Bids are Invited For Deployment of AR/VR solution for training purpose at PLHO, Regional offices and COX of all regions of Pipelines Division
N/A
Posted:
22 October 2024
Closed:
21 November 2024
EPROCURE
GEM
National Insurance Company Limited IND AS/IFRS System Integrator Tender 2026 India - 200 Crore Turnover Eligibility
Bid Publish Date
15-Jul-2026, 7:37 am
Bid End Date
04-Aug-2026, 1:00 pm
Location
Progress
Issue15-Jul-2026, 7:37 am
AwardPending
Quantity
1
Bid Type
Two Packet Bid
Tender Overview
National Insurance Company Limited of the Department of Financial Services seeks a System Integrator to implement IND AS/IFRS. The bid references a 3-year turnover benchmark of ₹200 Crore and adherence to RFP terms, including payment terms and potential scope adjustments up to 25%. Location details are not specified. The procurement is centered on high-level advisory and integration services for accounting standards transition, with per-RFP payment terms and an option to expand contract scope if required.
Technical Specifications & Requirements
- Product/Service: IND AS/IFRS implementation system integration services (per RFP scope)
- Standards/Compliance: IND AS/IFRS implementation compliance; no detailed technical specs published in the provided data
- Financials: Annual turnover target of ₹200 Crore (3-year) as audited by the time of submission; EMD and performance security as per RFP
- Contract Flexibility: Option Clause allowing up to 25% increase in quantity/duration at contract issue and post-issuance; scope expansion up to 25% with vendor consent for lump-sum work
- Other Terms: Payment terms and ePBG requirements to be taken directly from the RFP; scope of work defined in the uploaded SOW/ATC documents
Terms, Conditions & Eligibility
- EMD: As per RFP; exact amount not disclosed here
- Turnover: Minimum ₹200 Crore (3-year average) in last three financial years (2023-24 to 2025-26)
- Delivery/Implementation Timeline: Per RFP terms (not specified here)
- Payment Terms: Per RFP; details to be confirmed in the official tender documents
- Documentation: GST registration, PAN, experience certificates, financial statements, technical/compliance certificates, OEM authorizations as applicable
- Penalties/Performance: EPBG details to be confirmed in the RFP; 25% quantity/duration flex as stated
- Scope of Work: Per RFP/SOW uploaded with ATC; eligible bidders must align with IND AS/IFRS implementation requirements
Key Specifications
-
- Category: IND AS/IFRS implementation system integration services
-
- Standards: IND AS/IFRS compliance framework (no detailed sub-specifications provided in data)
-
- Financials: ₹200 Crore three-year turnover requirement (average) as per RFP
-
- Contract Flexibility: 25% quantity/duration adjustment capability
-
- EMD/EPBG: Amount/requirements to be confirmed in the RFP; per official tender documents
-
- Documentation: Submission of GST, PAN, experience/financials, technical/compliance certificates
Terms & Conditions
-
Key Term 1: Turnover criterion of ₹200 Crore over 3 years; audited balance sheets
-
Key Term 2: 25% scope/quantity expansion option; requires vendor consent for lump-sum work
-
Key Term 3: EMD and EPBG as per RFP; payment terms aligned to RFP provisions
Important Clauses
Payment Terms
Payment terms are defined in the RFP and ATC; actual schedule and milestones to be confirmed in tender documents
Delivery Schedule
Implementation timelines to be specified in the RFP; section indicates per-RFP delivery terms
Penalties/Liquidated Damages
EPBG requirements and performance penalties, if any, will be detailed in the RFP and SOW uploaded with ATC
Bidder Eligibility
-
Minimum three-year experience in system integration for financial reporting standards
-
Audited financial statements showing stable turnover; ₹200 Crore 3-year average target
-
Ability to comply with IND AS/IFRS implementation schedules and RFP payment terms
Additional Tender Data
Commercial Details
Tender Category
Service
Bid To RA
No
Bid To RA Enabled
No
Item Category
AR/VR Related Consulting Services - SELECTION OF SYSTEM INTEGRATOR FOR IMPLEMENTATION OF INDAS/IFRS
Payment Timelines
Payments shall be made to the Seller within 45 days of issue of service delivery acceptance certificate (SDAC) and on-line submission of bills (This is in supersession of 10 days time as provided in clause 12 of GeM GTC)
Pre-Bid & Qualification
Pre-Bid Date
27-07-2026 12:00:00
Pre-Bid Venue
(if required)
Delivery Details
Delivery Locations
1
Delivery Cities
