COAL INDIA LIMITED Tender by Northern Coalfields Limited (GEM/2025/B/6175735)
Motor Insurance Service - As provided in Details for vehicles to be insured; Above 2500 CC,Motor In
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Tender Title: Motor Insurance Service
Tender Reference Number: GEM/2025/B/6175735
Issuing Authority: COAL INDIA LIMITED (Ministry of Coal)
Scope of Work and Objectives
This tender aims to procure comprehensive Motor Insurance Services for vehicles exceeding 2500 CC and additional categories such as cars with a 1498 CC engine size. The solicitation seeks to ensure that the insurance policy covers a range of requirements, including but not limited to collision, liability, and theft coverage for operational vehicles owned by the organization.
The primary objectives include ensuring financial protection against damages to the vehicles and liabilities arising from their operation. The selected service provider will be responsible for offering competitive pricing, comprehensive coverage, and exceptional service delivery throughout the insurance period.
Eligibility Criteria
Bidders must comply with certain eligibility criteria to participate in this tender. The entities must be legally registered as business providers for insurance services, possessing requisite licenses as per state insurance regulatory authorities. Proof of prior experiences in providing motor insurance services, particularly for large organizations, will be an added advantage.
Technical Requirements
Bidders are required to meet specific technical requirements which include:
- Valid insurance broker or agency license
- Professional indemnity coverage
- Demonstration of financial stability and capability to ensure claims settlements
- Adherence to national insurance norms and regulations
Financial Requirements
Bidders must outline their financial requirements which may include submission of a competitive bid reflecting the potential cost of insurance premiums. Financial statements over the past three years must be submitted to showcase fiscal stability and capability.
Document Submission Details
All required documents must be submitted in a sealed envelope to the designated authority by the specified deadline. It is important to ensure compliance with submission formats and include all relevant details to avoid rejection of bids.
Special Provisions
Micro, Small, and Medium Enterprises (MSEs) will benefit from relaxed eligibility criteria. Special attention will be given to proposals that align with the government's 'Make in India' initiative, promoting local procurement and supporting domestic industries.
Evaluation Process
Bids will undergo a thorough evaluation process involving technical assessment and financial proposals. The assessment criteria will focus on the completeness of submitted documents, the provider's past experience, and the value offered.
Delivery Locations
The services are expected to be applicable across various operational zones managed by COAL INDIA LIMITED. Specific delivery locations will be communicated directly to the successful bidder after the final selection.
Contact Information
For further clarifications, please reach out to the tender issuing authority directly through official communication channels.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
5 DocumentsDocuments Required from Seller
- Certificate (Requested in ATC)
- Additional Doc 1 (Requested in ATC)
- Additional Doc 2 (Requested in ATC)
- Additional Doc 3 (Requested in ATC)
- Additional Doc 4 (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 include the necessity to be a registered entity in the insurance sector with active licenses. Bidders must demonstrate prior experience in handling motor insurance for corporate fleets. Detailed submissions asserting compliance with regulatory frameworks are pivotal to succumbing to evaluation standards.
Bidders should include a copy of their valid insurance broker or agency license along with any professional indemnity certificates that validate their financial capability. Such certificates ascertain compliance with the regulatory framework governing the insurance industry.
The registration process dictates that interested bidders must register on the official GEM platform, where they will create a profile, and submit requisite documents meeting eligibility standards. Following this, bids can be uploaded for evaluation.
Bidders must provide a performance security which generally is a percentage of the total proposed bid value. This security ensures compliance and performance according to the agreed terms and conditions laid out in the issued tender.
The evaluation and selection process involves a rigorous review of both technical and financial submissions. The technical evaluation will assess the offered coverage, compliance with specifications, and previous experiences, while the financial evaluation will consider the overall cost-effectiveness of the provided insurance solutions.
This structured approach ensures that the most competent and cost-effective service provider is selected to provide motor insurance services to COAL INDIA LIMITED.
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