Motor Insurance Services - NA

The eligibility requirements include being a registered entity within the insurance sector, having the requisite licenses and certifications, and possessing relevant experience in providing motor insurance services. Additionally, it’s crucial to maintain sound financial standing, demonstrated by the submission of audited financial statements, to affirm the capability of managing insurance liabilities.

Bidders must comply with specified technical specifications including detailed proposals of the insurance policies offered, robust risk management frameworks, and customer care infrastructures. Adherence to national insurance standards and quality benchmarks is essential to ensure seamless service provisions.

The Earnest Money Deposit (EMD) is a financial guarantee required from bidders, reflecting commitment to the bidding process. The exact amount will be outlined in the tender documents. The EMD serves as assurance that the bidder will proceed with the contract if they are awarded, safeguarding against casual bids.

Bidders must submit their proposals electronically via the official e-procurement platform designated by the Ministry of Power. It is essential to follow the specified guidelines and formats for document submission to mitigate the risk of disqualification due to non-compliance.

This tender includes special provisions aimed at supporting MSEs, fostering their involvement in government projects. Such provisions may include relaxed eligibility criteria, provision of financial backing, or specific incentives tailored to encourage smaller companies to participate in the bidding, thereby boosting their growth within the industry.