From time to time, the National Asset Management Agency requires the assistance of specialist service providers in order to meet its statutory objective of obtaining the best achievable financial return for the State.
A key criterion in the selection of service providers by NAMA is the extent to which they can provide value for money for the taxpayer.
NAMA as a contracting authority is subject to EU Directive 2004/18/EC as implemented in Ireland by the European Communities (Award of Public Authorities’ Contracts) Regulations 2006 (the “Regulations”), in respect of the procurement of goods, works and services above certain values (the “EU Thresholds”). The principles underpinning the Regulations are equal treatment, non-discrimination, mutual recognition, proportionality and transparency. Where the Regulations do not apply – either because the value of the procurement is below the EU Thresholds or falls outside of the Regulations – NAMA adopts a process designed to obtain the best value for money that can be achieved. NAMA supports small and medium sized businesses in Ireland where that is possible without compromising its value for money principles.
Information relating to NAMA tenders, including tender documentation, clarifications and changes, is published on eTenders, the website for Irish government and public sector procurement.