1 September 2021
The Finance & Leasing Association (FLA) has welcomed the launch of Crown Commercial Service’s (CCS) new Leasing and Loans Finance Dynamic Purchasing System – the objective of which is to simplify the leasing process for public sector customers and asset finance providers.
The Leasing and Loans Finance DPS (Dynamic Purchasing System) will act as a funding platform providing buyers across the entire public sector with access to a range of lenders who fund different assets.
The FLA and its members have been involved in discussions with CCS since the inception of the new system, and the end result offers a large degree of flexibility – lenders can choose which area of the public sector to fund, the funding option, the asset class and asset value.
In addition, CCS’ Strategic Account Managers will be working with public sector customers to build awareness of the new system and explain how it can support their organisations’ requirements.
Simon Goldie, Director of Business Finance at the FLA, said:
“We will obviously need to see how the system operates in practice, but this looks like a very useful tool for both public sector customers and lenders.
“CCS have been very focused throughout on finding a good solution. They took the time to talk to the experts and are now actively promoting the system within the public sector. This bodes well for the future success of the DPS.”
Crown Commercial Service (CCS) supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2020/21 CCS helped the public sector to achieve commercial benefits equal to £2.04bn - supporting world-class public services that offer best value for taxpayers.
Members who would like more information on the Commercial Service’s (CCS) new Leasing and Loans Finance Dynamic Purchasing System can find the information here.
Note to editors:
- The Crown Commercial Service’s (CCS) new Leasing and Loans Finance Dynamic Purchasing System can be found here: Dynamic Purchasing System Marketplace - Supplier Registration Service (cabinetoffice.gov.uk)
- Crown Commercial Service (CCS) supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2020/21 CCS helped the public sector to achieve commercial benefits equal to £2.04bn - supporting world-class public services that offer best value for taxpayers.
- The Finance & Leasing Association is the leading trade body for the asset, consumer and motor finance sectors in the UK. Our members include banks, subsidiaries of banks and building societies, the finance arms of leading retailers and manufacturing companies, and a range of independent firms.
- In 2020, FLA members provided £113 billion of new finance to UK businesses and households. £86 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2020. £27 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2020.
- For media enquiries, please contact the FLA press office on 020 7420 9656.