Source: https://tendernation.io/opportunities/01a13c8b-7096-73aa-87de-ae01826ed3cc/ukef-corporate-loss-given-default-lgd-model-for-ifrs-9-expression-of-interes pending GB open procedure Suitable for SMEs # UKEF Corporate Loss Given Default (LGD) Model for IFRS 9 - Expression of Interest (EOI) [Department for International Trade](https://tendernation.io/buyers/department-for-international-trade) Estimated value Not stated Published 22 Dec 2022 Deadline Rolling deadline ## Who can bid - Buyer says suitable for SMEs The buyer ticked “suitable for SMEs” on the notice. Anyone can still bid. - Open procedure Anyone can submit a full tender; there is no shortlisting stage. [More contracts for small businesses and VCSEs](https://tendernation.io/opportunities/for-small-businesses) ## About this tender UK Export Finance ("UKEF") is inviting expressions of interest from organisations that would be interested in delivering a loss given default ("LGD") model ("the Contract") in compliance with the International Financial Reporting Standards 9 ("IFRS 9") to the Contracting Authority. The LGD model will need to be operational from 1 April 2023. The Supplier will provide a model that allows UKEF to estimate LGDs for corporate obligors under different macroeconomic scenarios (the Supplier does not need to provide the macroeconomic forecasts that will underpin the scenarios - the scenarios will be procured separately) in order to make the measurement of Expected Credit Losses ("ECL"), compliant with the IFRS 9 standard. This is a new requirement. It is a key requirement for the procurement that the LGD model will be IFRS 9 compliant, so the supplier will be required to demonstrate that the LGD model is "tried and tested" (i.e. already in use by organisations who are IFRS 9 compliant and/or reviewed by auditors). UKEF uses an LGD methodology whereby estimates of Enterprise Values ("EV") are utilised in order to generate an estimate of a corporate obligor's LGD using a "liabilities waterfall" approach (under a base scenario). The IFRS 9 corporate LGD model is required to work within UKEF's current process and not require changes to UKEF's estimates of LGDs under the base scenario. ### Eligibility This process is open to any organisation that can meet our requirements, which are as follows: - The model is shown to be compliant with IFRS 9 (i.e. used by organisations that currently comply with IFRS 9 and/or tested by auditors). - The model can be delivered in a fully operational state by 1st April 2023. - The model integrates with existing UKEF LGD modelling approach, as outlined above. This Expression of Interest is not a commitment to buy and DIT reserves the right not to proceed with this procurement. For further information on the requirement, please see attached the document titled Requirements\_DRAFT-UKEF\_LGD\_Model which is the draft high level requirements for this opportunity. Interested parties should email their expression of interest to by 17.00 hours Thursday 12th January 2023. Read full description ## CPV classification Research and development services and related consultancy services Source Contracts Finder (UK) [View official notice](https://www.contractsfinder.service.gov.uk/notice/26df2780-6457-4d4c-b0f1-a5167706f393) Never miss a tender like this again Get AI summaries, deadline alerts and a bid pipeline for tenders matched to your business. Free to start. 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