtk-05f615 Find a Tender
Contract terms summary

Payment terms in line with the contract provided as part of the associated tender documents.

How it runs

The procedure comprises:

Stage 1 - Requiring a response to the Conditions of Participation

Stage 2 - Initial tender responses from all suppliers that satisfy the Conditions of Participation will be evaluated

Stage 3 - Negotiation of Stage 2 proposals

Stage 4 - The Bank will issue an invitation for Best And Final Offers (BAFO) and request submission of final tender responses

All suppliers that are not otherwise excluded will be entitled to participate in negotiation and submit BAFO.

Review and risk notes
Risks

The Bank of England is responsible for issuing secure banknotes as part of its role in ensuring the monetary and financial stability of the UK. The satisfactory performance of the services under this contract is a key aspect of that role and the Bank has designed the contract to respond to known risks which, if materialised, would threaten or undermine the performance of the contract.

However, there are some risks which cannot be fully known, or whose impact cannot be fully measured, in advance. Should the Bank become aware of a risk which will require addressing as it may impact on the satisfactory performance of the contract, in particular as it relates to its contribution to the issuing of banknotes and ensuring the monetary and financial stability of the UK, it is possible that modifications to the contract will be required

How it was run

Official notice
Run through: ProContract (Due North) · Who buys & how to bid on ProContract
Supplier login requiredElectronic submission allowedLanguage: EN
Access & registration note: Free · short registration with manual review; public opportunity list
Requests to participate (first stage)
20 Feb 2026, 12:00 GMT
Submission deadline
20 Feb 2026, 12:00 GMT
Clarification deadline
6 Feb 2026, 16:00 GMT
Submission channel
Official e-sourcing portal
Electronic submission
Allowed
Accepted languages
en
Detailed submission instructions & authority contactsFrom official release

Submission of responses to the Procurement Specific Questionnaire must be via the Bank's procurement portal Proactis at this address: supplierlive.proactisp2p.com/Account/Login ↗

Timeline

15 Dec 2025 → 1 Mar 2028 · 7 dates
  1. Planning notice published316 days ago
    15 Dec 2025, 16:42 GMT
  2. Tender notice published281 days ago
    19 Jan 2026, 08:52 GMT
  3. Next notice expected280 days ago
    19 Jan 2026, 23:59 GMT
  4. Clarification questions by263 days ago
    6 Feb 2026, 16:00 GMT
  5. Submission deadline249 days ago
    20 Feb 2026, 12:00 GMT
  6. Today
    27 Oct 2026
  7. Award decision expected byin 156 days
    1 Apr 2027, 23:59 BST
  8. Contract starts
    1 Mar 2028

Notice history

4 events · 2 releases on Find a Tender · since 15 Dec 2025
  1. Pipeline notice published
    15 Dec 2025, 16:42 GMT
    UK1
  2. Tender notice published
    19 Jan 2026, 08:52 GMT
    UK4
  3. Status changed to active
    19 Jan 2026, 08:52 GMT
  4. Procurement method changed
    19 Jan 2026, 08:52 GMT

Contracting authority & participating public bodies

BANK OF ENGLAND

Contracting authorityPublic authority - central government GB-COH: RC000042 · GB-PPON: PRDB-1113-HPPT Threadneedle Street, London, London, EC2R 8AHContact email

Official documents & specifications (3)

Official links; attachments are not copied

Tender pack and attachments

  • Bidding documents and specificationstenderBidding documents and specificationsAccess: Due to the sensitive nature of documentation, interested suppliers are required to complete a non-disclosure agreement in order to access the associated tender documents. Interested suppliers should email  fm.contracts@bankofengland.co.uk with the reference "PROC/033" within the subject and confirm the signatory name and e-mail address for the Non-disclosure Agreement. This will then be issued via DocuSign. Once the NDA is signed the following documents are being provided for the first stage of the procurement and will be available on the Bank's Procurement portal Proactis. - Procurement Specific Questionnaire - Instructions to Suppliers - Supplier Code of Practice -Background and Context Document -Draft and redacted Contract The documents necessary to participate in future stages of the procurement following the Conditions of Participation will be shared at the beginning of each stage including but not limited to: - Draft Contract Terms - Invitation to Tender - Price Schedule Documents are/will be provided on the Bank of England's Procurement portal: https://supplierlive.proactisp2p.com/ Certain documents, due to their sensitive nature, will only be made available from Stage 2 onwards for viewing on Bank premises.

Notices published for this procedure

  • Tender notice tenderTender noticeUK4Tender notice on Find a Tender
  • Pipeline notice planningPipeline noticeUK1Pipeline notice on Find a Tender