Award

Provision of Guardianship (Missing Persons) Surety Bonds

MINISTRY OF JUSTICE.

This public procurement record has 2 releases in its history.

AwardUpdate

04 Sep 2019 at 08:07

Award

29 Jul 2019 at 07:56

Summary of the contracting process

The Ministry of Justice is seeking providers for the contract titled "Provision of Guardianship (Missing Persons) Surety Bonds," aimed at offering surety bonds for guardians managing the affairs of missing persons. The procurement stage is complete, with the contract awarded to Marsh Limited, which will utilise an open procurement method over a duration of two years, commencing July 29, 2019, and ending July 28, 2021. The estimated budget for this procurement is £900,000, and the award process concluded on June 26, 2019.

This contract presents significant opportunities for businesses specialising in financial and insurance services, particularly those experienced in providing insurance brokerage and surety insurance services. Small and medium-sized enterprises (SMEs) could find this an advantageous tender to compete for, given the emphasis on local engagement and the complexities surrounding financial products for vulnerable populations. Businesses with the capability to administer and manage surety bonds efficiently will be well-positioned to succeed in this tendering process.

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Notice Title

Provision of Guardianship (Missing Persons) Surety Bonds

Notice Description

The Office of the Public Guardian (OPG) is an executive agency of the Ministry of Justice (MoJ) that supports the Public Guardian in discharging his duties. The OPG has put in place a contract for the provision of surety bonds, also called security bonds, to cover the performance of guardians of missing persons. The aim of the contract is to appoint an insurance broker who will be responsible and accountable for the administration and management of the provision of surety bonds. The broker will be responsible for the procurement exercise to select suitable insurer/ insurers for the provision of surety bonds. The Guardianship (Missing Persons) Act 2017 (the Act) was passed to assist families and others to look after the property and financial affairs of a person who is missing. The Act, which comes into force in July 2019, empowers the High Court to appoint a guardian to take control of the property or financial affairs of a missing person. Guardians will be required to act in the best interests of the missing person and to ensure they are carrying out their duties accordingly. The High Court will make an order appointing a guardian, which will specify whether a surety bond is required. The court will decide on the value of the surety. The surety bond is a guarantee to pay any financial losses arising from the guardian's improper performance or failure to exercise their functions. Guardians will be supervised by the Office of the Public Guardian. The role of the Public Guardian will be similar to his role in the registration and supervision of deputies appointed in respect of persons lacking mental capacity under the Mental Capacity Act 2005. Additional information: The contract will be a services concession contract. The duration is expected to be two years with the option to extend for two periods of one year (2 + 1 + 1) with an expected start date of June 2019. The Contracting Authority intends to use an eTendering system in this procurement exercise and reserves the right to use a reverse auction.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-668667b2-a53b-47a5-9860-c3ec57502d3f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/83bb1e59-8d6d-403f-a9eb-5c4e0c4912db
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66000000 - Financial and insurance services

66100000 - Banking and investment services

66500000 - Insurance and pension services

66510000 - Insurance services

66515410 - Financial loss insurance services

66517200 - Surety insurance services

66518000 - Insurance brokerage and agency services

66518100 - Insurance brokerage services

Notice Value(s)

Tender Value
£900,000 £500K-£1M
Lots Value
Not specified
Awards Value
£900,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
4 Sep 20196 years ago
Submission Deadline
24 May 2019Expired
Future Notice Date
Not specified
Award Date
25 Jun 20196 years ago
Contract Period
28 Jul 2019 - 28 Jul 2021 2-3 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
MINISTRY OF JUSTICE.
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LEEDS
Postcode
LS1 4AP
Post Town
Leeds
Country
England

Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE4 West Yorkshire
Small Region (ITL 3)
TLE42 Leeds
Delivery Location
Not specified

Local Authority
Leeds
Electoral Ward
Hunslet & Riverside
Westminster Constituency
Leeds South

Supplier Information

Number of Suppliers
1
Supplier Name

MARSH

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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