--- title: "ID 4973874 - DoJ - NICTS - Independent Investment Advisory Service for Court Funds Office" ocid: "ocds-h6vhtk-0424e7" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0424e7" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-0424e7.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-0424e7.json" source: "Find A Tender Service" current_stage: "Award" buyer: "NORTHERN IRELAND COURTS AND TRIBUNALS SERVICE" published: "2024-03-11" --- # ID 4973874 - DoJ - NICTS - Independent Investment Advisory Service for Court Funds Office Buyer: NORTHERN IRELAND COURTS AND TRIBUNALS SERVICE Current stage: Award OCID: ocds-h6vhtk-0424e7 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0424e7) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-0424e7.json) ## Summary The Northern Ireland Courts and Tribunals Service has completed the procurement process for an Independent Investment Advisory Service for the Court Funds Office. The tender was initiated as a tender process and was classified under financial and insurance services. The procurement stage is now in a cancelled status. The contract, valued at £360,000.00 GBP, was signed on 8th March 2024. This procurement process offers business growth opportunities for financial service providers specializing in investment management, portfolio services, financial consultancy, and trust services. The buying organisation is seeking expertise in financial and insurance services to provide advisory services for managing court funds. The tender process has progressed to the award stage, with one active supplier currently engaged. Businesses with experience in financial markets administration and regulatory services may find this opportunity suitable for expanding their portfolio. ## Notice 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 ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/007713-2024 | | 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 | | All stages | Tender, Award | ## Dates | Field | Value | | --- | --- | | Publication date | 11 Mar 2024 | | Submission deadline | 26 Jan 2024 | | Future notice date | Not specified | | Award date | 8 Mar 2024 | | Contract period | Not specified | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £360,000 | | Lots value | £360,000 | | Awards value | Not specified | | Contracts value | £360,000 | ## Status | Field | Value | | --- | --- | | Tender status | Complete | | Lots status | Cancelled | | Awards status | Active | | Contracts status | Active | ## Buyer | Field | Value | | --- | --- | | Main buyer | NORTHERN IRELAND COURTS AND TRIBUNALS SERVICE | | Additional buyers | NORTHERN IRELAND COURTS AND TRIBUNALS SERVICE NICTS | | Locality | BELFAST | | Post town | Northern Ireland | | Postcode | BT3 9ED | | Country | Northern Ireland | | ITL 1 | TLN Northern Ireland | | ITL 2 | TLN0 Northern Ireland | | ITL 3 | TLN06 Belfast | | Local authority | Belfast | | Electoral ward | Sydenham | | Westminster constituency | Belfast East | | Delivery location | TLN Northern Ireland | ## Supplier | Field | Value | | --- | --- | | Number of suppliers | 1 | | Supplier names | INFORMATION WITHHELD FOR SECURITY REASONS | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### 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 ## Release History - 11 Mar 2024 at 15:31 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/007713-2024 - 12 Dec 2023 at 12:52 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/036514-2023 ## Notice URLs - https://etendersni.gov.uk/epps - https://www.finance-ni.gov.uk/topics/procurement - https://www.justice-ni.gov.uk/topics/courts-and-tribunals ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0424e7. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-0424e7.json.