Provision of Guardianship (Missing Persons) Surety Bonds
Ministry of Justice · London
Key facts
- Contract value
- £900,000
- Awarded
- 25 Jun 2019
- Contract starts
- 28 Jul 2019
- Contract ends
- 28 Jul 2021
- Procedure
- Open procedure (below threshold)
- Buyer type
- Central government
Awarded to
| Supplier | Value |
|---|---|
| Marsh Ltd | £900,000 |
Description
The Office of the Public Guardian (OPG) is an executive agency of the Ministry of Justice (MoJ) that supports the Public Guardian in discharging his duties.
The OPG has put in place a contract for the provision of surety bonds, also called security bonds, to cover the performance of guardians of missing persons.
The aim of the contract is to appoint an insurance broker who will be responsible and accountable for the administration and management of the provision of surety bonds. The broker will be responsible for the procurement exercise to select suitable insurer/ insurers for the provision of surety bonds.
The Guardianship (Missing Persons) Act 2017 (the Act) was passed to assist families and others to look after the property and financial affairs of a person who is missing. The Act, which comes into force in July 2019, empowers the High Court to appoint a guardian to take control of the property or financial affairs of a missing person. Guardians will be required to act in the best interests of the missing person and to ensure they are carrying out their duties accordingly.
The High Court will make an order appointing a guardian, which will specify whether a surety bond is required. The court will decide on the value of the surety. The surety bond is a guarantee to pay any financial losses arising from the guardian's improper performance or failure to exercise their functions.
Guardians will be supervised by the Office of the Public Guardian. The role of the Public Guardian will be similar to his role in the registration and supervision of deputies appointed in respect of persons lacking mental capacity under the Mental Capacity Act 2005.
Additional information: The contract will be a services concession contract. The duration is expected to be two years with the option to extend for two periods of one year (2 + 1 + 1) with an expected start date of June 2019.
The Contracting Authority intends to use an eTendering system in this procurement exercise and reserves the right to use a reverse auction.
Categories (CPV)
- 66000000 Financial and insurance services
- 66100000 Banking and investment services
- 66500000 Insurance and pension services
- 66510000 Insurance services
- 66515410 Financial loss insurance services
- 66517200 Surety insurance services
- 66518000 Insurance brokerage and agency services
- 66518100 Insurance brokerage services
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