St Edmundsbury Borough Council, Forest Heath District Council, Ipswich Borough Council, Babergh District Council, and Mid Suffolk District Council, (together referred to as the Councils), are undertaking a review of their current banking arrangements (the Services) and through this Invitation to Tender are inviting potential service providers to tender for new contracts to commence from 1.4.2014. St Edmundsbury Borough Council is leading the tender on behalf of the other participating councils (the Lead Authority). Contract duration will be for an initial period of 5 years, with the option to renew up to 2 further years, subject to agreement. The tender is offered as a single Lot and the Councils expect to implement a transactional banking processing and reporting model that is common to each Council but recognising that some minor variations will be required to suit certain individual Council requirements. Separate contracts will be required, however, between each Council and the preferred tenderer.