Tender for Group Legal Services 2024

2024-09-05

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Published date: 5 September 2024

Open opportunity - This means that the contract is currently active, and the buying department is looking for potential suppliers to fulfil the contract.

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Contract summary

Industry

Legal services - 79100000

Location of contract

NE8 3DF

Value of contract

£60,000

Procurement reference

NEA2F/045

Published date

5 September 2024

Closing date

10 October 2024

Closing time

12pm

Contract start date

1 November 2024

Contract end date

31 October 2027

Contract type

Service contract

Procedure type

Open procedure (below threshold)

What is an open procedure (below threshold)?

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?

Contract is suitable for VCSEs?

Description

We are inviting law firms to tender to provide legal services to NEA2F and its group companies including North East Finance Holdco Limited. We will need a mixture of general commercial advice and more specialised advice relating to public sector investment funds.

Details of the application process and the full specification of requirements are set out in the Invitation to Tender document.

This is a sub-threshold procurement for a three year contract, commencing November 2024. The contract term could be extended, but we will have the right to terminate on three months' notice. We reserve the right to procure other legal support if necessary.

NEA2F's remit includes:
• Stewardship of returns from publicly backed investment funds in North East England, including overseeing fund realisations.
• Working with stakeholders and policy makers to provide a co-ordinated strategy on Access to Finance in North East England.
• Planning and supporting the implementation of new funds to ensure continuity of provision in the region.
• Overseeing the re-deployment of legacy returns from investment funds in the region into new funds and initiatives to support SMEs.

The group includes North East Finance Holdco Limited, the holding fund manager for the Finance for Business North East Fund. This fund invested £160m in SMEs across North East England and our focus is now on realising these investments and generating a cash legacy to fund future investment programmes.