Section one: Contracting authority
one.1) Name and addresses
Northern Ireland Courts and Tribunals Service NICTS
c/o Construction and Procurement Delivery, 303 Airport Road West
BELFAST
BT3 9ED
Country
United Kingdom
Region code
UK - United Kingdom
Internet address(es)
Main address
https://www.justice-ni.gov.uk/topics/courts-and-tribunals
Buyer's address
https://www.finance-ni.gov.uk/topics/procurement
one.2) Information about joint procurement
The contract is awarded by a central purchasing body
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://etendersni.gov.uk/epps
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://etendersni.gov.uk/epps
Tenders or requests to participate must be submitted to the above-mentioned address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
ID 4973874 - DoJ - NICTS - Independent Investment Advisory Service for Court Funds Office
Reference number
ID 4973874
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short 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.
two.1.5) Estimated total value
Value excluding VAT: £360,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66140000 - Portfolio management services
- 66120000 - Investment banking services and related services
- 66150000 - Financial markets administration services
- 66160000 - Trust and custody services
- 66170000 - Financial consultancy, financial transaction processing and clearing-house services
- 66152000 - Financial market regulatory services
two.2.3) Place of performance
NUTS codes
- UKN - Northern Ireland
Main site or place of performance
Client locations within Northern Ireland as required.
two.2.4) Description of the procurement
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.
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.2.6) Estimated value
Value excluding VAT: £360,000
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
84
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
Initial period - 5 years
One extension option of 2 years
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
three.2) Conditions related to the contract
three.2.3) Information about staff responsible for the performance of the contract
Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract
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
26 January 2024
Local time
3:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.6) Minimum time frame during which the tenderer must maintain the tender
Tender must be valid until: 24 July 2024
four.2.7) Conditions for opening of tenders
Date
26 January 2024
Local time
3:30pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.2) Information about electronic workflows
Electronic invoicing will be accepted
Electronic payment will be used
six.3) Additional information
Neither CPD nor the Department of Justice can provide any guarantee as to the level of. business under this contract. The estimated contract value is a broad estimate only; it includes additional quantum for unforeseen demand and to future proof. 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 Contractor's performance on the contract will be 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 CPD 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. . . The Authority expressly reserves the rights: (i) not to award any contract as a result of the procurement process commenced by publication of this. notice; (ii) to make whatever changes it may see fit to the content and structure of the. tendering competition; (iii) to award a contract in respect of any parts of the services covered by this notice and (iv) to award contract(s) in stages. And under no circumstances will the Authority be liable for any costs incurred by Candidates.
six.4) Procedures for review
six.4.1) Review body
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.
N/A
Country
United Kingdom
six.4.3) Review procedure
Precise information on deadline(s) for review procedures
CPD will comply with the Public Contracts Regulations 2015 and where. appropriate, will incorporate a standstill period (i.e a minimum of 10 calendar days) at the point information on the award of the contract is communicated to tenderers. That notification will provide full. information on the award decision. This provides time for unsuccessful tenderers to challenge the award decision before the contract is entered into.