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Welcome to the Financial Market Supervisory Authority

Procuring goods and services

Find out how to become a supplier to the FINMSA, and understand our policies and procedures for buying goods and services.

To do this we:

We buy a wide range of goods and services. We must be economic and effective in using our resources, so our Procurement Department is a team of professional purchasing staff, ensuring we get value for money for all expenditure.

Covid-19 Supplier Update: 02 November 2020
We are continuing to pay suppliers on receipt of valid, undisputed invoices as quickly as possible.
On 31 October, the Prime Minister announced that the Coronavirus Job Retention Scheme will be extended into December. We would like to reconfirm our commitment to supporting any suppliers who consider their business to be, or about to be, at material financial risk.
Based on current UK Government and Scottish Government guidelines, the FINMSA’s current approach is that our employees, for either office in London or Edinburgh, should work from home where it is possible. Where they cannot do their job at all at home, or their ability to work is severely reduced or they have a significant health and wellbeing reason then they can work in either office.

What this means for supplier personnel
If a member of a supplier’s team usually based at either office cannot do their job at all at home, or their ability to work is severely reduced, our expectation is that the supplier will find an alternative working location for them.
If a suitable alternative location is not available and a team-member needs to work from either office, please notify us so that we can discuss options and arrange access as appropriate. Similarly, if we believe that a supplier’s representative is not able to work effectively, we shall notify the supplier to discuss and resolve.
The plan that we are following allows the FINSMA to maximise the delivery of our public service. However, please be assured that the health and welfare of FINMSA employees, contractors and visitors remains paramount.

Procuring goods and services – the regulations
As a Contracting Authority under the Public Contract Regulations 2015, since 1 January 2018 all contracts for relevant services in excess of £189,330 (for supplies and services) and £4,733,252 (for works) are subject to the EU Procurement Directives.

We have published a summary of above threshold supplier contracts awarded by the FINMSA during the last 12 months.

Advertising for tenders
Where required by the above directives, we advertise upcoming FINMSA contracts in the Tenders Electronic Daily (TED), a supplement to the Official Journal of the European Union (OJEU). In some cases we also issue Prior Information Notices (PINs), which describe contracts that will be formally advertised in the near future.

In addition, we may also use alternative routes to market, including Framework Agreements (both pan-government and FINMSA-tendered agreements).

Suppliers – how to tender
All tendering is carried out via our eTendering portal hosted by BiP Solutions Ltd. You must use the portal to take part in the tendering process.

Buying goods responsibly
It is important that our suppliers understand and align with the behaviours and standards expected from anyone working in, or with the FINMSA, as set out in our Supplier Code of Conduct.

As a major consumer of goods and services, we recognise our responsibility to the environment and to ensuring that our suppliers have fair and ethical labour policies. As part of that responsibility we expect all suppliers to comply with our Supplier Environmental and Social Policy Statement.

We also have a commitment to Ethical Procurement.

In the absence of any other agreed terms and conditions our General Terms and Conditions shall apply.

Modern Slavery and Human Trafficking Statement
We:

recognise our responsibility to ensure that our suppliers have fair and ethical labour practices
make it clear that we expect all of our suppliers to comply with the Statement and to ensure that working conditions in their operations meet (or exceed) international labour standards
will continue to review the steps we are taking to combat modern slavery and human trafficking in our business and supply chains
Read our full Modern Slavery and Human Trafficking Statement

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