NLC TAMIL NADU POWER Limited Tender by Nlc Tamil Nadu Power Limited (e6e57460)
Assets Insurance Service - Mega Risk Insurance; Property Damage Cover, Standard Fire & Special Peri
Tender Timeline
Tender Title: Assets Insurance Service - Mega Risk Insurance
Tender Reference Number: e6e57460
Issuing Authority: NLC TAMIL NADU POWER Limited
Parent Ministry: Ministry of Coal
Scope of Work and Objectives
The Assets Insurance Service - Mega Risk Insurance tender encompasses a comprehensive range of insurance services aimed at ensuring protection against various risks associated with property damage. The services include Standard Fire & Special Perils Cover, Business Interruption (Loss of Profit) Cover, Machinery Breakdown (MBD) Cover, Public Liability Insurance, and Marine Inland Transit Insurance among others. This tender aims to engage a capable insurance provider to mitigate potential risks and ensure the robust management of associated assets.
Eligibility Criteria
To be eligible for participation, bidders must confirm that they are registered entities with valid credentials. The specific criteria include:
- Registration under relevant state and central government regulations.
- Compliance with the necessary insurance industry regulations.
- Proven experience in providing insurance services that align with the scope outlined.
Technical Requirements
Bidders should demonstrate a robust understanding of the technical specifications required for the insurance coverage outlined in the tender. These specifications involve:
- Coverage of property and machinery against risks such as fire and breakdowns.
- Expertise in handling public liability concerns and marine inland transit risks.
- Ability to facilitate loss calculations and timely claim settlements.
Financial Requirements
Bidders must provide detailed financial records indicating their capability to undertake insurance services at the desired scale. Key financial requirements include:
- Submission of recent balance sheets and profit & loss statements.
- A proposal detailing premium rates and coverage terms.
Document Submission Details
Bidders are required to submit their proposals electronically, adhering to the specified guidelines. Required documents should include:
- Eligibility proof and registration details.
- Technical proposals that outline the approach towards fulfilling the insurance services.
- Financial proposals including pricing details and any other mandatory forms.
Special Provisions
Provisions are made for Micro, Small, and Medium Enterprises (MSEs) to encourage participation. Startups are also noted positively within this tender framework to enhance the competitive environment and encourage innovative solutions.
Evaluation Process
The evaluation of bids will follow a structured approach, focusing on compliance with eligibility criteria, technical proficiency, and financial viability. Proposals will be assessed based on their alignment with the specific scope and objectives of the required services.
Delivery Locations
Insurance services are to be applicable to NLC TAMIL NADU POWER Limited’s designated properties and assets situated within state jurisdiction.
Contact Information
While exact contact details will be shared during the tender process, bidders are encouraged to familiarize themselves with the terms and scope of this tender to prepare comprehensive and competitive proposals.
This Assets Insurance Service - Mega Risk Insurance tender provides an excellent opportunity for qualified and experienced bidders to collaborate with a key player in the energy sector, ensuring a comprehensive risk management strategy that safeguards vital assets.
General Information
Financial Information
Evaluation and Technical Information
Tender Documents
10 DocumentsDocuments Required from Seller
- 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
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Frequently Asked Questions
The eligibility requirements include being a registered entity with proper credentials, adherence to government regulations, and proven experience in the insurance domain. Bidders must demonstrate compliance with necessary guidelines to be considered for selection.
Bidders should submit relevant certificates confirming their registration and compliance with the insurance sector’s regulatory standards. This includes proof of experience in providing services as outlined in the tender, alongside any specific certificates required by local authorities.
The registration process for this tender involves ensuring that your entity meets all eligibility criteria and that all necessary documentation is prepared for submission. Bidders should focus on compiling both technical and financial proposals that align with the tender’s specifications.
Proposals must be submitted in the accepted document formats specified in the tender document. Generally, formats such as PDF and DOCX are preferred, ensuring that they can be easily opened and assessed during the evaluation process.
Payment terms typically require upfront payment of the premium based on the agreed coverage terms, with further specifics outlined in the contract upon selection. Additionally, a performance security may be mandated to ensure compliance with the terms of service throughout the contract duration.
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