Decision details

NatWest current contract has expired. It is not envisaged that the revised prices will have a material impact on the contract, i.e. less than 10% of the initial contract value, therefore allowing a delegated officer decision to be made.

Option 2: 2 year extension
Last year’s contract negotiation resulted in bank charges reducing by circa £8k per year. Previous market testing has show that we are getting value for money, but this timeframe would allow for further market testing to be done if considering a longer term contract in the future. Current pricing will be extended at the same levels until 31st March 2023.

Option 1: 12 month extension
Option 2: 2 year extension
Option 3: 5 year extension