Gujarat Mineral Development Corporation Tender for Insurance Policies 2025-2026

Gujarat Mineral Development Corporation Limited (GMDC) invites qualified insurance service providers to participate in a tender for providing various insurance policies for the fiscal year 2025-2026. This tender offers an opportunity for insurance companies to supply comprehensive coverage tailored to GMDC's diverse operations in the Mines & Minerals sector. The tender aims to select a competent insurer to handle multiple policies, ensuring risk mitigation and compliance with government regulations. The process involves multiple stages, including preliminary, technical, and financial evaluations, with detailed documentation and certification requirements. The selected bidder will be responsible for delivering reliable insurance solutions, adhering to the specified timelines, and maintaining transparency throughout the process. This tender is ideal for licensed insurance providers with proven experience in handling large-scale corporate insurance policies, especially within the mining and mineral industry. The deadline for submission is June 26, 2025, with the entire process managed via the NProcure e-Procurement platform, ensuring a secure and transparent bidding environment.

The selected insurer will be responsible for providing comprehensive insurance policies covering various risks associated with GMDC's operations for the year 2025-2026. Key deliverables include:

• Provision of multiple insurance policies tailored to GMDC's operational needs.
• Issuance of insurance certificates and policy documents within stipulated timelines.
• Regular communication and updates regarding policy status and claims process.

The process involves the following steps:

1. Submission of technical and price bids via the designated e-Procurement portal.
2. Evaluation of bids based on technical competence, financial stability, and compliance with tender requirements.
3. Awarding of contract to the successful bidder.
4. Implementation and delivery of insurance policies as per agreed terms.

Bidder must ensure compliance with all specifications detailed in the tender document, including certification requirements and submission of mandatory documents such as the General Insurance Tender PDF. The scope also includes providing support during the claim process and maintaining service quality throughout the contract period.

• ✓ Must be a licensed insurance provider with valid registration and certification.
• ✓ Proven experience in handling large-scale corporate insurance policies, especially in the Mines & Minerals sector.
• ✓ Demonstrated financial stability with audited financial statements for the past three years.
• ✓ Must have successfully executed similar insurance contracts within the last five years.
• ✓ Ability to provide comprehensive insurance coverage including property, liability, and operational risks.

Qualification Parameter	Minimum Requirement
Valid Insurance License	Yes
Years of Experience	Minimum 3 years
Financial Turnover	Rs. 10 crore annually
Past Projects	At least 2 similar projects
Certification	ISO certification or equivalent

Applicants must submit all relevant documents proving eligibility, including license certificates, financial statements, and project references.

The insurance policies must include coverage for:

Parameter	Specification
Policy Types	Property, Liability, Marine, Motor, Employee Benefits
Coverage Limits	As specified in the tender document
Validity Period	12 months from the date of issuance
Claim Settlement	Within 30 days of claim submission
Certification	Must possess valid ISO or equivalent certification

Bidders should follow the process: 1. Review detailed technical requirements in the tender document. 2. Prepare technical bid including policy details, coverage scope, and compliance certificates. 3. Submit technical bid along with supporting documents before deadline. 4. Ensure all policies meet the specified standards and legal requirements.

The estimated budget for this tender ranges between Rs. 50 lakh and Rs. 1 crore, depending on the scope of coverage and policies selected. The financial proposal should include a detailed cost breakdown:

Cost Component	Estimated Cost
Premium for Property Insurance	Rs. X
Premium for Liability Insurance	Rs. Y
Marine & Motor Policies	Rs. Z
Employee Benefits	Rs. A
Administrative Charges	Rs. B

Payment terms are as follows: - 30% advance upon contract signing. - 40% after policy issuance. - Remaining 30% upon successful claim settlement and completion of contract. All financial bids must be submitted via the designated e-Procurement portal in the prescribed format, ensuring transparency and compliance with tender guidelines.

The bidding process involves the following steps:

1. Registration on the NProcure e-Procurement platform.
2. Download tender documents and review all requirements.
3. Prepare and submit technical and financial bids before the deadline.
4. Bid opening will be conducted publicly on the specified date.
5. Evaluation of bids based on technical competence, financial stability, and compliance.
6. Notification of successful bidder and contract award.

Key timelines:

Event	Date	Details
Bid Submission Start	06-06-2025	Bidders can start submitting bids
Bid Submission End	26-06-2025 14:30	Last date and time for submission
Bid Opening	26-06-2025 14:45	Preliminary evaluation
Technical Evaluation	26-06-2025 14:48	Technical assessment
Financial Evaluation	26-06-2025 14:50	Final bid assessment

All bidders must ensure submission of complete documentation and adhere to the specified timelines to qualify for evaluation.

Bids will be evaluated based on:

Criteria	Max Score	Weightage
Technical competence and experience	50	50%
Financial stability and cost	30	30%
Past performance and references	20	20%

Minimum qualifying scores: - **Technical**: 70% of total technical score - **Financial**: Competitive pricing within budget limits

Evaluation factors include bid completeness, compliance with specifications, past project success, and financial robustness. The highest-scoring bid meeting all criteria will be awarded the contract.

Date	Event	Details
06-06-2025	Bid Submission Start	Bidders can begin submitting bids online
26-06-2025	Bid Submission End	Final date for bid submission at 14:30 hours
26-06-2025	Bid Opening	Public bid opening at 14:45 hours
26-06-2025	Technical Evaluation	Completion by 14:48 hours
26-06-2025	Financial Evaluation	Completion by 14:50 hours
26-06-2025	Contract Award Notification	To be communicated after evaluation

All deadlines are strict; late submissions will not be accepted. Bidders are advised to review all dates carefully.

• Contact Person: SM Insurance Department
• Email: sm.insurance.co@gmdcltd.com
• Address: GMDC, Khanij Bhavan, 132 ft Ring Road, Gujarat University Ground, Vastrapur, Ahmedabad
• Phone: +91-79-40007517, 40007514, 40007515
• Support Team: (n)Procure Support, GNFC Ltd., S.G. Road, Bodakdev, Ahmedabad, Gujarat, 380054
• Support Contact: Toll-Free: 73590 21663, Email: nprocure@ncode.in
  Bidders are encouraged to contact the support team for clarifications, training, and technical assistance during the bidding process.

All interested bidders must download the tender document from the official NProcure platform before the deadline. The tender involves multiple stages, including preliminary, technical, and financial evaluations, with detailed documentation requirements. Bidders should ensure compliance with all certification and eligibility criteria, and submit their bids within the specified timelines. A free vendor training camp is organized every Saturday at (n)code solutions for bidders seeking assistance. The entire process is designed to promote transparency and fair competition, adhering to government procurement norms. For further details, refer to the tender PDF linked in the linked documents section.