Provision of Global Custody Services for Norfolk Pension Fund

Official notice

Authority: Norfolk County Council (Local council)

ServicesAward procedure without prior publication of a call for competition

Sectors: Financial and insurance services (66) Delivery: East of England (UKH15)

Awarded value£500,000published contract · exc. VAT

Awarded 15 Jun 2021no call for competition

Awarded to The Northern Trust Company

What is being bought

Published requirement description

Norfolk County Council undertook a Further Competition under the National LGPS Multi-Provider Framework Agreement NCCT42038 for the provision of Global Custody Services.

CPV: Trust and custody services

The lotProcurement structure

single lot · no lot value published

Lot #1Norfolk County Council undertook a Further Competition from the National LGPS…Awarded

Norfolk County Council undertook a Further Competition from the National LGPS Multi-Provider Framework Agreement NCCT42038 for the provision of Global Custody Services.

Delivery: East of England

Procedure terms & legal framework

From the official record

Procedure method: Award procedure without prior publication of a call for competition
Legal basis: CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category: Services
Notice status: Awarded without competition
Procurement threshold: Unspecified in notice
Regulatory regime: Standard
Commercial structure: Stand-alone contract (no framework)
Competition type: Direct award (no call for competition)
GPA / WTO covered: Unspecified in notice
Recurring procurement: Unspecified in notice
First published: 14 Oct 2021, 08:38 BST
Last source update: 14 Oct 2021, 08:38 BST
Authority reference: NCCT42163
FTS notice number: 2021/S 000-025649
Classification (CPV): Trust and custody services
Delivery area: East of England (UKH15)
Official registry OCID: ocds-h6vhtk-02eb9e Find a Tender

Why no open competition: The procurement falls outside the scope of application of the directive
Published justification: This was a further competition under the National LGPS Multi-Provider Framework Agreement for the Provision of Global Custody Services NCCT42038

Review and risk notes

Review procedure: The Public Contracts Regulations 2015 (as amended) provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales and Northern EN Standard form 02 - Contract Notice 12/19 Ireland). Proceedings must be brought within 30 days from the date of knowledge (the date on which the economic operator first knew or ought to have known that grounds for starting the proceedings had arisen) unless the Court considers that there is good reason for extending the period within which proceedings may be brought, in which case the Court may extend that period up to a maximum of 3 months from the date of knowledge.

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast

Awards 1

Awarded value £500,0001 contract exc. VAT

Bids received 4

Contracts signed 1latest 15 Jun 2021

Awarded to	Value	Date	Status
The Northern Trust Company	£500,000 †	—	Awarded

Contracts

Contract 025649-2021-NCCT42163-1 · The Northern Trust Company
Signed
15 Jun 2021
Value
£500,000
Status
active

Bid statistics published by the authority

Bids	SME	VCSE	Valid bid range
4bids · 4 electronic	0	—	—

Contracting authority & participating public bodies

Norfolk County Council (As Administering Authority for Norfolk Pension Fund)

Contracting authorityLocal CouncilRegional or local authorityGeneral public services Martineau Lane, NORWICH, East of England, NR12DHContact email

Dispute resolution & review bodies

Norfolk County CouncilReview body Norwich

Bidders & participating suppliers

1 commercial party on the notice

The Northern Trust CompanyAwarded supplier London, London

Official documents & specifications

Official links; attachments are not copied

No document links were published on the notice.