Award

TfL 95756 - Uninsured Loss Recovery Service

TRANSPORT FOR LONDON

This public procurement record has 2 releases in its history.

Award

25 Apr 2022 at 13:17

Tender

14 Jan 2022 at 14:09

Summary of the contracting process

Transport for London has completed the public procurement process for the contract titled "TfL 95756 - Uninsured Loss Recovery Service", classified under business and management consultancy services. The procurement was initiated as an open tender procedure, with the contract aimed at recovering uninsured losses from third parties, specifically for damages to Transport for London assets. The contract, valued at £1,625,000, was signed on 22 April 2022. Although it is currently in an active status, the procurement process encompassed a bidding period that concluded on 14 February 2022, allowing ample time for submissions prior to the award.

This tender presents significant opportunities for consultancy firms and services specialising in loss recovery and insurance negotiations. Businesses equipped to handle financial recoveries and legal negotiations would be particularly well-suited to compete in this sector. Given the potential for servicing public entities like Transport for London, companies can leverage this contract to enhance their portfolio, establish a strong relationship with a key public sector client, and potentially secure future projects through renewal options included within the contract.

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Notice Title

TfL 95756 - Uninsured Loss Recovery Service

Notice Description

The purpose of the contract is Uninsured Loss Recovery services. The Service Provider will recover losses from third parties for TfL. Uninsured losses are those items of expense which are not covered by insurance policies. This contract recovers monies on behalf of Transport for London from third parties or their insurers, for uninsured losses for the loss of or damage to Transport for London assets.

Lot Information

Lot 1

The purpose of the contract is Uninsured Loss Recovery services. The Service Provider will recover losses from third parties for TfL. Uninsured losses are those items of expense which are not covered by insurance policies. This contract recovers monies on behalf of Transport for London from third parties or their insurers, for uninsured losses for the loss of or damage to Transport for London assets.

Options: There is an option to extend the contract by one period of 2 years solely at Transport for London's discretion.

Renewal: 2 x 12 month periods at Transport for London's discretion.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-030b39
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/010607-2022
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

79400000 - Business and management consultancy and related services

Notice Value(s)

Tender Value
Not specified
Lots Value
£1,625,000 £1M-£10M
Awards Value
Not specified
Contracts Value
£1,625,000 £1M-£10M

Notice Dates

Publication Date
25 Apr 20223 years ago
Submission Deadline
14 Feb 2022Expired
Future Notice Date
Not specified
Award Date
21 Apr 20223 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

Contracting Authority (Buyer)

Main Buyer
TRANSPORT FOR LONDON
Contact Name
Mr Paul Tooke
Contact Email
paultooke@tfl.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SE10 0ES
Post Town
South East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI5 Outer London - East and North East
Small Region (ITL 3)
TLI51 Bexley and Greenwich
Delivery Location
TLI London

Local Authority
Greenwich
Electoral Ward
Greenwich Peninsula
Westminster Constituency
Greenwich and Woolwich

Supplier Information

Number of Suppliers
1
Supplier Name

TURNAMMS

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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