# Investments Account Bank

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [Homes England \(the name adopted by the Homes and Communities Agency\)](/buyers/homes-england-the-name-adopted-by-the-homes-and-communities-agency/contract-awards)
- Contract winner: The Royal Bank of Scotland
- Award value: £1,000,000
- Tender value: £1,200,000
- Award date: 11 December 2018
- Published: 11 December 2018
- Contract start: 25 December 2018
- Contract end: 1 January 2023
- Stage: awarded
- Procurement category: services
- Notice ID: 3c2eaf23-6816-46c2-a925-3223826dce70-258494
- OCID: ocds-b5fd17-e55ff93c-da20-4f51-98ce-3428cf011074

## Description

As security for our investments placed with borrowing entities, our borrowers are required to secure to us the bank account through which they receive and recycle sales proceeds on their development\. The accounts are secured to us through a fixed charge and assignment, most often through a debenture over all company books and assets\. The accounts are opened by our borrowers \(in their own name\) but are to be operated on a joint signatory basis between Homes England and the borrower, in the absence of any enforcement action\. A notice of charge and assignment is served by the borrower upon the bank, and requires acknowledgement to Homes England and the borrower of the content within - notably signatory requirements and waiver of any right of set-off over the account\. We require a framework of banks whom our borrowers can approach in order to receive this service in a consistent manner\. Please log into ProContract to download the documents which contain further details\.

## Related contract awards

- [Homes England - Strategic Research, Evaluation and Economics Framework - Evaluation of the Design for Manufacture Competition](/contracts/ocds-b5fd17-dd61a609-f943-447d-83f6-c6c4f8e4dc0a): Homes England \(the name adopted by the Homes and Communities Agency\)
- [National Housing Bank Ltd - Solicitor - Development Loan - Oswestry](/contracts/ocds-b5fd17-35129ae6-8b7f-49da-8bc2-a3c0e289f68f): Homes England \(the name adopted by the Homes and Communities Agency\)
- [National Housing Bank - Property - Debt Finance, Product Development](/contracts/ocds-b5fd17-efeb5ff9-de28-477e-9b7b-b1df26f834b1): Homes England \(the name adopted by the Homes and Communities Agency\)
- [Corporate Charge Card](/contracts/ocds-b5fd17-11fada95-ced0-4ff7-a40f-4530ac138d0e): OFSTED
- [FCDO Payment Card Cluster](/contracts/ocds-b5fd17-27a1fff4-668a-4f3b-b5e2-62703d8abd6b): Foreign Commonwealth and Development Office
- [Banking Services](/contracts/ocds-b5fd17-1585a894-26eb-44e8-b3cf-a5d3bab9c366): Sunderland City Council

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/3c2eaf23-6816-46c2-a925-3223826dce70-258494)