21 June 2017

Invitation to tender for lease of commercial real estate

The IFRS Foundation (the ‘Foundation’) is investigating the possibility of relocating its London offices from 30 Cannon Street, EC4M 6XH to alternative premises within the City of London or its outskirts. The Foundation’s current lease will expire in September 2018. If the Foundation decides to relocate, we will require premises of approximately 21,000 sq. ft. The Foundation is inviting tenders for external legal services relating to this process, hereinafter ‘the Project’.

Scope of services required

The external legal services required with regard to the Project will include, but are not limited to, assisting the Foundation with the negotiation and drafting of:

  • Heads of Terms for a new lease agreement with a Landlord;
  • a new long-form lease agreement;
  • agreements relating to any dilapidations liability for the current premises; and
  • agreements with project-management, contract administration, design and build companies and cost consultants.

Period of appointment

The appointment will last until the Foundation has completed the Project.

Tender process

Each firm is asked to submit a written proposal setting out how it will meet the requirements outlined below. This proposal should be submitted by 3 July 2017. We have made provision for each firm to arrange a conference call with the Foundation staff before 03 July 2017, to enable firms to obtain further information about the Foundation and the scope of the Project. If you would like to arrange a call, please contact Mirjam Buyteweg or call on 020 7246 6931.

After the deadline for submission, each shortlisted firm will be invited to a meeting at the Foundation's offices to discuss its proposal. It is anticipated that these meetings will take place in July 2017. Precise dates and times will be confirmed in due course.

Proposal requirements and criteria for assessment

1) Details of firm and experience

Please provide:

  • examples of recent, similar projects that your firm has undertaken;
  • details of your firm's experience of working with not-for-profit clients;
  • summary of potential benefits to the Foundation of selecting your firm; and
  • details of internal processes used for quality assurance.

2) Understanding the business

  • Demonstrate a clear understanding of the nature of the Foundation's business and the structure of the organisation.

3) Resourcing

Please provide:

  • the names, locations and relevant experience of members of your core service team;
  • information on how involved the partner will be in the work;
  • information about the time key team members will commit to an appointment;
  • information about staff continuity; and
  • references for the firm and each core member.

4) Approach

  • Explain the approach your firm will take in assisting the Foundation with this Project.

5) Governance and independence

Please:

  • disclose whether your firm has any potential conflicts of interest;
  • confirm that your firm will ensure compliance with independence requirements; and
  • confirm that your firm will take all necessary steps to ensure its independence.

6) Fees

Please provide:

  • a competitive fee quote that offers the Foundation value for money, including but not limited to alternative fee structures and billing arrangements, and including but not limited to avoidance of double billing if more than one member of your team is involved in the project or a particular aspect of the project; and
  • details as to the timings of billings.

7) Other

Please provide:

  • details of up to three clients that we can contact for references; and
  • details (including amounts) of the firm's liability insurance cap.

The deadline for receipt of the proposal is 5pm on 3 July 2017. No tender will be opened prior to this deadline, so please make all correspondence clearly identifiable.

We would be grateful if you could confirm your willingness to participate in the selection process and your ability to meet the stated submission date of 03 July 2017. To do so and for any further information or clarification please contact Mirjam Buyteweg.

Confidentiality

By accepting this invitation to take part in the tender process, you agree to keep in confidence all information provided to you, whether written or oral, in relation to the tender process and/or in relation to the Foundation's business generally that is not already in the public domain, to use the said information for the purposes of this tender only and for no other reason, and not to disclose any of the said information to any third party.

You will bear any costs and expenses that you incur in relation to this tender and the said information shall be kept confidential unless it lawfully becomes public knowledge.

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