Award

Legal Services Framework Agreement

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 3 releases in its history.

Award

27 Sep 2024 at 16:04

TenderAmendment

01 May 2024 at 08:09

Tender

04 Apr 2024 at 12:43

Summary of the contracting process

The Financial Reporting Council (FRC), based in London, has awarded a Legal Services Framework Agreement worth £2.29 million. The FRC is an independent regulator that upholds high standards of corporate governance, reporting, and auditing in the UK. This contract, which involved an open procurement method above the threshold, saw its award completion on 27th September 2024. The awarded contract period spans from 1st October 2024 to 30th September 2029, with a potential one-year extension option. The location of service delivery is at postal code EC2Y 5AS. Notably, the initial tender deadline was extended from 7th May 2024 to 21st May 2024, ensuring sufficient response time for interested parties.

This framework creates significant business growth opportunities for law firms, particularly those experienced in providing corporate legal advice, handling information and risk management, and supporting legal challenges and litigation. The panel comprises leading firms such as Herbert Smith Freehills LLP, DLA Piper UK LLP, Gowling WLG (UK) LLP, and TLT LLP. This contract is well-suited for medium to large-scale law firms aiming to expand their footprint in public sector consultancy, as it involves a broad range of legal advisory services crucial for the continuous operation and confidence in the UK's financial ecosystem. Small and medium-sized enterprises (SMEs) were eligible to compete, fostering inclusive growth within the legal services industry.

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Notice Title

Legal Services Framework Agreement

Notice Description

THIS IS A CONTRACT AWARD NOTICE - THIS TENDER HAS BEEN COMPLETED/AWARDED. The Financial Reporting Council (FRC) is an independent regulator which serves the public interest by setting high standards of corporate governance, corporate reporting and audit and by holding to account those responsible for delivering them. The FRC also monitors and takes enforcement action where things go wrong to ensure the proper operation of the market and confidence in the UK economy and the UK's international reputation as an attractive place to do business. The purpose of this exercise is to create a Framework Agreement to provide a panel of law firms (the panel) to provide legal services for the FRC, through the FRC's in-house legal team. The legal team advises on a wide range of issues, including but not limited to: * creating, implementing, using and maintaining the FRC's powers and procedures; * developing and maintaining legally sound policies across the FRC; * information handling, sharing and risk; * corporate legal advice (eg on contracts, governance, intellectual property rights, brand and logo use, insurance etc); * responding to challenges (eg judicial review and complaints) as well as all litigation taken by, and against, the FRC; PLEASE NOTE THIS OPPORTUNITY WAS ALSO PUBLISHED ON FIND A TENDER Additional information: Additional text THIS IS A CONTRACT AWARD NOTICE - THIS TENDER HAS BEEN COMPLETED/AWARDED. The Framework Agreement is for a duration of four years with the option to extend by 1 year (as per the original notices).

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-a739533c-edb7-4e4d-8d93-02fb24a87a81
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/908d7eb5-e9ab-4595-8781-3add96f0b3a9
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

79100000 - Legal services

Notice Value(s)

Tender Value
£2,290,000 £1M-£10M
Lots Value
Not specified
Awards Value
£2,290,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
27 Sep 20241 years ago
Submission Deadline
21 May 2024Expired
Future Notice Date
Not specified
Award Date
26 Sep 20241 years ago
Contract Period
30 Sep 2024 - 30 Sep 2029 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
THE FINANCIAL REPORTING COUNCIL LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC2Y 5AS
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified

Local Authority
City of London
Electoral Ward
Bassishaw
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
4
Supplier Names

DLA PIPER

GOWLING WLG (UK

HERBERT SMITH FREEHILLS

TLT

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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