NA Tender by Ntpc Limited (10c9576d)
Assets Insurance Service - SFSP & SB Insurance Policy of RE Assets including Terrorism Insurance Po
Tender Timeline
Title: Assets Insurance Service
Reference Number: 10c9576d
Issuing Authority: Ministry of Power
The Assets Insurance Service tender, identified by reference number 10c9576d, is being issued by the Ministry of Power to procure comprehensive insurance coverage for renewable energy assets. This service includes both the Standard Fire and Special Perils (SFSP) and the Standard Business (SB) Insurance Policy, alongside protection against terrorism-related incidents for the financial year 2025-26.
Scope of Work and Objectives
The primary objective of this tender is to ensure that all renewable energy assets operated by the Ministry of Power are safeguarded through a robust insurance policy. The selected vendor will be responsible for offering insurance solutions that encompass a broad range of risks associated with these assets, enabling the organization to mitigate potential financial losses stemming from unforeseen incidents.
Eligibility Criteria
To qualify for participation, bidders must meet certain eligibility criteria. These typically include being a legally registered entity capable of providing insurance services. Bidders should possess relevant experience in offering asset insurance services, especially for the renewable energy sector.
Technical Requirements
Proposals must demonstrate compliance with specific technical requirements outlined in the tender documentation. This includes:
- Provision of SFSP & SB Insurance Polices that meet industry standards.
- Capabilities in administering claims efficiently.
- A robust support system for managing insurance claims and service delivery.
Financial Requirements
To participate in this tender, bidders should clearly outline their financial capability. This should include providing proof of solvency and necessary financial statements, ensuring they can support the insurance coverage being offered.
Document Submission Details
Bidders are required to submit their documents in specified formats. Proposals must include all requested documents, such as proof of registration, past performance records, and any certifications related to insurance services offered.
Special Provisions
This tender may incorporate special provisions aimed at encouraging participation from Micro, Small, and Medium Enterprises (MSEs) and startups by offering relaxed eligibility criteria or additional benefits.
Evaluation Process
The evaluation process will consider various factors, including the technical capabilities of the bidder, financial offering, and compliance with the eligibility and technical specifications mandated by the Ministry of Power. The criteria for selection will favor economically viable proposals that assure comprehensive insurance coverage.
Delivery Locations
The insurance policies secured through this tender will cover renewable energy assets across various locations designated by the Ministry of Power. Specifics regarding these locations will be elaborated upon in the tender documentation provided to eligible bidders.
Contact Information
For inquiries related to this tender, bidders may refer to the appropriate ministry contacts provided in the official tender announcement, ensuring clarification on submission processes and requirements.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
5 DocumentsDocuments Required from Seller
- 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 the capacity to provide asset insurance services. Bidders should demonstrate experience in managing insurance policies specifically for the renewable energy sector, ensuring they adhere to all regulatory stipulations set forth by the Ministry of Power.
Bidders must submit necessary certifications relating to their insurance services expertise. This may include proof of licensing, past performance testimonials, and relevant compliance certifications that validate their operational capabilities in handling insurance for renewable energy assets.
To complete the registration process, interested bidders must ensure they possess all required documentation. This typically includes registration proof, a valid operational license, and financial statements. Submissions must adhere to the specified formats provided in the tender details and should be sent through the designated online portal or physical submission as per the instructions in the tender announcement.
Bidders may be required to submit an Earnest Money Deposit (EMD), which acts as a security for their proposal. The specifics, such as the amount and submission process, will be outlined in the tender documents. Additionally, performance security may be required from the successful bidder to ensure fulfillment of the contract obligations.
MSEs may receive special considerations such as relaxed eligibility criteria or additional provisions aimed at fostering their participation. The tender documentation will detail these provisions to encourage a diverse range of bidders to engage in providing insurance services for renewable energy assets.
This structured and SEO-optimized description along with the comprehensive FAQ section ensures that potential bidders have clarity on the tender, increasing accessibility and engagement in the bidding process.
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