Supplying goods and services

Our approach to procurement and how to become one of our suppliers

Our approach

The Bank is a Contracting Authority as defined under the UK’s public procurement legislations. These regulations mean the Bank must encourage open and transparent competition when procuring goods, services and works over certain value thresholds to ensure value for money. 

Procurement legislation thresholds 

Details with regards to the procurement financial thresholds and how they are applied by Contracting Authorities such as the Bank of England can be found on the following central government link: 

Procurement legislation thresholds guidance

Procurement Act 2023

The UK’s public procurement legislation is changing. From 24 February 2025, the new Procurement Act 2023 goes live and replaces the existing legislation. The legislation governs new procedures with regards to the Bank’s procurement activities undertaken post February 2025. Existing contracts and current procurements are not impacted and will continue as planned.

There are a range of resources and knowledge drops developed by central government to help explain these changes. 

These include:

More guidance and information for suppliers will be published by the Cabinet Office as the go-live date gets closer including specific "how -to" videos and step-by-step guides for registering and using the CDP. We invite Suppliers to follow this page: 

The Official Transforming Public Procurement Knowledge Drops (GOV.UK).

Procurement Act: Central Digital Platform (CDP)

One of the new requirements under the Procurement Act legislation which suppliers should note is the provision of a central digital platform to facilitate the publishing of required notices and documents in accordance with the new regulations. The central digital platform will be an enhancement of the existing Find a Tender service and will make it easier to find and bid for contracts, and for buyers to meet their transparency commitments under the Act.

Suppliers will need to register at the point that they want to bid for a contract.

Supplier Information to be provided on the CDP will include:

  • Basic information: Name, address, Companies House number (or equivalent, eg Charity number), VAT Number (if applicable), relevant qualifications or trade assurances and whether the organisation is a SME, VCSE or public mutual.
  • Financial information: Copies of your accounts from the most recent financial years
  • Connected persons: Names, addresses, and details on any connected persons to the business (eg persons with significant control). These are individuals or organisations who have influence or control over the supplier.
  • Exclusions: Details of any discretionary or mandatory exclusions for the supplier or connected persons as set out in schedules 6 and 7 of the Procurement Act 2023

To find out more about the Central Digital Platform, Central Government have published the following factsheet for suppliers.

The Procurement Act - Central Digital Platform Factsheet

The Bank will provide updates and the link to the above platform once published by central government and once the act has gone live.

Responsible procurement

Our Supplier Code of Practice sets our values and principles. Our suppliers must adhere to this Code.

We are actively developing ways to enhance our responsible procurement (including sustainability and social value) initiatives, ensuring they are effectively integrated throughout our supply chain. 

The Bank is committed to the prompt payment of our suppliers and is a signatory to the Government’s ‘Prompt Payment Code’.

How to become a supplier

Where required by the regulations, we advertise upcoming contracts on the Proactis Supplier Network portal.

If you are interested in supplying goods and services to us, please register on this portal. If you register, we can’t guarantee you will be chosen to provide our goods and services.

For more information about the stages we go through before appointing a new supplier, or awarding a contract, see our guide to our procurement process. This is for tenders above the regulatory threshold.

We have standard purchase order terms and conditions for goods and services.

No Purchase Order No Payment

The Bank of England adheres to a “No PO, No Payment” policy. When invoicing for goods or services, suppliers must quote a valid Purchase Order (PO number) on the invoice, in order to receive payment.

To be paid promptly, suppliers must ensure that they are provided with a PO number when accepting an order for goods or services. This may be obtained from the Bank of England contact who provided you with an instruction for the goods and services.

Suppliers who commence the delivery of goods or services prior to being provided with a valid PO, do so at their own risk and risk not being paid.

Any invoice received without a valid PO will result in delays as it will not be processed and will be returned to the supplier unpaid.

Exemptions to the “No PO, No Payment” policy only apply to:

  • Utilities
  • Rate refunds
  • Council tax
  • Grant payments

The Bank’s Official Purchase Order and payments

The Bank of England will pay for goods and/or services on receipt and aim to pay undisputed invoices, that quote a valid purchase order number, within 30 days of the invoice being submitted.

Invoices are to be submitted to FinanceDivisionPaymentsTeam@bankofengland.co.uk and include the following information.

All invoices should be attached when contacting the Finance Division and include the following information.

  • the Bank of England's Official Order Reference,
  • an identifying invoice number,
  • the supplier's name, address and VAT registration number,
  • the date of supply
  • date of issue
  • description of the goods or services supplied
  • the customer's name (or trading name) and address  

FAQs

Where can I find more information about the Procurement Act

Details concerning the current and new procurement legislation are located on the UK Central Government website Transforming Public Procurement

How do I register on the procurement portal Proactis?

Registration is a two-stage process. Prospective suppliers provide some details about their organisation and select a category that best matches the goods, services or works they provide.

More than one category can be selected but you should select the categories relevant to your organisation so that alerts for the correct opportunities are received. For example, recruitment companies would select recruitment and staff provision categories not auditors, electrical or design categories. Choose what your firm does, not what your staff may do.

You then submit your registration application. The Proactis system administrator checks whether anyone else from the same organisation has already registered on the portal. If not, two emails are sent to the prospective supplier. One contains a password and one contains a login. When you log in for the first time, you’ll be prompted to change your password and set up a security question.

Can I browse the list of current opportunities and tenders even if I haven’t registered?

The portal has been set-up so that anybody can browse the database of opportunities, simply click on the Current Opportunities link and you will be presented with the Opportunities Search Screen. 

You can search for opportunities using a number of different parameters: Organisation, Categories or Free text search. The search capability can also filter and return opportunities where you can express an interest. However to express an interest you must register yourself as a user on the portal.  

Do I need to re-register every year? 

Once registered supplier details will remain on the system. Suppliers can maintain and update their own details at any time. If the account hasn’t been active for 12 months, it will be suspended by the portal’s administrators.

Is there a cost involved?

There is no charge for supplier registration. 

Will registration make it more likely that I’ll win some of the bank’s business? 

Registration does not guarantee that you will win any business. By registering on the portal you will be made aware of upcoming tendering opportunities earlier than you would if you remain un-registered. It also allows our staff to search and view supplier details when looking for organisations to invite to quote. 

What if I forget my login or password or both?

Contact Proactis Desk 0330 005 0352 or email suppliersupport@proactis.com.

I am concerned about commercially sensitive information being made public, how secure is the portal?

Only the registered users of your account and our employees will have access to your information uploaded to the portal. (Please note that the Freedom of Information Act may apply to your information.) 

Will I receive paper copies of the tender information?

No, all tender documentation will be available to download from the portal. 

How can I update the company details registered on the portal? 

It is the responsibility of the Supplier to keep their account updated. Should you wish to change any organisation details the registered user can do this by logging in and updated your company details on the portal. 

What happens if the registered user leaves my company, how do we update the details? 

Should you wish to change any company details after the registered user has left your organisation please email the Proactis Help Desk at suppliersupport@proactis.com with the new relevant details. 

Can I have more than one user registered to the portal? 

Yes you can. However it is recommended that a monitored account is used to make sure that absences, annual leave and leavers do not delay you receiving information or missing out on an opportunity. Follow the application process instructions on the portal.

Queries of specific tenders 

If you have completed the Proactis registration and are proactively preparing a tender submission and have any questions on the tender. Please ensure you use the tender clarification function to submit any queries. This ensure that any queries are addressed promptly.

How to contact us

If you have problems registering on our portal, or need to contact our Procurement Group, please email: AskProcurement@bankofengland.co.uk. 
 

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This page was last updated 23 December 2024