Award

Custodian Services

LONDON BOROUGH OF NEWHAM

This public procurement record has 1 release in its history.

Award

28 Nov 2022 at 11:59

Summary of the contracting process

The London Borough of Newham has awarded a contract for Custodian Services for the LBN Pension Fund. The procurement process, initiated as a tender, was completed, with a total value of £204,000. The services fall under the financial and insurance industry category, with the contract starting on 19th September 2022 and ending on 18th September 2025. The buying organization is London Borough of Newham, located in London, England, with the procurement method specified as "Other - Waiver". The tender period ended on 5th September 2022.

This tender for Custodian Services presents an opportunity for businesses operating in the financial and insurance services sector. Companies providing financial custodian solutions or insurance services would be well-suited to compete for this contract. The successful bidder, The Northern Trust Company, a large-scale entity, has been awarded the contract, demonstrating potential for growth and collaboration within the sector.

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Notice Title

Custodian Services

Notice Description

Custodian Service for the LBN Pension Fund

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-a97f89d2-e439-4c62-ab06-cf215b744b3d
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/a2fcdf30-8766-4d1f-b473-ac21df9ba9dd
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other - Waiver
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£204,000 £100K-£500K
Lots Value
Not specified
Awards Value
£204,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
28 Nov 20223 years ago
Submission Deadline
5 Sep 2022Expired
Future Notice Date
Not specified
Award Date
11 Sep 20223 years ago
Contract Period
18 Sep 2022 - 18 Sep 2025 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
LONDON BOROUGH OF NEWHAM
Contact Name
Not specified
Contact Email
eprocurement@onesource.co.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
E16 2QU
Post Town
East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
Not specified

Local Authority
Newham
Electoral Ward
Royal Albert
Westminster Constituency
West Ham and Beckton

Supplier Information

Number of Suppliers
1
Supplier Name

THE NORTHERN TRUST

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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