Award

Global Custodian Services for Isle of Wight Council Pension Fund

ISLE OF WIGHT COUNCIL

This public procurement record has 1 release in its history.

Award

30 Sep 2022 at 13:39

Summary of the contracting process

The Isle of Wight Council has recently awarded a contract for Global Custodian Services, as part of their Pension Fund management. The contract period is from 1st September 2022 until 31st July 2026, with possible extensions up to 5 years. The total contract value is £160,000, and the procurement method used was 'Other'. The tender process concluded on 19th July 2022, and the contracting organisation is the Isle of Wight Council, located at County Hall, High Street, Newport, United Kingdom.

This tender presents opportunities for service providers in the pension services industry, especially those offering global custodian services. Small and medium-sized enterprises (SMEs) with expertise in pension fund management may find this tender suitable for engaging with the Isle of Wight Council. Businesses looking to expand their services to public sector clients and have the capacity to handle long-term contracts should consider exploring this awarded opportunity.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Notice Title

Global Custodian Services for Isle of Wight Council Pension Fund

Notice Description

Global Custodian Services for Isle of Wight Council Pension Fund ( Call-off via a Further Competition under the Global Custody Services Framework Agreement (NCCT42038)). Additional information: The contract is from 1 September 2022 until 31 July 2026 with the option to extend for further periods of up to 5 years on the basis of 3 years plus up to a further 2 years. Any values given are estimated and for the whole contract period including any extension period.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-1caeca0b-0afd-4449-ae4d-fc5efbfc31bd
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1475587c-b6fd-4c37-84bb-1128a6fdef7a
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66520000 - Pension services

Notice Value(s)

Tender Value
£160,000 £100K-£500K
Lots Value
Not specified
Awards Value
£160,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
30 Sep 20223 years ago
Submission Deadline
19 Jul 2022Expired
Future Notice Date
Not specified
Award Date
15 Aug 20223 years ago
Contract Period
31 Aug 2022 - 31 Jul 2026 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
ISLE OF WIGHT COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NEWPORT
Postcode
PO30 1UD
Post Town
Portsmouth
Country
England

Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ3 Hampshire and Isle of Wight
Small Region (ITL 3)
TLJ34 Isle of Wight
Delivery Location
TLJ South East (England)

Local Authority
Isle of Wight
Electoral Ward
Newport Central
Westminster Constituency
Isle of Wight West

Supplier Information

Number of Suppliers
1
Supplier Name

NORTHERN TRUST

Further Information

Notice Documents

Notice URLs

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-b5fd17-1caeca0b-0afd-4449-ae4d-fc5efbfc31bd-2022-09-30T14:39:14+01:00",
    "date": "2022-09-30T14:39:14+01:00",
    "ocid": "ocds-b5fd17-1caeca0b-0afd-4449-ae4d-fc5efbfc31bd",
    "language": "en",
    "initiationType": "tender",
    "tender": {
        "id": "IOW001-DN618557-55611925",
        "title": "Global Custodian Services for Isle of Wight Council Pension Fund",
        "description": "Global Custodian Services for Isle of Wight Council Pension Fund ( Call-off via a Further Competition under the Global Custody Services Framework Agreement (NCCT42038)). Additional information: The contract is from 1 September 2022 until 31 July 2026 with the option to extend for further periods of up to 5 years on the basis of 3 years plus up to a further 2 years. Any values given are estimated and for the whole contract period including any extension period.",
        "status": "complete",
        "classification": {
            "scheme": "CPV",
            "id": "66520000",
            "description": "Pension services"
        },
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "region": "South East",
                        "countryName": "United Kingdom"
                    }
                ]
            }
        ],
        "value": {
            "amount": 160000,
            "currency": "GBP"
        },
        "procurementMethodDetails": "Other -",
        "tenderPeriod": {
            "endDate": "2022-07-19T14:00:00+01:00"
        },
        "contractPeriod": {
            "startDate": "2022-11-01T00:00:00Z",
            "endDate": "2026-07-31T23:59:59+01:00"
        },
        "suitability": {
            "sme": true,
            "vcse": false
        },
        "mainProcurementCategory": "services"
    },
    "parties": [
        {
            "id": "GB-CFS-49305",
            "name": "Isle of Wight Council",
            "identifier": {
                "legalName": "Isle of Wight Council"
            },
            "address": {
                "streetAddress": "County Hall, High Street",
                "locality": "Newport",
                "postalCode": "PO30 1UD",
                "countryName": "United Kingdom"
            },
            "contactPoint": {
                "name": "Vanessa Squibb",
                "email": "vanessa.squibb@iow.gov.uk",
                "telephone": "+44 1983821000"
            },
            "details": {
                "url": "http://www.iwight.com"
            },
            "roles": [
                "buyer"
            ]
        },
        {
            "id": "GB-CFS-220898",
            "name": "Northern Trust Corporation",
            "identifier": {
                "legalName": "Northern Trust Corporation"
            },
            "address": {
                "streetAddress": "50 Bank Street, Canary Wharf, London, E14 5NT"
            },
            "details": {
                "scale": "large",
                "vcse": false
            },
            "roles": [
                "supplier"
            ]
        }
    ],
    "buyer": {
        "id": "GB-CFS-49305",
        "name": "Isle of Wight Council"
    },
    "awards": [
        {
            "id": "ocds-b5fd17-1caeca0b-0afd-4449-ae4d-fc5efbfc31bd-1",
            "status": "active",
            "date": "2022-08-16T00:00:00+01:00",
            "datePublished": "2022-09-30T14:39:14+01:00",
            "value": {
                "amount": 160000,
                "currency": "GBP"
            },
            "suppliers": [
                {
                    "id": "GB-CFS-220898",
                    "name": "Northern Trust Corporation"
                }
            ],
            "contractPeriod": {
                "startDate": "2022-09-01T00:00:00+01:00",
                "endDate": "2026-07-31T23:59:59+01:00"
            },
            "description": "Values given are estimated and for whole contract duration including any extension periods.",
            "documents": [
                {
                    "id": "1",
                    "documentType": "awardNotice",
                    "description": "Awarded contract notice on Contracts Finder",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/1475587c-b6fd-4c37-84bb-1128a6fdef7a",
                    "datePublished": "2022-09-30T14:39:14+01:00",
                    "format": "text/html",
                    "language": "en"
                }
            ]
        }
    ]
}