Tender Timeline
Tender Title: Assets Insurance Services
Tender Reference Number: GEM/2025/B/6115430
Issuing Authority
The Department of Fertilizers, operating under the Ministry of Chemicals and Fertilizers, invites bids for a comprehensive range of Assets Insurance Services.
Scope of Work and Objectives
The objective of this tender is to secure qualified bidders who can offer specialized insurance services encompassing money insurance, fire insurance, burglary floater, and fidelity guarantees. The selected providers will be responsible for delivering robust coverage options to ensure the protection of assets against various risks, including theft, fire-related damages, and other potential loss scenarios. Specifically, the scope includes:
- Providing Standard Fire & Special Perils Cover
- Offering Theft/Burglary Cover
- Addressing Property Damage Cover
The chosen contractor will facilitate the strategic implementation of these services, ensuring compliance with all relevant standards and regulations.
Eligibility Criteria
To qualify for this tender, bidders must meet the following requirements:
- Registered entities with licenses to operate in the insurance domain.
- Valid credentials confirming proficiency in assets insurance services.
- Experience delivering similar services to government or large-scale organizations will be an advantage.
Technical Requirements
Bidders must demonstrate:
- Comprehensive knowledge of the industry standards for insurance services.
- The ability to customize insurance packages that cater to the unique needs of the Department of Fertilizers.
- Compliance with all local regulatory requirements associated with insurance provision.
Financial Requirements
Bidders are required to provide evidence of their financial stability, which may include:
- Audited financial statements of the last two fiscal years.
- Proof of adequate liquidity to support insurance claims and services.
Document Submission Details
Prospective bidders must submit their tenders electronically via the specified online platform. All documentation must be formatted and presented according to the tender guidelines.
Special Provisions
This tender may extend benefits to Micro, Small, and Medium Enterprises (MSEs) and potentially include provisions aimed at promoting startups. Bidders should reference these benefits in their submissions where applicable.
Evaluation Process
The evaluation of proposals will be conducted based on:
- Compliance with the eligibility and technical requirements.
- Financial stability and overall cost-effectiveness of the proposed services.
- Past performance records and client testimonials.
Delivery Locations
The insurance services must cover assets located across various facilities managed by the Department of Fertilizers. Specific locations will be identified during the contract's negotiation phase.
Contact Information
For queries and clarifications related to this tender, bidders are encouraged to reach out to the official email contact provided by the Department:
- Email: mgr-contract@fagmil.nic.in
Please ensure all communications are directed to the above contact to facilitate efficient processing of inquiries.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
5 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover
- Certificate (Requested in ATC)
- Additional Doc 1 (Requested in ATC)
- Additional Doc 2 (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 this tender necessitate that bidders must be registered as entities with operational licenses specific to the insurance sector. Additionally, potential bidders should prove their expertise in providing assets insurance services with relevant certifications. Previous experience in delivering similar projects, especially for government clients, enhances the prospect of eligibility. Financial stability and adequate liquidity are also essential for undertaking this contract.
Bidders are required to adhere to industry-standard technical specifications while providing assets insurance services. This includes the ability to customize coverage packages based on the unique needs of the Department of Fertilizers. Compliance with local laws and regulations governing insurance practices and demonstration of sound knowledge in fire and theft insurance protocols are essential aspects of the technical specifications.
All submissions for this tender must be completed electronically through the designated online portal. Ensure that all documents meet the specified formats required for insurance services tenders. It is critical to follow the submission guidelines strictly to avoid disqualification. Late submissions or improperly formatted documents will typically not be entertained.
Micro, Small, and Medium Enterprises (MSEs) are encouraged to participate in this tender by availing potential benefits that may include reduced financial requirements, faster processing times, and support in document preparation. These measures are aimed at promoting inclusivity and supporting local businesses within the scope of insurance services provision. Compliance with national initiatives, including Make in India policies may also provide additional advantages to MSEs participation in government tenders.
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