Banknote supply and services contract.

Descriptions

The contracting authority is responsible for ensuring security and continuity of the supply of high quality banknotes. On 13 October, the authority entered into a contract for the supply of banknotes to be printed throughout the term of the contract at its premises at Debden in Essex, initially using the existing equipment currently located there. The site is a high security environment and all individuals working on site must be security cleared. The supplier will manage all aspects of banknote production from sourcing many of the banknote components through to single note inspection of finished banknotes. The authority places significant importance on the supplier meeting the technical specifications for the banknotes and implementing robust quality management and security processes. The contract provides for the introduction of new banknote designs during the course of the contract. The supplier is required to ensure that the printing machinery at the Debden premises continues to be fit for purpose throughout the term of the contract. This will involve the replacement and/or refurbishment of most of the printing machinery at an early stage of the contract. The supplier will also be expected to maintain the machinery through the lifetime of the contract. The contract also includes facilities maintenance and other property related services required at the Debden premises.The authority continues to review new security features, including the potential for alternative banknote substrates. The supplier will need to accommodate any change of features or substrate that might be required at any stage from the start of the contract.In contingency scenarios, where the Debden site becomes inoperable, the authority may require its banknotes to be printed at the supplier's own printing works or an alternative site approved by the authority.The contract provides for an initial transition period of 6 months followed by 119 months of banknote production with an option for the authority to extend for a further 36 months. The banknote production phase will commence in April 2015.