Request for Proposal Information Systems Design, Supply, Installation, and Support of an Instant Payments System

Purchaser:          The Central Bank of Barbados

Project:                Barbados’ Payments System Modernisation Project 

Contract title:    Implementation of an Instant Payments System 

Country:              Barbados

RFP No:                IPS 01/2025

Issued on:           January 31, 2025

1. The Central Bank of Barbados has allocated the necessary funds and intends to finance the cost of Barbados’ Payments System Modernisation Project.
2. The Central Bank of Barbados now invites Proposals from eligible Proposers to design, supply, implement, and support an Instant Payments System in Barbados, within eighteen (18) months.
3. The procurement will be conducted through an internationally competitive procurement process using a Request for Proposals (RFP), as specified in the Central Bank of Barbados “Procurement Policy Guidelines” (March 27, 2023).
4. Interested Proposers may obtain the RFP document by emailing the Central Bank of Barbados using the subject line “Expression of Interest” at: IPSEvaluation@centralbank.org.bb
5. The email address IPSEvaluation@centralbank.org.bb  may also be used to obtain any further information.
6. Proposers are required to formulate a comprehensive proposal in accordance with the Instructions to Proposers in the RFP document. Proposals are to be submitted by email to the Chairman, Tenders Committee using the following email address: tenders.chair.ips@centralbank.org.bb

The Chairman

Tenders Committee

Central Bank of Barbados

Tom Adams Financial Centre

 P.O. Box 1016

Bridgetown

St. Michael

BARBADOS

7. Proposals are to be submitted on or before March 17, 2025 at 4:00PM EST. Late Proposals will be rejected.

8. All Proposals must be accompanied by a “Proposal Security” of twenty-five thousand United States dollars (US$25,000), payable to the Central Bank of Barbados.

9. Attention is drawn to the necessity to disclose information on the successful Proposer’s beneficial ownership as part of the Contract Award Notice, using the Beneficial Ownership Disclosure Form as included in the RFP document.