Tender Notice for Assets Insurance Service - Contractors All Risk (CAR); Property Damage Cover, Standard Fire & Speci in KAMRUP, ASSAM

The eligibility requirements include being a registered entity with valid licenses, having experience in providing asset insurance services, and complying with regulatory standards. Bidders must demonstrate their capability through relevant documentation, showcasing their experience and expertise in offering Contractors All Risk (CAR) insurance and other associated covers.

Bidders are required to provide technical specifications detailing the coverage extent, types of perils included, and their methods of risk assessment. Compliance with quality standards and industry norms is crucial, ensuring the service will adequately protect against damages like floods, earthquakes, and theft. Evidence of previously provided insurance services and consistent adherence to compliance requirements is also necessary.

Bidders must note that an Earnest Money Deposit (EMD) is usually required as part of the submission. Upon contract award, the successful bidder will be required to provide performance security, which serves as a guarantee for fulfilling the contract. Payment terms will be elaborated in the contract, typically including milestone payments based on deliverables and assurances of service commencement.

Submissions will be evaluated based on a well-structured process that assesses technical proposals, financial offerings, and past performance. Notification of results will be communicated via official channels to ensure transparency. Bidders should allow for a review period after which successful candidates will be informed about their acceptance and further steps.

Yes, the tender includes provisions that specifically promote participation from micro, small, and medium enterprises (MSEs) and provides benefits to startups. This approach is aligned with the "Make in India" policies, encouraging local sourcing and procurement rules, enhancing the competitiveness of domestic players in the asset insurance sector while driving innovation and economic growth.