Tender Timeline
Tender Title: Liability Insurance Service
Reference Number: 119fdb094
Issuing Authority: Ministry of Micro Small and Medium Enterprises
The Liability Insurance Service tender aims to procure comprehensive insurance coverage, primarily focusing on product liability insurance, director and officer liability coverage, and associated indemnity insurance. This initiative is fundamental in ensuring that businesses in various sectors are protected against potential financial losses arising from legal claims related to product defects or managerial decisions, thus promoting overall economic stability and trust in business operations.
Scope of Work and Objectives
The scope of this tender involves the comprehensive provision of liability insurance services tailored to meet the specific needs of businesses under the Ministry of Micro Small and Medium Enterprises. The objectives are to ensure that covered entities can effectively navigate and mitigate risks associated with product liability and managerial decisions, ensuring compliance with applicable regulations and maintaining robust operational integrity.
Eligibility Criteria
To qualify for this tender, applicants must be registered entities under the relevant authorities and possess the necessary licenses to operate in the insurance sector. Detailed eligibility criteria include experience in providing similar insurance services and having the capability to cover the specialized risks involved.
Technical Requirements
Proposals must demonstrate technical capability through prior successful implementations of similar liability insurance services. Bidders are required to submit documentation proving their ability to cover product liability and director and officer risks, along with compliance with industry standards.
Financial Requirements
Bidders should provide detailed financial statements, including proof of sufficient capitalization, to ensure they can meet claims and operational liabilities as they arise. A comprehensive understanding of financial stability is crucial.
Document Submission Details
All tender submissions must be completed electronically, and necessary documents should be submitted in the specified formats outlined in the tender documents. Bidders must ensure that all submissions are complete and adhere strictly to the guidelines provided to avoid disqualification.
Special Provisions
This tender includes special provisions aimed at Micro, Small, and Medium Enterprises (MSEs). Eligible MSEs will be given priority in the evaluation process, promoting inclusivity and enhancing economic growth within the sector. Startups that meet the necessary criteria will also benefit from supportive measures that facilitate their participation in this tender.
Evaluation Process
Evaluation will be conducted based on a comprehensive review of technical proposals, financial viability, and overall capability to fulfill the requirements specified in the tender. A structured scoring system will be utilized to ensure a transparent evaluation process, with particular weight given to the experience and past performance of bidders.
Delivery Locations
The insurance services are expected to cover entities operating under the Ministry of Micro Small and Medium Enterprises across various regions. Specific delivery locations will be defined based on the operational footprints of the awarded bidders.
Contact Information
For any inquiries related to this tender, interested parties can contact the Ministry of Micro Small and Medium Enterprises through the provided channels. Detailed information will be available in the official tender documentation.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
7 DocumentsDocuments Required from Seller
- Experience Criteria
- Bidder Turnover
- 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
Similar Tenders
Frequently Asked Questions
The eligibility requirements include being a legally registered entity, possessing necessary licenses to operate in the insurance sector, and demonstrating relevant past experience in providing similar liability insurance services. Bidders must show compliance with any applicable regulations to safeguard their bid against disqualification.
Required certificates include proof of registration with regulatory bodies, licenses specific to the insurance sector, and any relevant quality assurance certifications. These documents demonstrate a bidder’s credibility and capability to provide the necessary liability insurance coverage proficiently.
Interested bidders should visit the designated official portal for registration to participate in the tender. They must complete the electronic registration process, providing all necessary documentation and information as outlined in the tender guidelines to ensure their eligibility for submission.
Bidders are typically required to submit documents in PDF or Word format as specified in the tender document. Each submission must be complete, including all necessary forms and supporting documentation, to comply with the submission requirements outlined in the announcement.
Bidders must provide performance security to guarantee the fulfillment of contractual obligations once awarded the tender. This security might need to be structured as a bank guarantee or other approved means, ensuring financial responsibility and adherence to all stipulated conditions throughout the contract period.
Probable Bidders
Get Tender Alerts
Get notifications for similar tenders