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Provision of Guardianship (Missing Persons) Surety Bonds

Descriptions

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 expects to 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 tender process will 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.

Timeline

Published Date :

8th Feb 2019 6 years ago

Deadline :

28th Feb 2019 6 years ago

Contract Start :

N/A

Contract End :

N/A

Keywords

banking services

investment support

insurance coverage

loan processing

credit services

pension management

asset protection

financial consulting

risk management

economic advisory

insurance services

pension services

coverage solutions

risk protection

retirement funding

life and non-life insurance

pension fund management

financial safeguard services

insurance offerings

pension planning services

general insurance

non-life insurance

risk policies

casualty coverage

insurance contracts

policy underwriting

insurance provision

commercial insurance

personal insurance

insurance product offerings

credit insurance

surety guarantee insurance

bond issuance cover

financial guarantee insurance

debtor default protection

performance bond

payment guarantee services

indemnity for credit risk

surety policies

loan repayment insurance

surety bond services

performance guarantee

contract bond cover

suretyship insurance

payment guarantee bond

contractor bond

bid bond services

indemnity guarantee

project assurance insurance

performance bond protection

insurance brokerage

insurance agency

intermediary services

broker services

agency representation

policy placement

client insurance advisor services

insurance distribution services

brokered insurance

agency insurance solutions

insurance broker services

brokered policy arrangements

client insurance brokering

independent insurance brokering

risk placement brokers

multi-line brokerage

broker-facilitated insurance

brokerage commission services

insurance intermediary broker

insurance placement brokerage

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Workflows

Status :

Closed

Assign to :

Tender Progress :

0%

Details

Notice Type :

Open opportunity

Tender Identifier :

IT-378-246-T: 2024 - 001

TenderBase ID :

310724019

Low Value :

£100K

High Value :

£1000K

Region :

North Region

Attachments :

Buyer Information

Address :

Liverpool Merseyside , Merseyside , L13 0BQ

Website :

N/A

Procurement Contact

Name :

Tina Smith

Designation :

Chief Executive Officer

Phone :

0151 252 3243

Email :

tina.smith@shared-ed.ac.uk

Possible Competitors

1 Possible Competitors