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| Source: | Contracts Finder |
| Notice Type: | Award notice |
| Buyer: | Foreign Commonwealth and Development Office |
| Main Category: | Services |
| Procurement Method: | Open procedure (above threshold) |
| Tender Status: | Closed |
Pipeline status
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Application Deadline
24 June 2024
Closed
Estimated Value
£1,529,668
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| £1,529,668 |
| Release Date: | 20 February 2025 |
| Application Deadline: | 24 June 2024 |
| Contract Start Date: | 1 November 2024 |
| Contract End Date: | 31 October 2026 |
| Contract Duration: | 2.0 years |
| Procurement ID (OCID): | ocds-b5fd17-feb4ca6a-2dc2-4ce1-b3ed-9ceffd39f922 |
| Notice Reference: | 8c2a7c71-1532-49d0-9b50-a87c70d5ffa3-828868 |
All 3 notices for this procurement, oldest first.
FCDO Lease Management Hub
IFRS 16 Lease Management Hub
FCDO IFRS 16 Lease Management Hub
Earlier notices predate the Procurement Act 2023 (commenced 24 Feb 2025) and therefore don't carry UK1–UK17 codes.
View Original Notice
Access the full notice on the official portal
Awarded to
| Award value: | £1,529,668 |
| Award decision date: | 29 October 2024 |
| Award status: | Active |
The adoption by FCDO of a new accounting standard (International Financial reporting Standard [IFRS] 16), now demands a level of rigour and accuracy in accounting for FCDO leases. It is proposed to centralise all lease data inputting into a hub to improve accuracy. To do this FCDO is seeking to set up an (initially) outsourced, lease management hub to process all FCDO lease events (new leases, lease extensions, rent reviews and lease terminations). FCDO is now creating centralised lease management service to proactively identify upcoming lease events for properties overseas, and to retrieve the details of those events with supporting documentation, and for a dedicated team of lease managers to enter that data into the IWMS system (Planon) and then quality assure and approve that data in the system. This will improve the accuracy of the accounting outputs and also assist FCDO to comply with cross government property standards (GOVS_004). The service will also work with FCDO Finance team to make corrections in Planon that arise from reconciliations within the accounting system - the reconciliation work will be undertaken by the FCDO Finance Team.
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