APPOINTMENT OF SERVICE PROVIDER FOR THE PROVISION OF FOREIGN CURRENCY SERVICE FOR THE IDCClosed

Overview

Procurement of a service provider to supply foreign currency services to the IDC, including forex trading, multi-currency cards, and related corporate travel support. Bidders should be entities with SARB-authorised foreign exchange dealer status, proven corporate forex experience, and capabilities in governance (POPIA), tax compliance, and B-BBEE, for a 3-year engagement supporting IDC Corporate Travel.

Requirements

• SARB authorisation as a Dealer in Foreign Exchange (AD/ADLA) with documentary proof.
• Minimum three references for foreign currency services in the last five years.
• Clear methodology for buying/selling forex, multi-currency cards, order processing, delivery/collection, and control measures.
• Demonstrated geographic branch coverage including IDC office delivery and major airports (hours and locations required).
• Dedicated account manager with CV and monthly consolidated reports.
• Provision of sample reports (e.g., most bought/sold currencies, card activity, quarterly spend).
• Tax compliance status (SARS PIN/TCS) and CSD number as applicable.
• B-BBEE: valid certificate or sworn affidavit (EME/QSE options) and a B-BBEE Commitment Plan.
• POPIA compliance and privacy disclosures.
• Ability to enter into and maintain an SLA; defined service levels.
• Pricing must be for the full 3-year term; include a clear costing model and volumes for evaluation (25 multi-currency cards/month; 50 transactions/month; R500k/month).

How to Apply

• Key dates: enquiries by 27 July 2026; closing date 5 August 2026 at 11:00; bid responses valid for 120 days.
• Submission method: electronic submission via IDC’s dedicated tender inbox / SharePoint link provided in the RFP (no late submissions; use accepted formats).
• Documents to submit (Returnable Schedules): Cover Page; Schedule 1 (Executive Summary); Schedule 2 (Board resolution, IDs, Annexures 2–8); Schedule 3 (Response to Section 2, Annexure 1); Schedule 4 (Price Proposal). Include Annexures 1–8 as specified.
• Pre-qualifications: Central Supplier Database (CSD) registration; tax compliance (SARS PIN/TCS); B-BBEE documentation; POPIA compliance where applicable.
• Briefing: not explicitly stated in the text; venue in metadata listed as 19 Fredman Drive, Sandown (if a briefing is offered, details will be issued by IDC).
• Where to obtain bid documents: full RFP and annexures are in the attached document (T43-07-26 RFP PROVISION OF FOREIGN CURRENCY SERVICES.pdf); additional information may be posted on IDC’s tenders portal.