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Invitation to tender for the provision of legal services to Grenada Development Bank

About Grenada Development Bank

The Grenada Development Bank (GDB) is fully owned by the Government of Grenada. The Bank has been in operation for over 57 years providing funding to various sectors of the local economy. The primary purpose of the GDB is to aid in the development of the critical sectors of the economy by providing funding and other financial services to corporations and individuals, in accordance with the Government’s vision and articulated strategic direction. The Bank prioritises funding for Human resource development via Education loans, low- and middle-income housing and loans to the productive sectors with special emphasis on Micro, Small and Medium-sized Enterprises (MSMEs). The Bank is authorised to act generally as agent for the Government where it can do so appropriately and, in a manner, not inconsistent with its functions.

The GDB, mindful of its responsibility as the only government owned development financial institution locally, constantly seeks ways to meet the needs of its constituents in a cost-effective sustainable manner. Critical to this is the ability to readily access legal services inclusive of Legal counsel and representation for the Bank including but not limited to the preparation of Mortgages and other legal documents on behalf of the Bank and its customers. The engagement of legal counsel is therefore an integral part of the Bank’s operations and more specifically its Credit functions.

Of critical concern to the Bank is the high cost of legal services which inevitability increases the borrowing cost to our customers. Our customers are for the most part low-income individuals, marginal businesses, and generally borrowers that can ill afford the cost of borrowing hence it is imperative that we take appropriate measures to ensure that our loans remain affordable to our targeted segment of the market.

In addition to cost, turnaround time is of critical importance in the delivery of our service to ensure that our interventions are timely and yield the desired results.

Mindful of the foregoing, the Bank is endeavouring to assess interested Legal service providers with the aim of arriving at a cadre of Legal firms that can more adequately meet the Bank’s needs in a cost-efficient and timely manner.

Services required:
• Provision of general legal advice and guidance to the bank in its dealings with borrowers, service providers and the public in general
• Preparation and or review of contracts, sale agreements and other legal documents on behalf of the bank
• Conduct and report on investigations into title and other searches as may be necessary from time to time to determine the marketability of the security offered
• Prepare Legal Mortgages, Debentures, etc. to collateralise loans and other advances to customers of the bank.
• Institute legal proceedings on behalf of the bank in the process of recovering bank funds.
• Undertaking due diligence of individuals and companies with whom the bank intends to engage.

All tenders must be submitted to the Bank by March 31, 2023 with the subject clearly stated as ‘Invitation to Tender Legal Bid’.

Tenders can be submitted in the following ways: hand delivered, post, or emailed to the following address:

The Manager

Grenada Development Bank

P.O Box 2300

Melville Street

St. George’s


Email address: gdbbank@spiceisle.com

1. All bids must be accompanied by the firm/individual profile inclusive of relevant experience in mortgages, litigation and overall co-operate legal works

2. Tenders must be signed by the tenderer or an authorised representative

3. Tenders must include a costing sheet outlining fees (or range) which must be perfectly

legible to avoid any doubt about terms and/or figures included

4. The tender dossier should be clear to avoid tenderers having to request additional

information during the selection process

5. This invitation to tender does not constitute any contractual obligation with the bidder to the Grenada Development Bank. The Bank’s obligation commences upon the signing of a contract with the successful tenderer.

For any further information kindly contact the Grenada Development Bank during the opening hours of Monday to Friday 8:00am to 4:00pm on the following numbers 440-1620 or 440-2382.