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Fine Art Insurance

City of London Corporation

This public procurement record has 2 releases in its history.

Award

06 Jan 2022 at 22:45

Award Notice
Tender

13 Aug 2021 at 22:45

Tender Notice
Summary of the contracting process

The City of London Corporation is currently engaged in a public procurement process to secure Fine Art Insurance services, classified under the CPV code 66510000 (Insurance services). This procurement, which is being conducted as a selective and competitive procedure with negotiation, is at the award stage, following the completion of the tendering phase. The tender, originally published on 13 August 2021, has an estimated total contract value of £700,000, with a contract duration of three years and an option to extend for an additional two years. Interested suppliers were required to submit their Selection Questionnaire by the specified deadline, with significant considerations for both technical quality (40%) and pricing (60%) in the award criteria.

This tender presents substantial opportunities for businesses specialising in insurance services, particularly those with expertise in fine art, property, and speciality insurance. Companies capable of demonstrating strong technical capabilities and competitive pricing could thrive in this competitive landscape, especially those with experience in public sector contracts. As the City of London Corporation is a regional authority, this contract not only fosters growth for local businesses but also allows larger firms to showcase their capabilities within a significant historical and cultural context.

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Notice Information

Notice Title

Fine Art Insurance

Notice Description

Contract award notice for the provision of Fine Art Insurance to the City of London Corporation.

Lot Information

Lot 1

Contract award notice for the provision of Fine Art Insurance to the City of London Corporation. Additional information: Please see Contract Notice Fine Art Insurance Publication reference: 2021/S 000-019824. Publication date: 13 August 2021

Renewal: The City is looking for 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.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02d4df
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/000386-2022
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive procedure with negotiation
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

66515000 - Damage or loss insurance services

66515100 - Fire insurance services

66515200 - Property insurance services

66515300 - Weather and financial loss insurance services

66515400 - Weather-related insurance services

Notice Value(s)

Tender Value
£700,000 £500K-£1M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£572,615 £500K-£1M

Notice Dates

Publication Date
6 Jan 20224 years ago
Submission Deadline
16 Sep 2021Expired
Future Notice Date
Not specified
Award Date
24 Dec 20214 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

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
Postcode Area
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
Not specified
Local Authority
Islington
Electoral Ward
Clerkenwell
Westminster Constituency
Islington South and Finsbury

Supplier Information

Number of Suppliers
1
Supplier Name

Marsh Specialty

Further Information

Open Contracting Data Standard (OCDS)

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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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