Section one: Contracting authority
one.1) Name and addresses
NATIONAL WEALTH FUND LIMITED
2 Whitehall Quay, Leeds
Leeds
LS14HR
Country
United Kingdom
Region code
UKE42 - Leeds
Companies House
06816271
Internet address(es)
Main address
https://www.nationalwealthfund.org.uk/
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Group Income Protection Policy
Reference number
C0434
two.1.2) Main CPV code
- 66510000 - Insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
Provision of Income Protection Policy
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £520,930.80
two.2) Description
two.2.2) Additional CPV code(s)
- 66510000 - Insurance services
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
Group Income Protection Policy for NWF staff.
two.2.5) Award criteria
Price
two.2.11) Information about options
Options: Yes
Description of options
2 x 12 month extension options with a maximum end date of 31/08/2026
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Award of a contract without prior publication of a call for competition in the cases listed below
- The procurement falls outside the scope of application of the regulations
Explanation:
NWF appointed an insurance broker who it was thought had brokered a one year contract for this insurance on behalf of the NWF. This contract was below threshold value and no prior publication was required ahead of contracting. It has recently been uncovered it was a one year contract with 2 optional 12 month extensions and that the first extension has been taken.
We are therefore issuing a late award notice.
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
Section five. Award of contract
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
1 September 2023
five.2.2) Information about tenders
Number of tenders received: 1
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Canada Life Limited
Herfordshire
Country
United Kingdom
NUTS code
- UK - United Kingdom
Companies House
00973271
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Initial estimated total value of the contract/lot: £520,930.80
Total value of the contract/lot: £520,930.80
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
The Royal Courts of Justice
Strand
London
WC2A 2LL
Country
United Kingdom