Bharat Petroleum Corporation Ltd Tender by Bharat Petroleum Corporation Ltd (17cac524c)
Assets Insurance Service - Marine – cum – Erection (MCE); Property Damage Cover, Standard Fire
Tender Timeline
Tender Title: Submission for Assets Insurance Service - Marine cum Erection
Tender Reference Number: 17cac524c
Issuing Authority
Bharat Petroleum Corporation Ltd (BPCL)
Ministry of Petroleum and Natural Gas
Scope of Work and Objectives
The purpose of this tender is to solicit proposals for Assets Insurance Service - Marine cum Erection. This involves comprehensive insurance coverage for assets against several risks including, but not limited to, property damage, standard fire, special perils, and operational business interruption. The coverage is intended to safeguard the assets against unforeseen events such as storms, floods, and other natural disasters.
The successful bidder will be responsible for providing a robust insurance service that encompasses various facets of asset protection, ensuring business continuity and minimizing potential losses from disruptions. The service will include cover for marine assets during transit and erection at sites, thus securing BPCL's valuable investments.
Eligibility Criteria
Interested bidders must satisfy specific eligibility criteria to participate in the tender process. These include being a registered insurance provider with a valid license to offer marine and property insurance services. Bidders are also required to demonstrate their financial stability and prior experience in delivering similar services on a large scale.
Technical Requirements
Bidders must meet the following technical requirements for their proposals:
- Comprehensive insurance policies that include cover for Standard Fire, Special Perils, Storm, Typhoon, Hurricane, and Flood.
- Provision of Business Interruption (Loss of Profit) coverage.
- Ability to manage claims efficiently and provide timely support to minimize disruptions in operations.
Financial Requirements
Bidders must demonstrate financial capability through audited financial statements from the past three years. The proposals must outline competitive pricing models with detailed breakdowns, including any discounts or benefits extended to Bharat Petroleum Corporation Ltd.
Document Submission Details
All documents must be submitted electronically as per the specified format outlined in the tender documentation. Bidders are required to ensure all submissions are complete, including proof of eligibility, technical documentation, and financial statements. Any incomplete submission may result in disqualification.
Special Provisions
Micro, Small, and Medium Enterprises (MSEs) may benefit from special provisions under this tender, including relaxed eligibility criteria and pricing advantages. Startups actively participating in this tender can also avail of specific benefits aimed at encouraging innovative solutions and enhancing competitiveness.
Evaluation Process
The evaluation of the submitted bids will follow a clear process focused on ensuring compliance and competitiveness. The evaluation will consider the offered premium rates, coverage details, bidder experience, and financial capability. Proposals will be ranked based on these parameters to identify the most suitable insurance provider.
Delivery Locations
The services are intended to cover various locations where Bharat Petroleum Corporation is operational. The geographical scope of the insurance coverage must be made clear in the proposals submitted for consideration.
Contact Information
For further inquiries and details regarding the tender, interested parties may reach out to the procurement department of Bharat Petroleum Corporation Ltd. specifics regarding personnel or direct contact are not disclosed in this document.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
6 DocumentsDocuments Required from Seller
- Additional Doc 1 (Requested in ATC)
- Additional Doc 2 (Requested in ATC)
- Additional Doc 3 (Requested in ATC) *In case any bidder is seeking exemption from Experience / Turnover Criteria
- the supporting documents to prove his eligibility for exemption must be uploaded for evaluation by the buyer
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Frequently Asked Questions
The eligibility requirements for participating in this tender require bidders to be registered entities with a valid license to provide marine and property insurance services. Bidders must also demonstrate experience in delivering services of a similar scale and scope. Financial stability is crucial, and bidders must provide audited financial statements from the last three years to verify their capabilities.
Bidders must include specific certificates with their proposals such as their insurance provider’s registration license, proof of prior experience through client testimonials or performance reports, and any regulatory certifications related to marine and property insurance. These documents are essential to establish credibility and compliance with the tender specifications.
Documents must be submitted in electronic format, preferably in PDF or Word formats. Bidders are encouraged to ensure all submissions adhere to the guidelines stated in the tender documentation, ensuring they are clear, complete, and professionally presented. Incomplete or incorrectly formatted submissions may result in rejection.
Bidders must provide a performance security that guarantees compliance with the service delivery conditions outlined in the tender. The specifics regarding the amount and form of performance security can be referenced in the detailed tender documentation. This is crucial for establishing trust and financial accountability regarding the successful bidder’s obligations.
The evaluation and selection process for awarding the contract will be based on a comprehensive review of submitted proposals, focusing on financial viability, technical capabilities, and claimant experience. Competitive pricing, service coverage, and the ability to manage claims effectively are pivotal criteria that will influence the selection. Notifications regarding the results of the evaluation will be communicated to all bidders accordingly.
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