Section one: Contracting authority
one.1) Name and addresses
Flood Re Limited
75 King William Street
LONDON
EC4N 7BE
Country
United Kingdom
Region code
UKI - London
Companies House
08670444
Internet address(es)
Main address
Buyer's address
https://www.floodre.co.uk/about-us/
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://procurementsolutions.esourcingportal.com
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://procurementsolutions.esourcingportal.com
one.4) Type of the contracting authority
National or federal Agency/Office
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Catastrophe Lawyer procurement
two.1.2) Main CPV code
- 79212200 - Internal audit services
two.1.3) Type of contract
Services
two.1.4) Short description
Flood Re to seek provision for external legal services to advise on and support the issuance of an indemnity trigger catastrophe bond (the "Cat Bond") as part of a wider re-procurement of its outwards reinsurance programme to be effective from 1 April 2025. It is likely that Flood Re will consider the issuance of such a bond at least every three years thereafter and has a preference for long term supplier relationships however, that longer term opportunity does not form part of this ITT
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKI - London
two.2.4) Description of the procurement
Flood Re to seek provision for external legal services to advise on and support the issuance of an indemnity trigger catastrophe bond (the "Cat Bond") as part of a wider re-procurement of its outwards reinsurance programme to be effective from 1 April 2025. It is likely that Flood Re will consider the issuance of such a bond at least every three years thereafter and has a preference for long term supplier relationships however, that longer term opportunity does not form part of this ITT
two.2.5) Award criteria
Quality criterion - Name: Technical / Weighting: 55
Quality criterion - Name: Social / Weighting: 5
Price - Weighting: 40
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
6
This contract is subject to renewal
No
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: Yes
Description of options
The contract duration will be for the period of approximately six months, up to and including the successful issuance of the bond, to be effective in March 2025. Alternatively, if the Company not does not proceed to issue the Bond, it will be up to the end of October 2024 (being approximately six weeks).
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
2 September 2024
Local time
11:59am
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.7) Conditions for opening of tenders
Date
2 September 2024
Local time
12:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.4) Procedures for review
six.4.1) Review body
Public Procurement Review Service
Cabinet Office
London
publicprocurementreview@cabinetoffice.gov.uk
Telephone
+44 3450103503
Country
United Kingdom