Crown Commercial Service: Financial Services

(asked on 26th May 2021) - View Source

Question to the Cabinet Office:

To ask the Chancellor of the Duchy of Lancaster and Minister for the Cabinet Office, whether the Crown Commercial Service will assess in future, as part of its due diligence checks on companies wishing to join the Facilities Management Marketplace, whether they have financial links with supply chain financing providers.


Answered by
Julia Lopez Portrait
Julia Lopez
Minister of State (Department for Digital, Culture, Media and Sport)
This question was answered on 7th June 2021

The Crown Commercial Service (CCS) did not ask companies that are part of its Facilities Management Marketplace whether they have had financial links with (a) Greensill Capital and (b) other supply chain financing providers.

The financial assessment of suppliers who are part of the Facilities Management Marketplace is undertaken using Dun and Bradstreet (D&B) checks, amongst other internal checks. The Facilities Management Marketplace framework has three lots (lots 1a - c) of which each has their own D&B risk threshold that suppliers are required to meet. This is monitored by CCS framework management and commercial finance teams. Where suppliers fall below the minimum D&B credit rating threshold, further investigation is undertaken which may result in a Financial Distress event as per the terms and conditions of the framework.

There is no intention in the future to assess, as part of its due diligence checks on companies wishing to join the Facilities Management Marketplace, whether suppliers have financial links with supply chain financing providers.

This content was generated for your convenience by Parallel Parliament and does not form part of the official record.
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