Tender

Fine Art Insurance

CITY OF LONDON CORPORATION

This public procurement record has 1 release in its history.

Tender

13 Aug 2021 at 13:59

Tender Notice
Summary of the contracting process

The City of London Corporation is facilitating a procurement process for Fine Art Insurance, targeted at service providers in the insurance industry. This opportunity is classified under insurance services and is based in London, with a tender period that concludes on 16 September 2021. The contract is expected to commence on 25 December 2021, lasting for a total of three years, with a potential two-year extension, subject to performance. The total estimated contract value for this five-year period is £700,000, translating to an annual value of approximately £140,000. This procurement is being conducted through a selective method, specifically a Competitive Procedure with Negotiation, requiring interested organisations to submit a Selection Questionnaire for consideration.

This tender presents a significant opportunity for businesses specialising in insurance services, particularly those experienced in fine art coverage. Companies that meet the selection criteria and can demonstrate their capability in managing high-value assets will be well-positioned to compete. The structured nature of this procurement, alongside the long-term contract options, allows suppliers to establish a sustainable partnership with the City of London Corporation, potentially leading to further growth and collaboration in the insurance sector.

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Notice Information

Notice Title

Fine Art Insurance

Notice Description

The City of London Corporation (the City) seeks the provision of Fine Art Insurance. Organisations wishing to take part in this project are invited to "express interest" which will give access to the Selection Questionnaire (SQ) and drafts of the procurement documents in the e-tendering system (www.capitalesourcing.com) Any questions relating to this procurement must be made via the correspondence area in the e-Tendering system, in accordance with the procurement documents. The procurement is being run as a Competitive Procedure with Negotiation. Any organisation that considers itself able to meet the requirements of the selection criteria within the Selection Questionnaire will be invited to submit a tender. The description of the service is set out in the procurement documents, particularly the specification - available from: https://www.capitalesourcing.com The City is seeking tender responses based upon a Long Term Agreement of 3 years with an option to extend for a further 2 years, subject to performance, budgetary conditions and internal governance. The contract value stated is for the 5 year period. The estimated contract value given is for the full duration of the contract including the maximum possible extensions. The estimated annual contract value is therefore PS140,000 Additional information: This procurement process is being undertaken using the electronic tendering system 'Capital eSourcing' (url: www.capitalesourcing.com). Suppliers will need to register an interest on the system in order to participate and registration is free. This procurement process is being conducted in successive stages and you will only be invited to submit an initial tender if you have been successful and shortlisted from the first stage, i.e. pre-qualification. If you wish to be considered you must complete and submit a completed Selection Questionnaire (SQ) by the specified closing date and time. Submissions cannot be uploaded after this return deadline. Other than the Selection Questionnaire (SQ), the procurement documentation submitted at the date of this Notice is draft documentation and the Council reserves the right to amend, augment and supplement any document. The contracting authority reserves the right at any time to vary the timescales in this notice, cease the procurement process and not award the contract or to award only part of the opportunity described in this notice. If the contracting authority takes up any of these rights then it will not be responsible for, or pay the expenses or losses, which may be incurred by any candidate or tenderer as a result. Economic operators are solely responsible for their costs and expenses incurred in connection with the preparation of their tender submissions and all stages throughout the procurement. Under no circumstances will the contracting authority be liable for costs or expense borne by the economic operators.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-d24fadc0-1db3-42ce-9804-22eb8515d5a7
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/ed94f54e-2d0a-4641-824b-1d551d3822c4
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive procedure with negotiation (above threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
£700,000 £500K-£1M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
13 Aug 20214 years ago
Submission Deadline
16 Sep 2021Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
25 Dec 2021 - 24 Dec 2024 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
CITY OF LONDON CORPORATION
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
EC2P 2EJ
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI43 Haringey and Islington
Delivery Location
TLI London
Local Authority
Islington
Electoral Ward
Clerkenwell
Westminster Constituency
Islington South and Finsbury

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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