Tender

BT1726 Insurance for 19 Shared Ownership Properties

LUTON COUNCIL

This public procurement record has 2 releases in its history.

Tender

20 Aug 2024 at 10:54

Tender Notice
Tender

20 Aug 2024 at 10:43

Tender Notice
Summary of the contracting process

Luton Council is seeking a reputable provider for buildings insurance for 19 shared ownership mortgaged properties within the borough of Luton. The procurement, valued at £30,000, falls under the "Financial and insurance services" category (CPV 66000000). This statutory and preventative service requires compliance with the Financial Services and Markets Act 2000 and rules made by the PRA and the FCA. The procurement method is an open procedure (below threshold), and businesses interested need to submit their applications before 30 September 2024. The contract period will commence on 1 April 2025 and conclude on 31 March 2028, with the requirement for the insurer to provide new costings to mortgagees at least three months in advance of the renewal date.

This tender presents significant opportunities for insurance companies capable of offering comprehensive buildings insurance cover without accidental damage. Small and medium-sized enterprises (SMEs) as well as voluntary, community and social enterprises (VCSEs) are encouraged to participate. The successful bidder will need to provide a direct debit payment facility, ensuring a straightforward payment process for customers. Securing this contract will allow the winning business to solidify its presence in the public sector and expand its service offerings within the Luton area, potentially leading to further contracts with Luton Council and similar public entities.

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Notice Information

Notice Title

BT1726 Insurance for 19 Shared Ownership Properties

Notice Description

Luton Council require buildings insurance for 19 shared ownership mortgaged properties within the borough of Luton. This a statutory and preventative service and this a standalone requirement. The Council have a requirement to provide a discounted buildings insurance to shared owners which is then recharged to the mortgagee by Council. The key outcome is the building insurer needs to be reputable, must comply with the Financial Services and Markets Act 2000 as well as the rules made by the PRA and the FCA. The mortgagees need to be advised of the new costings giving at least 3 months' notice and the renewal date is 01 April 2025. The Provider must be able to provide: * Buildings insurance cover (accidental damage not required) * Payments facility to pay by direct debit ALL DOCUMENTS ARE AVAILABLE ON THE PROCONTRACT (PROACTIS ETENDERING PORTAL)

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1379549a-a97d-46b8-8efd-83f783b6048f
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£30,000 Under £100K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
20 Aug 20241 years ago
Submission Deadline
30 Sep 2024Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2025 - 31 Mar 2028 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LUTON COUNCIL
Contact Name
Caroline Sturman
Contact Email
caroline.sturman@luton.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LUTON
Postcode
LU1 2BQ
Post Town
Luton
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH2 Bedfordshire and Hertfordshire
Small Region (ITL 3)
TLH21 Luton
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Luton
Electoral Ward
Central
Westminster Constituency
Luton South and South Bedfordshire

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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. 

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