NNC Asset and Insurance Programme 2023-2028

Tender description

North Northamptonshire Council (NNC) wishes to appoint a supplier to carry out Asset and Insurance valuations as part of its five-year asset and insurance valuation programme 2023/2028. The valuations will be relied upon by NNC and will be used to populate its Fixed Asset Register (FAR) and Statement of Accounts (SoA). Any appointment under this Tender will be for a period of 5 years (2023/2028). The appointed supplier will be provided with a schedule of Assets to be valued for each of the five years, however, NNC do reserve the right to amend the list of Assets to be valued at its own discretion. The supplier will also be required to undertake any additional valuations that may be required within the valuation year because of (but not limited to) any property reclassifications, new constructions, or property impairments. All assets are to be valued as at the 31st December of the respective years (for example, for 2023/2024 the valuation date will be the 31st December 2023), except for one-off reclassifications, new constructions, and impairments the date of which will be clarified at the point of request. The supplier will be required to provide a supplemental report containing a qualified market-based assessment to clarify that the property valuations dated 31st December of each year would still be valid as at 31st March (for example 31st March 2024 for the 2023/2024 valuation year). This information will be required at the end of the valuation year.