To award the Highways
Service Contract to Ringway for eight
years from 1 April 2021 to 31 March 2029 with an option to extend
for an additional four years to 31 March 2033 (8+4) subject to
satisfactory performance, at an estimated annual value of the
contract at £10m and a total maximum contract value of
£120m including all extensions.The contract
will effectively be exclusive but will make provision for early
termination after two years and then every two years
thereafter.The option of a biennial
review will allow LB Lambeth to review and consider other
opportunities during the term of this contract.