The FCA is setting up a Framework Agreement for debt collection services for a 4-year period. The suppliers will form part of the FCA's debt collection process where it has exhausted all of the options available.

The FCA has awarded contracts to 3 suppliers.

The aim of this service is to ensure:

— cost effective, efficient and timely collection of fines and fees,

— that the maximum amount of debt is recovered, and

— accurate accounting for and reporting on performance.

As set out in II.1.4) above