Tender

Leasehold Right to Buy Insurance

SANDWELL METROPOLITAN BOROUGH COUNCIL

This public procurement record has 3 releases in its history.

TenderAmendment

09 Nov 2020 at 09:29

Tender Notice
TenderAmendment

04 Nov 2020 at 09:24

Tender Notice
Tender

30 Oct 2020 at 14:58

Tender Notice
Summary of the contracting process

Sandwell Metropolitan Borough Council is currently seeking bids for the "Leasehold Right to Buy Insurance" contract, which is valuable at £560,000. The procurement process is at the tender stage, with a submission deadline of 30th November 2020. This initiative is crucial as it addresses the property insurance for private dwellings sold under the Right To Buy legislation, predominantly in the West Midlands area, specifically Oldbury. The contract period is set to commence on 1st April 2021 and will run until 31st March 2026. The procurement method employed is an open procedure exceeding the financial threshold, primarily classified under insurance services.

This tender presents a significant opportunity for businesses specialising in property insurance services, particularly those catering to leasehold properties and residential insurance needs. Firms equipped to manage large-scale insurance portfolios, especially those familiar with the nuances of leasehold agreements and local regulations, will be particularly well-suited to participate in this competitive procurement. The successful bidder will be positioned to strengthen their portfolio whilst contributing to the risk management of the local authority’s housing initiatives.

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Notice Information

Notice Title

Leasehold Right to Buy Insurance

Notice Description

The current Long-Term Agreement expires on 1st April 2021, Sandwell Metropolitan Borough Council invites bids for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of these were under the Right To Buy (RTB) legislation Housing Act 1985. 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. Other flats in some blocks have not been sold (Council tenanted) and are separately insured so insurance cover for these flats are not required Additional information: Is a Recurrent Procurement Type? : No

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ef059037-abbb-4dfb-966b-3c7706c474d2
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/ce48ad0d-233e-4d18-8d6f-270fd3dd9074
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
Not specified
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
£560,000 £500K-£1M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
9 Nov 20205 years ago
Submission Deadline
30 Nov 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Apr 2021 - 31 Mar 2026 Over 5 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
SANDWELL METROPOLITAN BOROUGH COUNCIL
Contact Name
Michelle Hackwood
Contact Email
michelle_hackwood@sandwell.gov.uk
Contact Phone
0121 569 2873

Buyer Location

Locality
WEST MIDLANDS
Postcode
B69 3DB
Post Town
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG37 Sandwell
Delivery Location
TLG West Midlands (England)
Local Authority
Sandwell
Electoral Ward
Oldbury
Westminster Constituency
West Bromwich

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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