Planning

Provision of Guardianship (Missing Persons) Surety Bonds

MINISTRY OF JUSTICE.

This public procurement record has 1 release in its history.

Planning

08 Feb 2019 at 09:47

Summary of the contracting process

The Ministry of Justice is initiating a procurement process for the "Provision of Guardianship (Missing Persons) Surety Bonds" within the financial and insurance services industry. Currently in the planning stage, the tender aims to establish a contract for providing surety bonds that support guardians of missing persons. The engagement end date for market participants is set for 28 February 2019, while the contract is expected to commence in July 2019, lasting for two years with possible extensions. Interested suppliers are encouraged to register for a supplier engagement day happening in Birmingham on 18 February 2019, with a deadline for expressing interest by 15 February 2019.

This procurement opportunity presents significant growth potential for businesses specialising in insurance brokerage and surety services. Companies with experience in administering financial guarantees or security bonds would be particularly well-suited to compete for this contract. Given the requirement for a responsible insurance broker to oversee the provision of the surety bonds, firms with strong regulatory compliance and a track record in managing such financial instruments would be key contenders in this competitive tendering environment.

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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 expects to 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 tender process will 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 purpose of this PIN is to: a) Inform the market of the prospective opportunity regarding the provision of surety bonds in respect of guardianship of missing persons. b) Notify the market of the supplier engagement day which will take place on Monday 18 February in Birmingham. In the first instance, suppliers should register their interest in attending the supplier day by sending an email to Dashini Ramrous (Dashini.Ramrous1@justice.gov.uk). The email should include company name, supplier representative names (up to 2 attendees) and their contact details (email address and telephone number). The deadline for expressing an interest is 15 February 2019. The Ministry of Justice will then issue an invite to all interested parties and confirm the location, timing and agenda. (c) The contract 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 July 2019. (d) 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-de9f9441-e155-452a-b40d-0addaf206b8c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/adc89f18-5ead-4cee-baa1-8fd66ee5d4ca
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Market Engagement Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66000000 - Financial and insurance services

66500000 - Insurance and pension services

66510000 - Insurance services

66517000 - Credit and surety insurance services

66517200 - Surety insurance services

66518000 - Insurance brokerage and agency services

66518100 - Insurance brokerage services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
8 Feb 20197 years ago
Submission Deadline
Not specified
Future Notice Date
28 Feb 2019Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Not Specified
Awards Status
Not Specified
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
102 PETTY FRANCE
Postcode
SW1H 9AJ
Post Town
South West 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
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

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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