Jurisdiction(s):
United Kingdom

Key definition

Advising definition

What does Advising mean? Advising, in financial services practice, means giving a client (or their agent) a recommendation on the merits of buying, selling, subscribing for, underwriting or exercising rights in a specific investment. In the UK (England & Wales, Scotland and Northern Ireland), this is the regulated activity of advising on investments under article 53 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. It captures advice given to a person as an investor or potential investor, or as agent for one, about a particular investment. Firms must be authorised or exempt, and the activity engages...

UK private sector invitations to tender: legal drafting, procurement process design, evaluation criteria and contract terms guidance

Published by a LexisNexis Commercial expert

Practice notes

This Practice Note

This Practice Note offers practical, hands-on guidance for drafting and advising on an invitation to tender within a private commercial procurement setting. It addresses, among other matters, preparation and planning, confidentiality and intellectual property, overall approach, alternative techniques, legal status, principal issues, drafting points, contractual terms and conditions, evaluation criteria, stakeholder management and cross-border considerations relevant to such procurements.

Organisations issue an invitation to tender (ITT) (also known as a request for proposal (RFP)) when they intend to solicit and duly assess a tender (or proposal) from two or more third party suppliers of defined goods or services (or a mix of both) and, thereafter, to enter into a contract with the supplier most capable of consistently delivering those goods or services at a competitive price.

This Practice Note is designed for general commercial practitioners advising business customers on procuring a wide range of commercial arrangements from third party suppliers, including the following:

the supply of goods
IT services, for example application development and maintenance
outsourcing of IT or business processes
telecommunication network services
facilities management services
warehousing, distribution and logistics services
contract manufacturing services

It does not address procurement in the context of a construction project...

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Tim Wright

Fladgate

Tim Wright is a partner in the corporate department at Fladgate.He specialises in commercial, outsourcing and technology transactions across various sectors such as banking, insurance, healthcare and technology. Services include outsourcing, cloud computing, digital platforms and e-commerce, web development and hosting, software development and licensing, system integration projects, business transformation and digital projects, joint ventures, artificial intelligence and robotic process automation contracts, and wide-ranging procurement, commercial contracts and privacy issues. Tim has acted for a number of pharmaceutical, banking and insurance companies, including GlaxoSmithKline, Dr. Reddy’s Laboratories, Sumitomo Dainippon Pharma, UBS, BNP Paribas, Cooperative Financial Services, Old Mutual, RSA, Phoenix Life, AXIS Capital, UBS and Goldman Sachs, as well as service providers such as Aon Hewitt, HCL Insurance, Storm Technologies, Company Watch and DST Systems, delivering a broad range of outsourcing and technology deals including information technology, facilities management, pensions...

Web page updated on 22/05/2026

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