IFRS 16 Lease Management Hub

Concepts

• business services
• fcdo leases
• lease data entry
• upcoming lease events
• lease management hub
• new leases
• lease managers
• lease extensions
• centralised lease management service
• all fcdo lease events

Location

London

Description

We are advertising an opportunity to bid for a contract to support FCDO with lease data entry to ensure compliance with IFRS 16 reporting standards.

Total Quantity or Scope

1.1 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). 3.3 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 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 our IWMS that arise from reconciliations within the accounting system – the reconciliation work will be undertaken by the FCDO Finance Team.

Renewal Options

The contract is expected to commence 1 October 2024 and will be valid for a period of 2 years with the possibility of 3 optional extensions of 1-year each. The contract is expected to commence 1 October 2024 and will be valid for a period of 2 years with the possibility of 3 optional extensions of 1-year each.

CPV Codes

• 79900000 - Miscellaneous business and business-related services
• 70000000 - Real estate services

Indicators

• Bids should cover the whole contract.
• Options are available.
• Renewals are available.
• Award on basis of price and quality.

Other Information

The requirement will be procured via the Foreign, Commonwealth and Development Office's e-procurement portal: https://fcdo.bravosolution.co.uk. Suppliers, not currently registered on the portal, who are interested in being considered for this opportunity must self-register on the site in order to participate — registration is free and instantaneous. Suppliers already registered on FCDO/Jaggaer will not need to re-register, but will need to complete the full suite of tender documents once issued to be considered for the opportunity. Once on the system, the opportunity can be found under project_10890; itt_6422.