Estonia24 days leftOpen

Ordering of securities register service for the Ministry of Finance

Tender Overview

LOCATION

Estonia, Estonia

VALUE

€12,070,000

DEADLINE

February 26, 2026 at 11:00

CATEGORY

Services

CPV CODE

66133000-1

REFERENCE

303927

Project Timeline

Contact Information

View Original

Original Tender Description

Hankelepingu esemeks on väärtpaberite emissioonide registreerimine ja sellega seotud toimingute teostamine (sh väärtpaberi arvelduste teostamine) vastavalt väärtpaberite registri pidamise seadusele.
⚠️

MANDATORY EXCLUSION GROUNDS

  • Bidders must meet the exclusion grounds outlined by the contracting authority in the European Single Procurement Document (ESPD).

ELIGIBILITY REQUIREMENTS

  • Bidders must meet the qualification conditions outlined by the contracting authority in the ESPD.
  • Bidders must comply with the legal framework for maintaining the securities register, including Väärtpaberite registri pidamise seaduse (EVKS) § 25 lg 1.
  • Bidders must adhere to the general conditions for the concession agreement.
🔧

TECHNICAL CAPABILITY REQUIREMENTS

  • Bidders must be capable of providing securities registration, account management, and transfer services.
  • Bidders must be capable of providing securities register keeping and related services.
  • Bidders must ensure service continuity until at least the end of 2030.
  • Bidders must comply with the EU General Data Protection Regulation (GDPR) regarding personal data processing.
  • Bidders must adhere to the mutual rights and obligations of the data controller and processor as outlined in the administrative contract annex.
💰

FINANCIAL REQUIREMENTS

  • Bidders must submit an offer that includes the total cost for the four-year period (2027-2030).
  • Bidders must structure the offer cost and fixed cost coefficient.
📋

SUBMISSION REQUIREMENTS

  • Bidders must declare business secrets, if applicable.
  • Bidders must submit a power of attorney for joint bidders, if applicable.
  • Bidders must provide a detailed service description.
  • Bidders must structure the offer cost and fixed cost coefficient as part of the submission.

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PDF
Vastavustingimused
Hanke Tingimused303927_vastavustingimused.pdf11.0 KB
Summary:
This document outlines tender submission requirements, including declaring business secrets, submitting a power of attorney for joint bidders, providing a detailed service description, and structuring the offer cost and fixed cost coefficient.
PDF
Hindamiskriteeriumid ja hinnatavad näitajad
Hindamiskriteeriumid303927_hindamiskriteeriumid.pdf4.6 KB
Summary:
This document describes the evaluation criteria and methodology for the total cost of the offer, assessing the four-year (2027-2030) business revenue for securities registry services, where the lowest price receives maximum points.
PDF
Hankepass täiendatavate selgitustega
Kvalifikatsiooninõuded303927_hankepass_taiendavate_selgitusteg...67.9 KB
Summary:
This document is an explanatory European Single Procurement Document (ESPD) outlining the contracting authority's exclusion grounds and qualification conditions for the securities register service tender, intended for review only and not for submission.
DOC
Andmetöötlusleping
Lepingu MallAndmetöötlusleping.docx41.4 KB
Summary:
This document is an integral annex to the administrative contract, outlining the mutual rights and obligations of the data controller and processor regarding personal data processing in accordance with the EU General Data Protection Regulation.
DOC
Kontsessioonilepingu sõlmimise menetluse kord
Hanke TingimusedKontsessioonilepingu sõlmimise menetluse...34.7 KB
Summary:
This document describes the procedure for concluding a concession agreement for securities registry services, outlining tender submission requirements and general conditions.
DOC
Lepingu projekt
Lepingu MallLepingu projekt.docx55.7 KB
Summary:
This draft contract outlines the terms for maintaining the securities register between the Ministry of Finance and the registrar, detailing the legal framework, rights and obligations of the parties, and the scope of services including securities registration, account management, and transfers.
DOC
Tehniline kirjeldus
Tehnilised SpetsifikatsioonidTehniline kirjeldus 2025.docx74.8 KB
Summary:
This document outlines the technical requirements and scope for procuring securities register keeping and related services for the Ministry of Finance, ensuring service continuity until at least the end of 2030.

