Award

Right to Buy Leaseholder insurance

SOUTH TYNESIDE COUNCIL

This public procurement record has 1 release in its history.

Award

02 Mar 2022 at 15:30

Summary of the contracting process

South Tyneside Council has completed a tender process for the provision of leaseholder insurance under the title "Right to Buy Leaseholder insurance." This contract, classified under financial and insurance services, is valued at £46,453.56 and will run from 1 April 2022 to 31 March 2027. The procurement method used was selective, involving a call-off from a framework agreement. The tender process was formally closed on 20 December 2021, prior to the contract award date of 18 February 2022, and the award notice was published on 2 March 2022. The insurance will cover properties in the North East of England, specifically flats and maisonettes sold under the Right to Buy legislation.

This tender presents an opportunity for insurance companies, particularly small and medium-sized enterprises (SMEs) with the capacity to provide property insurance services, to engage with local authorities. Firms with experience in leaseholder or property insurance could find this contract suitable, given the specific requirements of covering freehold properties and service charge arrangements. This contract not only offers financial benefits through a substantial value but also positions successful bidders as trusted providers within the local government landscape, potentially leading to further contracts.

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Notice Title

Right to Buy Leaseholder insurance

Notice Description

Provision of property insurance in respect of private dwellings sold on a leasehold basis; the majority of these were under the Right To Buy (RTB) legislation. The dwellings are flats in blocks and flats in houses (maisonettes) where the Council still retain the freehold ownership and the leases state that the Council, as the Freeholder will arrange the buildings insurance on behalf of the Leaseholder and recharge the premium as part of the Service Charge

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-6ae40a22-48bd-489e-84fe-e010f79a9eca
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/e86d1174-d2b1-4875-b790-17a562d1d0d0
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£46,453 Under £100K
Lots Value
Not specified
Awards Value
£232,267 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
2 Mar 20223 years ago
Submission Deadline
20 Dec 2021Expired
Future Notice Date
Not specified
Award Date
18 Feb 20224 years ago
Contract Period
31 Mar 2022 - 31 Mar 2027 Over 5 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
SOUTH TYNESIDE COUNCIL
Contact Name
Shona Mac Daid
Contact Email
shona.macdaid@southtyneside.gov.uk
Contact Phone
07436283839

Buyer Location

Locality
SOUTH SHIELDS
Postcode
NE33 2RL
Post Town
Newcastle upon Tyne
Country
England

Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC4 Northumberland, Durham and Tyne & Wear
Small Region (ITL 3)
TLC43 Tyneside
Delivery Location
TLC North East (England)

Local Authority
South Tyneside
Electoral Ward
Beacon and Bents
Westminster Constituency
South Shields

Supplier Information

Number of Suppliers
1
Supplier Name

AVID INSURANCE SERVICES

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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