Official UK procurement notice
Independent Internal Model Validation Services
Authority: Floor Re
What is being bought
Published requirement descriptionFlood Re requires the provision of independent validation services for the next phase of PIM development and validation. The scope and structure of the PIM developed in the early stages of IMAP, with the current scope of the model having been settled since 2017. Flood Re’s Risk Team have been supported by third parties for a number of these validation exercises, and this Procurement seeks to select a 3rd party partner for [at least] the next four years of Independent Validation activity
CPV: Financial and insurance services · Reinsurance services
The lotProcurement structure
single lot · no lot value publishedLot #1Renewal
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 award criteria (3)
- Quality: 65
- Social Value: 10
- Price: 25
- Price carries 25 of 100 points: a 10% discount moves about 2.5 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
- Closed
- 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
- 5 May 2022, 12:13 BST
- Last source update
- 5 May 2022, 12:13 BST
- Award evaluation window
- 6 Jun 2022 – …
- FTS notice number
2022/S 000-011681- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-03343eFind a Tender
- Electronic trading
- e-invoicing allowed · electronic ordering · electronic payment
Publisher note: (MT Ref:226171)
How it was run
Official notice- Submission deadline
- 6 Jun 2022, 12:00 BST
- Submission channel
- {"electronicSubmission"}
- Accepted languages
- en
- Bids opened
- 6 Jun 2022, 12:00 BST
Timeline
5 May 2022 → 6 Jun 2022 · 3 dates- Notice published5 May 2022, 12:13 BST
- Submission deadline6 Jun 2022, 12:00 BST
- Bids opened6 Jun 2022, 12:00 BST
Contracting authority & participating public bodies
Dispute resolution & review bodies
- Public Procurement Review ServiceReview body
Official documents & specifications (2)
Official links; attachments are not copiedTender pack and attachments
- Economic and financial selection criteria
- Technical selection criteria