NA Tender by Ntpc Limited (GEM/2025/B/6094118)
Custom Bid for Services - Insurance coverage against Fire & Burglary for assets
Tender Timeline
Title: Custom Bid for Services - Insurance Coverage Against Fire & Burglary for Assets
Reference Number: GEM/2025/B/6094118
Issuing Authority: Ministry of Power
The Custom Bid for Services under reference number GEM/2025/B/6094118 focuses on acquiring insurance coverage against fire and burglary risks for assets associated with the Ministry of Power. This initiative aims to mitigate risks associated with unforeseen circumstances and protect government investments and public interest.
Scope of Work and Objectives
The primary objective of this tender is to engage a proficient insurance provider that can offer comprehensive coverage against fire and burglary. The scope includes evaluating potential risks, offering tailored insurance products, and providing consistent support throughout the policy period. The successful bidder will be responsible for ensuring that all assets are adequately covered, advising on risk management, and assisting in the claims process when necessary.
Eligibility Criteria
To qualify for participation in this tender, bidders must meet specific eligibility requirements. These include being a registered insurance provider with the necessary regulatory approvals, demonstrating prior experience in providing similar coverage, and possessing a robust financial background ensuring capable management of claims.
Technical Requirements
Bidders are required to submit detailed technical proposals that include comprehensive outlines of their insurance packages. Proposals should demonstrate an understanding of the unique risks associated with fire and burglary in governmental infrastructure and assets while complying with industry standards and regulations.
Financial Requirements
The submission must articulate the financial requirements, including the premium structure and payment options for the insurance service. Additionally, bidders should detail their financial stability and offer a performance security to assure the Ministry of Power of their commitment to the service.
Document Submission Details
Bidders must follow strict submission guidelines. All documentation, including technical and financial bids, should be submitted electronically via the designated online platform. All files must be in accepted formats, providing a clear and professional presentation of all necessary information.
Special Provisions
This tender considers provisions for Micro, Small, and Medium Enterprises (MSEs). There are potential advantages for startups, encouraging participation. Suppliers must explore any potential financial or operational benefits available under the guidelines.
Evaluation Process
The evaluation of the bids will be a structured process wherein each proposal will be assessed based on technical competence, financial viability, and overall cost-efficiency. The selection will focus on providing the best coverage while ensuring excellent service support.
Delivery Locations
Insurance coverage will apply to assets throughout the operational footprint of the Ministry of Power, with a specific focus on governmental facilities that require robust protection against fire and burglary threats.
Contact Information
Further inquiries about the GEM/2025/B/6094118 tender can be directed to the appropriate channels once the tender is live. For the time being, prospective bidders are encouraged to keep updated through official communication channels associated with the Ministry of Power.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
9 DocumentsDocuments Required from Seller
- Certificate (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
Corrigendum Updates
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Frequently Asked Questions
The eligibility requirements include being a registered insurance provider with relevant regulatory approvals, demonstrating prior experience in offering insurance coverage against fire and burglary, and having robust financial credentials. Entities must also comply with local procurement regulations and demonstrate compliance with national quality standards related to insurance services.
Bidders must provide a variety of required certificates including proof of registration as an insurance service provider, valid licenses, compliance certificates with local regulations, and any other documentation explicitly outlined in the tender notice. Ensuring that all licenses are up-to-date is critical for the evaluation.
All submission documents must comply with specified formats as per tender guidelines. Generally, formats like PDF, Word, and Excel are accepted; however, it is crucial to verify in the detailed tender documentation. Submissions that do not adhere to these document formats may face rejection during the evaluation phase.
The financial evaluation will consider various factors including the premium pricing offered, the Earnest Money Deposit (EMD) details, and the structure of payment terms defined in the bid. Additionally, the evaluation team will assess financial stability and performance guarantees offered by the bidders to gauge their reliability.
Yes, there are specific benefits available for MSEs participating in this tender. These may include relaxed eligibility criteria and potential assistance with compliance to foster inclusion. Furthermore, provisions for startups have also been considered, which may ease some requirements and allow for a broader participation base under local content policies.
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