Provision of Asset Valuation Services for Insurance and Financial Reporting to Essex County Council

About

Essex County Council awarded a contract to NPS Property Consultants Limited for the provision of professional asset valuation services.

The contract, valued at £103,636.62, runs for an initial three-year term with an option to extend for a further two years, totaling five years.

The supplier will undertake annual asset valuations to maintain accurate buildings insurance valuations for all properties for which the Council holds responsibility, ensuring appropriate insurance cover is maintained.

These valuations also support the Council's statutory financial reporting obligations under the Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on Local Authority Accounting in the United Kingdom.