AWARD OUTCOME
What happened
The City of London awarded a direct, below-threshold services contract to DELOITTE LLP for Billingsgate negotiations and heads of terms for a collaboration agreement.
Published outcomeOne active award and one active contract are reported for DELOITTE LLP. The contract was signed on 9 August 2026 and runs from 10 August to 31 December 2026.
Market significanceThe published contract value is £60,000 gross. The notice description refers to an initial negotiation budget of up to £50,000 and a possible overall maximum of £100,000, so those figures should not be treated as the final contract value.
AWARDED SUPPLIERS AND LOTS
1 supplier record analysed
DELOITTE LLP
99% confidenceAward 1 · Lots 1 · £60,000 gross (contract-level value; sole supplier and sole contract reported) GBP · Verified supplier; active award and contract
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Award 1 names Deloitte LLP as sole supplier. Supplier verification provides verified company name DELOITTE LLP and company number OC303675. Contract 1, linked to Award 1, reports £60,000 gross.
LIFECYCLE
Award or contract stage
Procurement status
99% confidenceComplete
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Tender status is recorded as "complete".
Award status
99% confidenceActive
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Award 1 status is "active".
Contract status
99% confidenceActive
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Contract 1 status is "active".
Contract signature
99% confidenceSigned on 9 August 2026
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Contract 1 provides dateSigned: 2026-08-09.
Contract period
99% confidence10 August 2026 to 31 December 2026
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Contract 1 period specifies startDate 2026-08-10 and endDate 2026-12-31.
VALUES
Published values explained
Published contract value
99% confidence£60,000 gross
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Contract 1 value is amountGross 60000, currency GBP.
Initial negotiation budget described
96% confidenceUp to £50,000
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The notice description states a proposed budget of up to £10,000 per month from August to December 2026, estimated at up to £50,000.
Potential maximum described
96% confidenceUp to £100,000
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The notice description says the value may increase, subject to an overall maximum of £100,000.
TIMELINE
Procurement timeline
Contract signed
99% confidence9 August 2026
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Contract 1 dateSigned is 2026-08-09.
Contract start
99% confidence10 August 2026
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Contract 1 period startDate is 2026-08-10.
Contract end
99% confidence31 December 2026
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Contract 1 period endDate is 2026-12-31.
Contract details notice published
99% confidence14 October 2026
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The UK7 contract details notice was published at 2026-10-14T17:11:48+01:00.
SCOPE
What was awarded
Requirement
99% confidenceBillingsgate LBTH negotiations and heads of terms for a collaboration agreement
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This is the published procurement title.
Procurement category
99% confidenceServices
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Award 1 mainProcurementCategory is "services".
Classification
99% confidenceCPV 66152000 — Financial market regulatory services
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Award item 1 includes this CPV classification.
Lot structure
99% confidenceOne lot reported; no lot title or description supplied
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Tender lot 1 is complete and Award 1 relates to lot 1; its title and description are null.
PROCEDURE
Procedure and competition
Procurement method
99% confidenceDirect procurement
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Tender procurementMethod is "direct".
Method detail
99% confidenceBelow threshold — without competition
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Tender procurementMethodDetails states "Below threshold - without competition".
Competition information
99% confidenceNo bid count, bidder list, evaluation results or award rationale supplied
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No such fields are present in the supplied notice data.
CONTRACT TERMS
Published contract terms
Contract period
99% confidence10 August 2026 to 31 December 2026
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Contract 1 period provides these dates.
Extensions or options
95% confidenceNot expressly specified
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The notice description mentions possible value growth up to £100,000, but does not set out an extension or option mechanism.
Threshold status
99% confidenceBelow threshold
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Contract 1 aboveThreshold is false.
COMMERCIAL VIEW
Commercial observations
Value structure
97% confidenceThe £60,000 gross contract value sits between the stated initial budget of up to £50,000 and the described potential maximum of £100,000.
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Contract 1 reports £60,000 gross; the notice description gives the £50,000 initial estimate and £100,000 overall maximum.
Commercial route
99% confidenceThe engagement was procured directly without competition under a below-threshold route.
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The procurement method details state "Below threshold - without competition".
DATA QUALITY
Gaps and source limitations
Value interpretation
99% confidenceMultiple value figures are published. £60,000 gross is the contract value; £50,000 and £100,000 are narrative budget and maximum figures, respectively.
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Contract 1 contains £60,000 gross, while the description contains the other figures.
Lot detail
99% confidenceLot 1 has no published title, description or individual value.
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Lot 1 title, description and value fields are null.
Competition and evaluation
99% confidenceInformation not supplied in the published notice.
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No bid count, bidder identities, scores, evaluation detail or award rationale is included.
SOURCE DATA LIMITATIONS
Information not supplied in the published notice
- The published notice contains different commercial figures: a £60,000 gross contract value, an initial estimate of up to £50,000, and a possible overall maximum of £100,000. They are reported separately because their relationship is not fully explained.
- Information not supplied in the published notice: bid count, competing suppliers, evaluation criteria or results, award rationale, pricing breakdown and savings.
- Lot 1 has no published title, description or individual lot value.
- No express extension, renewal or option terms are published.
MARKET THEMES
Relevant award themes
DELOITTE LLPCity of LondonBillingsgatecollaboration agreementdirect procurementcontract award£60,000
COMMON QUESTIONS
About this award
Who received the Billingsgate negotiations contract?
DELOITTE LLP, verified against company number OC303675.
What is the published contract value?
£60,000 gross. The notice separately describes an initial budget of up to £50,000 and a possible overall maximum of £100,000.
When does the contract run?
From 10 August 2026 to 31 December 2026; it was signed on 9 August 2026.
Was the contract competitively tendered?
The notice records a direct, below-threshold procurement without competition.
ProcuraAxis award analysis supplements, but does not replace, the official award notice, contract data or procurement documents. “Awarded” does not by itself prove that a contract has been signed.