Overview
The Ministry of Finance, specifically the Department of Financial Services, is pleased to announce the invitation for bids for the services related to Assets Insurance for electronic equipment, encompassing Fire Insurance and Burglary Insurance Policies. This call for tender, reference number c7428033, aims to secure comprehensive insurance coverage for sensitive electronic assets against unforeseen risks.
Scope of Work and Objectives
The objective of this tender is to provide extensive insurance coverage for various electronic equipment utilized by the government. The selected insurance provider must demonstrate experience in managing insurance policies that cover electronic assets, ensuring protection against fire hazards and burglary incidents. The scope of work includes the development, management, and execution of the insurance policies, along with swift claims processing and customer support.
Eligibility Criteria
To qualify for participation in this tender, bidders must meet the following eligibility requirements:
- Be a legally registered entity within the relevant jurisdiction.
- Have prior experience in providing insurance services, specifically for electronic assets.
- Demonstrate the capability to handle claims efficiently and effectively.
Technical Requirements
Potential bidders are required to submit documented evidence verifying their experience and insured portfolio, detailing previous work with electronic equipment insurance. Insurance services must include risk assessment, policy issuance, ongoing support, and claims management. Additionally, bidders need to adhere to high-quality standards and compliance requirements outlined in the tender document.
Financial Requirements
Bidders must ensure financial stability by providing financial statements for the last three years. A bid may be deemed non-compliant if it doesn’t meet the financial benchmarks required for insurer performance.
Document Submission Details
Bidders are required to submit their proposals in the formats stated within the tender documentation. The submission process should be done electronically, ensuring all required documents are submitted by the specified deadline.
Special Provisions
This tender includes specific provisions for Micro, Small, and Medium Enterprises (MSEs) and startups, allowing them to participate in the bidding process and enhance their business opportunities. This initiative aligns with the government's commitment to improving local procurement processes.
Evaluation Process
The evaluation of bids will follow a structured approach, focusing on:
- Compliance with the eligibility criteria.
- Technical proposals and their alignment with tender specifications.
- Financial viability.
- Past performance and experience in similar projects.
The selection will be made based on a comprehensive scoring system that evaluates both technical and financial bids, ensuring the most advantageous offer is chosen.
Delivery Locations
The specific delivery locations for the insurance services will be identified within the tender documentation, ensuring all electronic equipment covered under the insurance falls under the designated purview.
Contact Information
For any inquiries regarding this tender, bidders are encouraged to consult the official communication channels as detailed in the tender documentation.
Overall, this tender represents a vital opportunity for insurance providers to extend their capabilities in the government sector, ensuring robust protection for electronic equipment vital for public service functions.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
4 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover *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 being a registered entity, possessing a valid license to operate within the insurance sector, and demonstrating prior experience in offering insurance services for electronic assets. Bidders must also provide evidence of financial stability through statements from the last three years. It’s essential for bidders to meet these criteria to participate successfully in the tender process.
The technical specifications require bidders to demonstrate experience in managing and issuing insurance for electronic equipment, including procedures for assessing risks and processing claims. Additionally, bidders should outline their methods for ensuring compliance with the desired quality standards and best practices specific to the insurance industry.
To participate in this tender, bidders must submit an Earnest Money Deposit (EMD) as stated in the tender documentation. The EMD serves as a security measure to ensure commitment to the bidding process. Bidders are required to provide details of the EMD in their financial proposal, and non-compliance with the EMD requirements could lead to disqualification.
Bids must be submitted electronically through the designated portal as outlined in the tender details. It’s important to ensure that all required formats and documentation are provided for a successful submission. Compliance with the submission guidelines will significantly impact the evaluation process.
MSEs have specific provisions under this tender that support their participation and competitiveness. These benefits may include relaxed eligibility criteria, additional points during evaluation for MSE participation, and assistance with navigating the bidding process, aligning with government policies designed to boost local businesses within the procurement framework.
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