24 Paraganas North
Delivery Pincodes
700156
Delivery Locations
| Consignee | Address | City | State | Pincode | Quantity | Delivery Days | Additional Requirement |
|---|---|---|---|---|---|---|---|
| Satish Kumar | 700156,18-0374, Plot no.CBD- 81, Rajarhat New Town, Kolkata-700156 | 24 Paraganas North | West Bengal | 700156 | Project / Lumpsum Based | - | - |
Authority Records
MINISTRY OF FINANCEFINANCIAL SERVICES DEPARTMENT
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Documents 10
GeM-Bidding-9607932.pdf
Main Document
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GEM General Terms and Conditions Document
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GEM General Terms and Conditions Document
GEM_GENERAL_TERMS_AND_CONDITIONS
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Required Documents
1
GST registration certificate
2
PAN card
3
Experience certificates in system integration for IND AS/IFRS or similar financial standards
4
Audited financial statements for last 3 years (2023-24, 2024-25, 2025-26)
5
EMD document as per RFP (amount and mode specified in tender)
6
Technical bid documents and compliance certificates
7
OEM authorizations (if applicable) and any required ISOs or standards certifications
8
Any other documents specified in the RFP/ATC
Frequently Asked Questions
Key insights about WEST BENGAL tender market
How to bid for NICL IND AS IFRS system integrator tender 2026?
Bidders must submit the required BIDDER SUBMISSION documents per the Terms and Conditions, including GST, PAN, experience, and financial proofs. Ensure compliance with the 200 Crore turnover criterion over three audited years and obtain EPBG as specified in the RFP. Follow RFP payment terms and the 25% scope flexibility clause.
What documents are required for NICL IND AS implementation tender in 2026?
Required documents include GST registration, PAN card, three-year audited financial statements, experience certificates in IND AS/IFRS projects, EMD documentation per RFP, technical bid and compliance certificates, OEM authorizations if applicable, and any SOW/ATC attachments referenced in the tender.
What is the turnover criterion for NICL IND AS project tender 2026?
The tender requires an annual turnover benchmark of ₹200 Crore over the last three financial years (2023-24, 2024-25, 2025-26) as audited, to be considered by submission time per the RFP.
What are the payment terms for NICL IND AS/IFRS system integrator bid?
Payment terms are as per the RFP. Suppliers should expect terms aligned with standard government procurement practices and the RFP’s exact schedule, milestones, and any advance or milestone-based payments specified in the tender documents.
What standards must NICL IND AS implementation comply with?
Bidders must comply with IND AS/IFRS implementation standards as specified in the RFP/SOW. The tender requires alignment to the IND AS framework during system integration and financial reporting transitions.
What is the scope flexibility clause for NICL IND AS project?
The contract allows up to 25% increase in contract quantity or duration at the time of issue, and post-issuance expansion up to 25% with the service provider's consent for lump-sum work, as per the ATC terms.
What is EPBG in NICL IND AS tender and how to secure it?
EPBG details are defined in the RFP; bidders must meet specified performance security requirements outlined in the tender, providing an equivalent financial guarantee to cover performance risk as per the official documentation.
Where can I find the SOW and ATC for NICL tender 2026?
The SOW and ATC are uploaded with the tender documents. Bidders should click the uploaded ATC link in the official portal to view exact scope, clauses, and any OEM requirements before bid submission.
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Documents 10
GeM-Bidding-9607932.pdf
Main Document
Other Documents
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Other Documents
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Other Documents
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Other Documents
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Other Documents
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Other Documents
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Other Documents
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GEM General Terms and Conditions Document
GEM_GENERAL_TERMS_AND_CONDITIONS
GEM General Terms and Conditions Document
GEM_GENERAL_TERMS_AND_CONDITIONS