Notice Information
Notice Title
ID 4973874 - DoJ - NICTS - Independent Investment Advisory Service for Court Funds Office
Notice Description
The Northern Ireland Court Funds Office (CFO) is an office within the Northern Ireland Courts and Tribunals Service (NICTS), an Agency of the Department of Justice (DOJ). The function of CFO is to administer and manage funds which are brought under court control for a variety of reasons. These include: * where money is awarded to a minor in a civil action; * where a person (a patient) is deemed to be incapable of managing their financial affairs because of mental incapacity; * where monies are lodged in satisfaction or against costs as a token of intention to proceed with litigation. CFO appoints an Investment Manager (the Manager) to provide professional investment management services in relation to the investment of these funds. The service includes making investment recommendations for a client's funds according to the circumstances of the case, operating a sponsored CREST membership for CFO and processing investment transactions as directed. This service is an advisory service only, as funds can only be invested on the direction of the court. Currently, the role of CFO is overseen by the Court Funds Judicial Liaison Group (JLG), which comprises the Accountant General, members of the judiciary and independent members. The purpose and scope of the contract is to ensure that the quality of advice provided by the Manager is adequately assessed and investment recommendations made in respect of CFO clients are robustly challenged. Please refer to the document entitled ID 4973874 Specification for further information.
Lot Information
Lot 1
The Northern Ireland Court Funds Office (CFO) is an office within the Northern Ireland Courts and Tribunals Service (NICTS), an Agency of the Department of Justice (DOJ). The function of CFO is to administer and manage funds which are brought under court control for a variety of reasons. These include: * where money is awarded to a minor in a civil action; * where a person (a patient) is deemed to be incapable of managing their financial affairs because of mental incapacity; * where monies are lodged in satisfaction or against costs as a token of intention to proceed with litigation. CFO appoints an Investment Manager (the Manager) to provide professional investment management services in relation to the investment of these funds. The service includes making investment recommendations for a client's funds according to the circumstances of the case, operating a sponsored CREST membership for CFO and processing investment transactions as directed. This service is an advisory service only, as funds can only be invested on the direction of the court. Currently, the role of CFO is overseen by the Court Funds Judicial Liaison Group (JLG), which comprises the Accountant General, members of the judiciary and independent members. The purpose and scope of the contract is to ensure that the quality of advice provided by the Manager is adequately assessed and investment recommendations made in respect of CFO clients are robustly challenged. Please refer to the document entitled ID 4973874 Specification for further information.
Options: Initial period - 5 yearsOne extension option of 2 years
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-0424e7
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/007713-2024
- 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
-
- CPV Codes
66000000 - Financial and insurance services
66120000 - Investment banking services and related services
66140000 - Portfolio management services
66150000 - Financial markets administration services
66152000 - Financial market regulatory services
66160000 - Trust and custody services
66170000 - Financial consultancy, financial transaction processing and clearing-house services
Notice Value(s)
- Tender Value
- £360,000 £100K-£500K
- Lots Value
- £360,000 £100K-£500K
- Awards Value
- Not specified
- Contracts Value
- £360,000 £100K-£500K
Notice Dates
- Publication Date
- 11 Mar 20242 years ago
- Submission Deadline
- 26 Jan 2024Expired
- Future Notice Date
- Not specified
- Award Date
- 8 Mar 20242 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
- Northern Ireland Courts and Tribunals Service
- Additional Buyers
- Contact Name
- Available with D3 Tenders Premium →
- Contact Email
- Available with D3 Tenders Premium →
- Contact Phone
- Available with D3 Tenders Premium →
Buyer Location
- Locality
- BELFAST
- Postcode
- BT3 9ED
- Postcode Area
- Northern Ireland
- Country
- Northern Ireland
-
- Major Region (ITL 1)
- TLN Northern Ireland
- Basic Region (ITL 2)
- TLN0 Northern Ireland
- Small Region (ITL 3)
- TLN06 Belfast
- Delivery Location
- TLN Northern Ireland
-
- Local Authority
- Belfast
- Electoral Ward
- Sydenham
- Westminster Constituency
- Belfast East
Further Information
Open Contracting Data Standard (OCDS)
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.