Decision - Provision of a Cash in Transit and Ancillary Service effective from 10 December 2008

1.     That it be noted that Coin Co International Plc met the evaluation criteria as set out in the evaluation process.

2.     That the ward of contract to Coin Co International Plc for a period of three years, commencing 10 December 2008, be approved, with an option (at the sole discretion of the council), to extend the contract for a further two years.

1.     The council requires an experienced contractor to provide an effective, efficient and flexible cash in transit service working solely alongside the councils and it‘s bankers.

2.     The contractor will ensure the secure transit of cash and cheques from designated council establishments as well as both on and off street parking machines across the city.

3.     It is a recommendation of this contract that if Coin Co International Plc is approved as the council’s preferred contractor all of the council’s income, which is collected by the security carrier, is delivered to the banks bullion centre.  Coin Co International Plc have indicated that this will be achievable.

4.     Assuming that approval of the contract is awarded to Coin Co International Plc the new contract will be for three years commencing on 10^th December 2008, with an option to extend the contract for further two years at the council’s discretion.

1.     The security carrier is responsible for the collection and delivery of cash totalling approximately £24m per annum.  Given the security and insurance risks arising from this no other alternatives are considered viable.