NA Tender by National Forensic Sciences University (1008b52e7)
Assets Insurance Service - Terrorism Insurance, Fire Insurance, Others as per ATC Document; Standar
Tender Timeline
Tender Title: Assets Insurance Service: Terrorism and Fire Insurance
Tender Reference Number: 1008b52e7
Issuing Authority: Ministry of Home Affairs
Scope of Work and Objectives
The tender seeks qualified service providers to deliver Assets Insurance Services, specifically geared towards Terrorism Insurance, Fire Insurance, and other relevant coverages as outlined in the ATC Document. The objective of this tender is to ensure comprehensive protection of government assets against the risks associated with terrorism and fire incidents. Additionally, it includes coverage for property damage due to natural disasters such as storm, typhoon, hurricane, tornado, flood, and inundation.
Eligibility Criteria
To participate in this tender, the bidders must be registered entities with a valid business license to operate in the insurance sector. They must demonstrate experience in providing similar insurance services, alongside meeting specific regulatory requirements as outlined by the Ministry of Home Affairs.
Technical Requirements
Bidders should meet the technical requirements which include, but are not limited to, a detailed proposal outlining the terms of coverage, specific exclusions, and the financial strength of the insurance offering. Bidders must also be able to demonstrate compliance with quality standards and submit relevant certifications that establish their capacity to underwrite and manage the risks associated with terrorism and property insurance.
Financial Requirements
The financial proposal must include a detailed breakdown of the insurance premiums and any associated fees. Bidders are also required to present evidence of financial solvency, including audited financial statements for the past three years.
Document Submission Details
Interested bidders must submit their proposals in a structured format including all required documents as specified in the tender guidelines. The submission can be made electronically via the designated procurement portal. All documents must be submitted in acceptable formats as outlined in the submission guidelines section.
Special Provisions
This tender encourages participation from Micro, Small, and Medium Enterprises (MSEs) and startups by providing special provisions that may include simplified evaluation criteria. Firms demonstrating alignment with "Make in India" policies will receive favorable consideration.
Evaluation Process
The evaluation of the bids will be based on criteria that consider the proposal's technical merits, financial viability, and compliance with required regulations. Bids will be assessed on a scoring system that emphasizes the bidders' capacity to deliver comprehensive insurance solutions within specified timelines.
Delivery Locations
The services will be required for government assets located across various regions. Specific locations will be communicated upon finalization of the contracts.
Contact Information
For any inquiries regarding this tender, interested parties are encouraged to reach out directly to the procurement office at the Ministry of Home Affairs. Specific contact details for the responsible officer may be found on official procurement websites.
In summary, this tender for the Assets Insurance Service encompasses a range of coverages aimed at mitigating risks related to terrorism and fire, while providing opportunities for MSEs and startups to engage in government procurements.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
5 DocumentsDocuments Required from Seller
- Experience Criteria
- 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
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Frequently Asked Questions
The eligibility requirements include being a registered entity with a valid business license. Bidders must demonstrate previous experience in providing asset insurance services, specifically in sectors like terrorism and fire insurance. Compliance with all regulatory standards set by the Ministry of Home Affairs is mandatory.
To participate in this tender, bidders must submit relevant certificates that validate their ability to deliver the proposed services. These may include licenses to operate as an insurance provider, certificates of financial solvency, and any specific qualifications related to quality standards in the insurance sector.
The registration process requires interested bidders to create an account on the procurement portal where the tender is listed. Accepted document formats usually include PDF, Word, and Excel documents, depending on the tender requirements. It is crucial to adhere to the format specifications provided within the official tender guidelines.
Bidders may be required to provide a performance security that ensures the proper execution of the insurance policy. This is typically a percentage of the total bid value and will be specified in the tender documentation. This security may be forfeited if the awarded bidder fails to comply with the terms outlined in the contract.
Micro, Small, and Medium Enterprises (MSEs) benefit from this tender through preferential treatment in the evaluation process. MSEs may be provided with relaxed criteria for technical qualifications and defined preferences in terms of pricing, promoting their participation in government contracts. Special considerations are also designed to align with ‘Make in India’ policies and other developmental initiatives.
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