Department of Financial Services Tender by Bank Of India (GEM/2025/B/6158248)
Cash In Transit Service - 2500; Driver Only; Not Applicable; Air Conditioned; 3; 2,Cash In Transit
Tender Timeline
GEM/2025/B/6158248: Cash In Transit Service
Issuing Authority
This tender is issued by the Department of Financial Services, under the Ministry of Finance.
Scope of Work and Objectives
The objective of this tender is to procure Cash In Transit Services which include specialized transportation of cash to ensure security and reliability. The contract covers Cash In Transit for vehicles characterized by their ability to transport cash securely and reliably. The services required under this tender will involve the operation of two designated vehicles, specifically tailored for Cash In Transit tasks.
Eligibility Criteria
To qualify for this tender, bidders must meet several eligibility requirements. Bidders should be registered entities capable of providing the expected services, which include maintaining an appropriate fleet of vehicles, having qualified personnel to operate them, and the necessary permissions to conduct cash transport services.
Technical Requirements
The technical requirements stipulate that bidders must provide vehicles that are:
- Air-conditioned for comfort.
- Equipped for security with advanced locking mechanisms.
- Sufficiently sized, with specifications adhering to the requirements of transporting cash securely. The bidders must also demonstrate experience in Cash In Transit Services with documented proof of prior contracts.
Financial Requirements
Bidders are required to submit financial documents that showcase their fiscal health and capacity to undertake the services described. This includes audited financial statements from the past three years, proof of any relevant insurance policies, and a sound proposal detailing pricing for the service.
Document Submission Details
All proposals and required documentation must be submitted electronically as per the forms specified in the tender announcement. To ensure compliance, bidders must carefully follow the submission format outlined in the tender documents.
Special Provisions
There are provisions available for Micro, Small, and Medium Enterprises (MSEs), which may include a reduction in financial thresholds or exemptions from certain requirements. Startups are also encouraged to participate, benefiting from additional provisions aimed at fostering innovation and competition in the sector.
Evaluation Process
The evaluation process will assess the submitted proposals based on technical capability, financial stability, and adherence to specified requirements. The selection criteria primarily focus on the cost-effectiveness and reliability of the proposed Cash In Transit Services.
Delivery Locations
The delivery of services is expected to take place within specified locations as determined by the Department of Financial Services. Bidders must be prepared to operate in various geographical locations as necessary.
Contact Information
For further inquiries regarding this tender, bidders are encouraged to reach out to the relevant contact points provided in the tender documentation to ensure clarity and prevent misunderstandings regarding tender specifications.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
7 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover
- Additional Doc 1 (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 being a registered entity capable of providing Cash In Transit services with proven experience, demonstrating financial stability through audited statements, and compliance with security regulations. Bidders must also hold the necessary permits for cash transportation.
Bidders must submit certificates including a valid business license, security permits for operating cash transport services, and proof of insurance coverage. Additionally, they may be required to provide certification of technical capabilities in Cash In Transit operations to meet compliance expectations.
The registration process involves submitting all necessary documentation electronically in accordance with the guidelines outlined in the tender. Ensure that each submission is formatted as specified, accompanied by a comprehensive proposal explaining your capability and experience in delivering Cash In Transit services.
The EMD is required as a part of the financial stipulations to ensure serious bidding. It must be submitted with the initial proposal and will be refundable upon completion of the bid process, provided the terms of the tender have been met. Bidders should ensure they understand these requirements to avoid disqualification.
Micro, Small, and Medium Enterprises (MSEs) are provided with specific advantages, such as relaxed eligibility criteria and potential financial support. This encourages wider participation and fosters competition among bidders, supporting the government’s policy of encouraging local enterprises in the Cash In Transit sector.
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