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76
Good

Tender Quality Score

This tender for securities register services is well-documented with clear requirements and a transparent evaluation process, but exhibits minor data inconsistencies and lacks explicit sustainability criteria. The highly specialized nature of the service inherently limits competition, which is reflected in the fairness assessment.

Score Breakdown

Legal Compliance75/100

The tender generally complies with procurement regulations, utilizing ESPD and referencing national law for concession agreements. However, the 'Type' and 'Procedure' codes are listed as N/A, and the 'Value Classified: Yes' flag contradicts the disclosed estimated value, indicating minor disclosure inconsistencies.

Type and Procedure codes are N/A.
Contradiction between 'Value Classified: Yes' and disclosed estimated value.
Clarity90/100

The tender description is clear, and requirements are well-documented across multiple attachments, including technical specifications, draft contracts, and evaluation criteria. AI-extracted requirements are comprehensive and easy to understand, ensuring bidders have sufficient information.

Completeness85/100

All essential basic information, deadlines, value, and duration are specified. A comprehensive set of 8 documents is provided, detailing requirements, criteria, and contractual terms. The only minor omission is the exact region for location information.

Exact region for location information is unspecified.
Fairness75/100

The tender offers full document access, discloses the estimated value, and provides a reasonable submission deadline (58 days). Evaluation criteria are objective (lowest price receives maximum points), and e-procurement is enabled. However, the requirement for 'service continuity until at least the end of 2030' and the highly regulated nature of securities register services (EVKS § 25 lg 1) inherently limit the pool of eligible bidders, though this is likely justifiable for such a critical service.

Specific requirement for service continuity until 2030 and the highly regulated nature of the service may significantly limit competition.
Practicality80/100

Electronic submission and e-procurement are supported, enhancing accessibility. The contract duration is clearly specified, and the start date is inferable from the financial requirements (2027-2030). While a direct document URL isn't provided, access is assumed via the e-procurement system.

Data Consistency70/100

Key fields are mostly populated, and dates are logical. However, there's a direct contradiction between 'Value Classified: Yes' and the disclosed estimated value. Additionally, 'Type' and 'Procedure' codes are N/A, and 'Over Sum Limit: No' for a 12M EUR concession is questionable, even with different concession thresholds.

Contradiction between 'Value Classified: Yes' and disclosed estimated value.
Type and Procedure codes are N/A.
Sustainability20/100

The tender does not explicitly include criteria for green procurement, social aspects, or innovation. It is also not indicated as EU funded, which often correlates with higher sustainability standards.

Absence of green procurement criteria.
Lack of social criteria.

Strengths

Comprehensive and clear documentation, including technical specifications and draft contracts.
Transparent and objective evaluation criteria based on lowest price.
Reasonable submission deadline (58 days) and support for e-procurement.
Detailed AI-extracted requirements covering all key aspects.
Service continuity requirement until 2030 ensures long-term stability for a critical service.

Concerns

Contradiction regarding value classification ('Value Classified: Yes' vs. disclosed value).
Lack of explicit sustainability, social, or innovation criteria.
The highly specialized nature of the service and long-term continuity requirement may limit competition.
Minor data inconsistencies in Type/Procedure codes and 'Over Sum Limit' flag.

Recommendations

1. Ensure consistency in data fields, particularly regarding value classification and procedure codes.
2. Consider integrating sustainability, social, and innovation criteria where applicable, even for highly specialized services.
3. Provide clearer justification or context for 'Over Sum Limit: No' for high-value concessions to avoid potential misinterpretation.

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Tender Quality Score
76/ 100 · Good

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