NORTH EASTERN ELECTRIC POWER Corporation Limited Tender by North Eastern Electric Power Corporation Limited (39381cbc2)

Tender Title and Reference Number

Assets Insurance Service - Electronic Equipment Insurance, Terrorism Insurance, Fire Insurance, All Risk Policy - Reference Number: 39381cbc2

Issuing Authority/Department

The tender is issued by the NORTH EASTERN ELECTRIC POWER Corporation Limited, under the Ministry of Power. This prestigious organization is focused on ensuring the effective management of electric power and ensuring robust insurance services for assets.

Scope of Work and Objectives

The primary objective of this tender is to provide comprehensive Assets Insurance Services covering Electronic Equipment Insurance, Terrorism Insurance, Fire Insurance, and other critical risks associated with electrical assets. The scope encompasses specialized coverage for all risks, including Standard Fire & Special Perils Cover, Storm, Typhoon, Hurricane, Tornado, and Flood and Inundation (STFI). Qualified bidders will be required to propose a detailed insurance plan that meets the specific requirements laid out in the tender documents.

Eligibility Criteria

To participate in this tender, bidders must fulfill the eligibility criteria. Bidders are required to be duly registered entities, possess relevant licenses for insurance provision, and demonstrate financial stability. Emphasis will be placed on having past experience in providing similar insurance services, particularly for electronic equipment and other associated risks.

Technical Requirements

Bidders must comply with several technical requirements, which include:

• Detailed coverage plan and inclusions for various risks
• Evidence of prior successful implementations of similar policy coverage
• Capability to handle claims efficiently and effectively, particularly in urgent scenarios

Financial Requirements

Bidders must demonstrate sufficient financial capability to offer insurance coverage that aligns with the value of the assets insured. A comprehensive breakdown of financial projections, including premiums and potential claims, is critical to ensure that bidders can meet the insurance liabilities.

Document Submission Details

The submission of documents must adhere to the guidelines specified in the tender documents. All required documents should be submitted electronically in the accepted formats outlined in the tender.

Special Provisions

This tender encourages participation from Micro, Small, and Medium Enterprises (MSEs) and offers benefits conducive to startup companies. These provisions aim to foster competitiveness and ensure diverse participation in the tendering process.

Evaluation Process

The evaluation of bids will follow comprehensive criteria that include technical capability, financial viability, and bid pricing. Prior experience and service quality will also be vital factors for selection. A multi-stage evaluation approach will be in place, ensuring a robust assessment of all proposals.

Delivery Locations

Insurance services provided through this tender will cover assets located in various regions under the purview of the NORTH EASTERN ELECTRIC POWER Corporation Limited. Specific locations will be clarified upon contract award.

Contact Information

For further inquiries and clarification regarding the tender, interested parties may contact the issuing authority through official communication channels shared in the tender documentation.