THE FVRA PROCESS
Since February 2022 we have been working to support suppliers meet the Financial Viability and Risk Assessment (FVRA) compliance requirement of government Frameworks' and DPS. We will work with you to ensure a smooth transition on submission of this critical area of the procurement process. Further information on the requirement can be found by clicking below.
HOW WE WORK
FVRA PROCESS
- Discuss the framework or DPS being applied for with your BD team, to identify if it is Gold/Silver/Bronze. Review ratios and thresholds and receive financial information required for completion of FVRA.
- Translate your financial statements onto the FVRA template for lead bidder and if applicable parent and ultimate parent company
- Provide evaluation of the ratios
- Provide mitigation statements for below threshold ratio outcomes
- Review D&B report for any perceived issues
- Liaise with the purchasing authority with requests for further information or clarifications
FVRA OUTCOMES
- The FVRA process has been designed to enable suppliers to present their information so as not to prejudice SME's or start up companies. However information must be entered into the correct boxes to enable the ratios to calculate. This information is viewed in conjunction with the D&B report.
- We cannot guarantee an 'Acceptable' outcome as this will be due to the economic standing of the company. If we review your financial information and conclude that you are likely to be 'Unacceptable' we will make you aware, and provide advice and guidance on how this could be mitigated or what can be done to improve future applications.
WHO WE ARE
- We have over 20 years of bidding for government tenders and grants
- We are a member of the Chartered Institute of Management Accountants (CIMA) and operate under a code of practice.
- We have full experience of the FVRA process across a number of industry sectors.