Official UK procurement notice
ID 4973874 - DoJ - NICTS - Independent Investment Advisory Service for Court Funds Office
Authority: Northern Ireland Courts and Tribunals Service·Consortium: 2 public authorities
What is being bought
Published requirement descriptionThe 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.
CPV: Financial and insurance services · Financial consultancy, financial transaction processing and clearing-house services · Financial market regulatory services · Financial markets administration services · Investment banking services and related services · Portfolio management services · Trust and custody services
The lotProcurement structure
single lot · value publishedLot #1AwardedPublished value£360,000
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Published sub-criteria (8)
- AC1 Lead Advisor Experience: 15%
- AC2 Team Experience: 10%
- AC3 Proposed Methodology: 20%
- AC4 Contract Management: 5%
- AC6 Fixed annual cost: 28%
- AC7 One-off piece of work - procurement: 4%
- AC8 Additional services - daily rate: 8%
- AC5 Social Value: 10%
Published award criteria (8)
- AC1 Lead Advisor Experience: 15
- AC2 Team Experience: 10
- AC3 Proposed Methodology: 20
- AC4 Contract Management: 5
- AC5 Social Value: 10
- AC6 Fixed annual cost: 28
- AC7 One-off piece of work - procurement: 4
- AC8 Additional services - daily rate: 8
- Staff
- Names and qualifications of delivery staff must be submitted
- Price carries 40 of 100 points: a 10% discount moves about 4 points. The method statement decides this lot, not the discount.
Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.
Procedure terms & legal framework
From the official record · publisher note attached- Procedure method
- Open procedure
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Awarded
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- No (one-off requirement)
- First published
- 12 Dec 2023, 12:52 GMT
- Last source update
- 11 Mar 2024, 15:31 GMT
- Award evaluation window
- 26 Jan 2024 – …
- Authority reference
ID 4973874- FTS notice number
2024/S 000-007713- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-0424e7Find a Tender
- Electronic trading
- e-invoicing allowed · electronic payment
- Review procedure
CPD complied with the Public Contracts Regulations 2015 and incorporated a standstill period (i.e a minimum of 10 calendar days) at the point information on the award of the contract was communicated to tenderers. That notification provided full information on the award decision. This provided time for the unsuccessful tenderer to challenge the award decision before the contract was entered into.
Publisher note: Please note that information relating to contractors engaged by the Northern Ireland Department of Justice, and associated bodies, is not published in any publicly accessible forum or publication. This is to protect such contractors, whose security and safety could be threatened by dissident terrorist organisations still active in Northern Ireland if their details became known. This is consistent with Regulation 50(6)(a).. . The contract values listed are broad estimates only and include additional quantum for unforeseen demand and to futureproof for additional potential. There is no guarantee of any level of business under this contract. The estimate is not deemed to be a condition of contract nor a guarantee of minimum demand or uptake. No compensation will be payable to a contractor should the actual demand be less than that stated. . . Contract Monitoring: The successful contractors' performance on this contract will be managed as per specification and regularly monitored. Contractors not delivering on contract requirements is a serious matter. It means the public purse is not getting what it is paying for. If a contractor fails to reach satisfactory levels of contract performance they will be given a specified time to improve. If, after the specified. time, they still fail to reach satisfactory levels of contract performance, the matter will be escalated to senior management in Construction and Procurement Delivery for further action. If this occurs and their performance still does not improve to satisfactory levels within the specified period, it may be regarded as an act of grave professional misconduct and they may be issued with a notice of written warning and notice of unsatisfactory performance and this contract may be terminated. The issue of a notice of written warning and notice of unsatisfactory performance will result in the contractor being excluded from all procurement competitions being undertaken by Centres of Procurement Expertise on behalf of bodies covered by the Northern Ireland Procurement Policy for a period of up to 3 years. from the date of issue of the notice.. . This project will be used to progress the Government’s. wider social, economic and environmental objectives.
How it was run
Official notice- Submission deadline
- 26 Jan 2024, 15:00 GMT
- Submission channel
- {"electronicSubmission","written"}
- Accepted languages
- en
- Bids opened
- 26 Jan 2024, 15:30 GMT
Timeline
26 Jan 2024 → 24 Jul 2024 · 4 dates- Submission deadline26 Jan 2024, 15:00 GMT
- Bids opened26 Jan 2024, 15:30 GMT
- Notice published11 Mar 2024, 15:31 GMT
- Bids must remain valid until24 Jul 2024, 23:59 BST
Notice history
2 events · 2 releases on Find a Tender · since 11 Mar 2024- Status changed to complete11 Mar 2024, 15:31 GMT
- Buyer details updated11 Mar 2024, 15:31 GMT
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| Information withheld for security reasonsIndependent Investment Advisory Service for Court Funds Office | £360,000 † | — | Awarded |
Contracts
Independent Investment Advisory Service for Court Funds Office · Information withheld for security reasons
- Signed
- 8 Mar 2024
- Value
- £360,000
- Status
- active
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 2bids · 2 electronic · 1 from abroad | 0 | — | — |
Contracting authority & participating public bodies
2 public bodies on the noticeConsortium members and other public bodies
- Northern Ireland Courts and Tribunals Service NICTSContracting authorityCentral purchasing bodyBody governed by public lawGeneral public services
Dispute resolution & review bodies
- The UK does not have any special review body with responsibility for appeal/mediation procedures in public procurement competitions. Instead; any challenges are dealt with by the High Court, Commercial Division, to which proceedings may be issued.Review body
- The UK does not have any such bodies with responsibility for appeal/mediation procedures. Instead; any challenges are dealt with by the High Court, Commercial Division, to which proceedings may be issued regarding alleged breaches of the PCR 2015 as amended.Review body
Bidders & participating suppliers
1 commercial party on the notice- Information withheld for security reasonsAwarded supplier
Official documents & specifications (1)
Official links; attachments are not copiedTender pack and attachments
- Technical selection criteria