Two Scottish-based firms have been awarded a two-year contract to deliver insolvency services on behalf of Accountant in Bankruptcy (AiB).
Wylie & Bisset, a chartered accountants, and Insolvency Support Services (ISS) have won the contract, which starts on July 1, following a full public procurement exercise. The contract allows for a further two optional one-year extensions at the discretion of AiB.
The AiB said if these two additional extensions are activated, the contract would be expected to deliver around £1.5m in savings to the public purse based on previous contract spend of around £13m.
It has outsourced the administration of bankruptcies to a panel of suppliers since the introduction of a framework contract in 2008. The AiB contracts out an average of 2,500 cases a year where it is the appointed trustee.
Richard Dennis, chief executive of AiB, said: “This is the third contract for insolvency services to be awarded by AiB and, as a result of the competitive nature of the procurement process, we have been able to secure improved fee rates and consequently better value for taxpayers.
“Both suppliers will work across the three regions of Scotland outlined in the tender documents. By appointing two companies to handle insolvency services across the whole of Scotland on our behalf, we will benefit from economies of scale and deliver significant cost savings.