Published date: 13 August 2019

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 10 December 2018

Contract summary

Industry

  • Business and management consultancy and related services - 79400000

Location of contract

Any region

Value of contract

£16,500,000

Procurement reference

RM6139.

Published date

13 August 2019

Closing date

10 December 2018

Contract start date

30 August 2019

Contract end date

29 August 2030

Contract type

Service contract

Procedure type

Other: Contract Award Notice

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

UK Asset Resolution Ltd (UKAR) is nearing completion of its objective of returning the UK taxpayers' investment in NRAM Ltd (NRAM) and Bradford and Bingley plc (B&B) to the private sector. One option is to sell the NRAM and B&B legal entities, leaving UKAR in public ownership.

UKAR is therefore seeking to establish a single supplier contract to outsource all aspects of the running of its remaining business, with the exception of board and company secretarial functions.

UKAR will be responsible for meeting contractual obligations to the buyer of B&B and NRAM, a range of liabilities relating to previous asset sales, sponsoring the legacy defined benefit pension schemes and administering other non-loan assets and liabilities.

The scope of the contract requires the provision of claims management services and the outsourcing of business administration activities required to run the business, such as management reporting, stakeholder management and other miscellaneous activities (such as, potentially, residual pension management responsibilities). It also involves the planning and management of the transition to the new arrangements.

More information

Attachments

Award information

Awarded date

1 July 2019

Contract start date

30 August 2019

Contract end date

29 August 2030

Total value of contract

£16,500,000

This contract was awarded to 1 supplier.

PricewaterhouseCoopers LLP

Address

1 Embankment Place, London, WC2N 6RH

Reference

Companies House number: OC303525

Value of contract

£0

Supplier is SME?

Yes

Supplier is VCSE?

No

About the buyer

Contact name

UK Asset Resolution Ltd (UKAR)

Address

Croft Road, Crossflatts
Bingley
BD16 2UA
England

Email

ResiCo@UKAR.co.uk

Website

https://www.ukar.co.uk