GEM

New India Assurance Company Limited IT Projects Milestone Basis Agency Hiring Mumbai Maharashtra 2025

Bid Publish Date

12-Dec-2025, 8:17 pm

Bid End Date

02-Jan-2026, 3:00 pm

EMD

₹2,00,00,000

Location

MUMBAI , MAHARASHTRA

Progress

Issue12-Dec-2025, 8:17 pm
AwardPending
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Quantity

1

Bid Type

Two Packet Bid

Tender Overview

New India Assurance Company Limited (NIACL) in Mumbai, Maharashtra invites bids for an Agency to manage IT projects on a milestone basis. The scope centers on project management services for IT initiatives with a substantial EMD of ₹2 Crore indicating high-value engagement. The procurement emphasizes milestone-based deliverables rather than a lump-sum scope, with a potential for contract quantity or duration adjustments up to 25% at award and post-issuance. Unique clause includes an excess settlement provision enabling allowable add-on charges within a capped percentage, requiring bidders to document and justify such charges. The tender signals a formal, large-scale IT governance engagement from a major public sector insurer in an urban center, underscoring compliance and governance requirements.

Technical Specifications & Requirements

  • Product category: IT project management agency services on a milestone-based contract for NIACL.
  • EMD: ₹2,00,00,000 (tender security/deposit amount).
  • Quantity/Duration flexibility: 25% increase/decrease in contract quantity or duration at contract issue and post-issuance.
  • Excess Settlement: Service providers may claim additional charges up to a specified percentage of item-level total value; must declare applicability in invoices with supporting documents.
  • BoQ items: No listed items; indicates a programmatic/management outsourcing approach rather than discrete hardware/software deliverables.
  • Compliance focus: Strong emphasis on governance, documentation, and milestone-based progress reporting.
  • Location: Mumbai, Maharashtra; procurement by a national insurer requires robust risk, security, and data handling capabilities.
  • ATC/document view: ATC file referenced; bidders should consult the document for detailed terms.

Terms, Conditions & Eligibility

  • EMD: ₹2 Crore; payment terms and form not explicitly stated, but typical bank guarantee/DD submission expected.
  • Option Clause: 25% quantity/duration adjustment permitted at contract issuance and post-award.
  • Excess Settlement: Additional charges allowed up to a specified percentage with mandated supporting documents.
  • BOQ: No discrete items; suggests a program management/PMO engagement rather than product-based tender.
  • Timeline: Start and end dates not provided in data; bidders should verify during bid submission.
  • ATC: Buyer-uploaded ATC document to be reviewed for exact compliance and conditions.
  • Jurisdiction: Public sector procurement with standard governance and reporting requirements; bidders should prepare for stringent audit and risk management processes.

Key Specifications

  • Product/service names: IT project management agency services (milestone-based)

  • Estimated value: Not disclosed; EMD: ₹2 Crore

  • Delivery/engagement model: Milestone-based delivery and governance

  • Standards/ Certifications: Not specified in data; consult ATC for standards

  • Experience: Not specified in data; assess from ATC doc

  • Warranty/Support: Not specified; verify in ATC

  • Location: Mumbai, Maharashtra

Terms & Conditions

  • EMD of ₹2 Crore is mandatory with bid submission

  • 25% quantity or duration adjustment permitted at issue and post-award

  • Excess settlement allows additional charges up to a capped percentage with supporting docs

  • No BOQ items are listed; expect PMO/governance scope rather than hardware/software deliverables

  • Refer to ATC document for precise amendments and compliance

Important Clauses

Payment Terms

EMD amount is ₹2 Crore; further payment terms to be detailed in ATC and contract documents

Delivery Schedule

Milestone-based delivery framework; exact milestones and timelines to be defined in contract and ATC

Penalties/Liquidated Damages

Penalties, if any, to be defined in contract and ATC; standard government procurement LD provisions may apply

Bidder Eligibility

  • Proven track record in IT project management outsourcing for financial services

  • Financial capability to mobilize resources for a ₹2 Crore EMD and project execution

  • Compliance with IT security, data handling, and governance standards as per NIACL ATC

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Required Documents

1

GST registration certificate

2

Permanent Account Number (PAN) card

3

Experience certificates for IT project management engagements

4

Financial statements of the bidder (last 2-3 years)

5

EMD submission document (bank guarantee or online payment receipt)

6

Technical bid documents and project approach

7

OEM authorizations (if applicable) and security/compliance certificates

8

ATC/document referenced by buyer (view/download the ATC)

Frequently Asked Questions

Key insights about MAHARASHTRA tender market

How to bid for NIACL IT projects milestone tender in Mumbai?

Bidders should submit the technical and financial bids along with EMD of ₹2 Crore, ensure GST/PAN, experience certificates, and ATC-compliant documents. Review the ATC for milestone criteria, and prepare a detailed project plan aligned to a milestone-based deployment model in Mumbai, Maharashtra.

What documents are required for NIACL IT projects procurement in Mumbai?

Required documents include GST registration, PAN card, 2-3 years of financial statements, experience certificates for IT PMO engagements, EMD submission, technical bid, OEM authorizations (if applicable), and the Buyer-uploaded ATC. Ensure all documents are current and notarized where required.

What is the EMD amount for NIACL IT projects tender in Maharashtra?

The EMD is ₹2 Crore. Submissions typically require a bank guarantee or online payment proof. Check ATC for acceptable EMD formats and validity period; ensure the EMD remains valid through tender evaluation and award phases.

What are the delivery terms for NIACL milestone-based IT contracts?

Delivery is milestone-based with a potential 25% adjustment to quantity or duration. Exact milestones, timelines, and acceptance criteria will be defined in the contract and ATC; bidders should prepare a detailed milestone schedule and governance framework.

What is the excess settlement provision in NIACL IT tender?

Excess settlement allows additional charges up to a specified percentage of the item-level total value, including addons. Bidders must declare applicability in the invoice and submit supporting documents; the total invoice amount cannot exceed the capped excess percentage.

Which location and organization are involved in the NIACL IT procurement?

The procurement is by New India Assurance Company Limited (NIACL) for IT project management services in Mumbai, Maharashtra. Bidders should align with public sector compliance, security, and governance standards typical for NIACL contracting.

What standards or certifications are required for NIACL IT projects bid?

Exact standards are detailed in the ATC; bidders should review the Buyer-uploaded ATC for required certifications and security controls. Prepare evidence of relevant IT governance, security practices, and prior PMO engagements in financial services.

How will the 25% quantity/duration adjustment be applied in NIACL tender?

The contract allows a 25% adjustment at the time of issue and post-award. Bidders should plan scalable resource deployment and a flexible project plan that accommodates scope/duration changes while maintaining milestones and governance.

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