Provision of Surety Bonds

Concepts

• insurance and pensions
• the public guardian
• management of the provision of surety bonds
• provision of surety bonds
• surety bond
• value of the surety bond
• moj
• insurance broker
• public guardian
• such decisions

Location

Description

To appoint an insurance broker, or brokers who will be responsible and accountable for the administration and management of the provision of surety bonds and for the procurement exercise to select a suitable insurer or insurers for the provision of surety bonds. The Public Guardian (PG) was created under the Mental Capacity Act (2005). The OPG is an executive agency of the Ministry of Justice (MoJ) that supports the PG in discharging his duties. The Mental Capacity Act (2005) makes provisions for ways in which decisions can be made on behalf of people in circumstances where they may be incapable of making such decisions personally. In such cases where the person has property or finances and no attorney in place, it will be necessary to apply the CoP for an appropriate deputyship order. Where the CoP appoints a Deputy, it may require a surety bond to be in place for the protection of the person's property and, or finance. The Surety Bond is a guarantee to pay any financial losses arising from the Deputy's failure to fulfil their agreed duty. The CoP decides the value of the Surety Bond.

Award Detail

CPV Codes

• 66500000 - Insurance and pension services

Indicators

• Contract is suitable for SMEs.

Other Information

Insync Insurance Solutions Ltd redacted Concession Agreement 20220826 JB V2 update Concession Agreement-JA20_9 (1)-Insync_Insurance_Limited.pdf Howden Insurance Brokers Ltd redacted Concession Agreement 20220826 JB V2 update Concession Agreement-JA20_9 (1)_Howden_Contract.pdf Marsh Limited redacted Concession Agreement 20220826 JB V2 update Concession Agreement-JA20_9 (1)_Marsh_Contract.pdf