CO1864 Financial Asset Valuation (FAV)
Awarded
Key facts
- Closing date
- Not stated by the buyer
- Buyer's estimated value
- Not stated The buyer's own estimate, not income to you.
- Procedure
- Award under framework
- Notice type
- Contract award notice (UK6)
Decision brief
Taken from the buyer's published notice (shown as written, shortened where long). Tenderpatch has not added to or interpreted it. Always read the official documents before bidding.
- How bids will be scored
- Not stated in the notice.
- Conditions of participation (what you must show)
- None published in the notice. They may be in the tender documents.
- Contract length and extensions
- Period not stated.
- How to submit
- Not stated in the notice.
- Tender documents
- No document links in the notice. Use the official notice link.
New to public tenders? Plain-English guide to this page
- Framework
- An agreement that sets terms for work the buyer may order later, often from several suppliers. The value shown usually covers the whole agreement, not one job.
- Open for bids / closing date
- You must submit by the closing date and time, normally through the buyer's own online portal. Late bids are normally refused.
- Clarification questions
- A deadline for asking the buyer questions about the tender. It is earlier than the closing date.
- Conditions of participation
- What the buyer asks suppliers to show before they can be considered, such as experience, insurance or accreditations.
- Bids are scored on
- How the buyer will compare bids, usually a split between price and quality. A 60/40 split in favour of quality means the cheapest bid will not necessarily win.
- Lots
- A tender can be split into parts. You can often bid for only the lots that suit you.
- Area (ITL)
- The buyer names an official statistical area for where the work is, not a street address. Check the tender documents for the actual sites.
- UK4 and other notice codes
- Official codes for the type of notice. A "tender notice" means bids are being invited.
General explanations written by Tenderpatch, not part of this notice.
Description
Wiltshire Council owns a varied general fund asset portfolio in the region of 640 property assets including leisure centres, schools, car parks libraries, offices and depots. The total general fund asset value is currently estimated at approximately £830m. The Consultant is required to provide the Authority with valuations that are compliant with the relevant professional standards and guidance in place at the date point of the valuations, which includes: • Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on Local Authority Accounting (‘The CIPFA Code’) and any other relevant guidance. The Authority requires a five-year rolling programme of its general fund assets (i.e. a third of the general fund assets valued annually), and an annual material movement report for its general fund assets for those assets not valued in that year. • An annual valuation of general fund assets covering asset classes that require annual valuations. • An annual valuation of assets being held for investment purposes must also be carried out. • The Authority also requires annual year end-valuations for the Council’s HRA housing stock and garages. • Individual asset valuations will be required for individual components in accordance with the Authority’s accounting policy on componentisation. • The Authority requires an annual review of useful asset lives. • Asset valuations must have regard to any impairment events. • The instruction will include valuations of the Council’s agricultural estate. It is recognised that the Consultant may not have the expertise within the firm to value agricultural property. In such circumstances, it will be acceptable to sub-contract the valuation of agricultural property. The aim is to appoint a consultant/s by using the GCA Framework RM6343 Estate Management Services 2; Lot 5 Valuation and Compulsory Purchase Orders that will be able to provide the Authority with valuations that are compliant and with the relevant professional standards and guidance in place.