Bid Publish Date
25-Apr-2025, 6:45 pm
Bid End Date
26-May-2025, 4:00 pm
Location
Progress
RAChhattishgarh State Warehousing Corporation (cgswc) announces a tender for Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Perils Cover, Storm, Typhoon, Hurricane, Tornado, Flood and Inundation (STFI) Cover, RSMD; Optional in RAIPUR, CHHATTISGARH. Quantity: 1. Submission Deadline: 26-05-2025 16: 00: 00. Last date to apply is approaching fast!
| S.No | Seller | Date | Status |
|---|---|---|---|
| 1 | ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED Under PMA | 23-05-2025 18:32:17 | |
| 2 | IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED Under PMA | 26-05-2025 15:09:05 | |
| 3 | INDUSIND GENERAL INSURANCE COMPANY LIMITED Under PMA | 26-05-2025 15:53:01 | |
| 4 | NATIONAL INSURANCE COMPANY LIMITED Under PMA | 26-05-2025 15:15:56 | |
| 5 | THE NEW INDIA ASSURANCE COMPANY LIMITED Under PMA | 26-05-2025 15:37:17 | |
| 6 | THE ORIENTAL INSURANCE COMPANY LIMITED Under PMA | 26-05-2025 14:11:35 |
These are the final prices after the reverse auction event. Prices may be lower than initial bids.
| Rank | Seller | Final Price | Item |
|---|---|---|---|
| L1 | NATIONAL INSURANCE COMPANY LIMITED Under PMA Winner | ₹3,38,42,784 | Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril |
| L2 | IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED Under PMA | ₹3,38,77,784 | Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril |
| L3 | THE ORIENTAL INSURANCE COMPANY LIMITED Under PMA | ₹7,42,98,200 | Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril |
| L4 | ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED Under PMA | ₹8,79,25,940 | Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril |
| L5 | THE NEW INDIA ASSURANCE COMPANY LIMITED Under PMA | ₹9,50,85,020 | Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril |
🎉 L1 Winner
NATIONAL INSURANCE COMPANY LIMITED Under PMA
Final Price: ₹3,38,42,784
Please sign in or create an account to view contract details and download result documents.
Start
31-May-2025, 3:00 pm
End
02-Jun-2025, 4:04 pm
Duration: 50 hours
Reverse Auction Document
✅ RA concluded. Check financial results for final rankings.
Quantity
1
Bid Type
Two Packet Bid
Bid Validity
30 (Days)
Bid Type
Service
Evaluation
Total value wise evaluation
RA Qualification Rule
H1-Highest Priced Bid Elimination
Tech Clarification Time
2 Days
Arbitration Clause
No
Mediation Clause
No
Tender Category
Service
Bid To RA
No
Bid To RA Enabled
Yes
Item Category
Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Perils Cover, Storm, Typhoon, Hurricane, Tornado, Flood and Inundation (STFI) Cover, RSMD; Optional
End-to-end support — bid preparation, GeM registration, document filing & compliance by industry experts.
Free consultation · 24h response
Main Document
OTHER
OTHER
ATC
GEM_GENERAL_TERMS_AND_CONDITIONS
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
Key insights about CHHATTISGARH tender market
The eligibility requirements include being a registered entity capable of providing asset insurance. Bidders must hold valid licenses and demonstrate financial stability, along with prior experience in handling similar insurance contracts. Additionally, compliance with local regulatory frameworks is necessary to ensure that all bids meet the required standards.
Prospective bidders must submit valid insurance licenses, business registration certificates, and any relevant certifications that demonstrate compliance with business operational standards. This documentation is crucial as it affirms the bidder's authority to engage in insurance provision and their commitment to maintaining compliance with industry norms.
To register, participants must visit the GEM platform and create an account. After registration, bidders should follow the on-screen prompts to fill in the necessary details for submitting their proposals. It's essential to ensure that all registration information is accurate and complete, as this affects eligibility in the evaluation process.
Tender documents must be submitted in specified formats as outlined in the tender guidelines. Typically, PDF and DOC formats are acceptable for the main proposal documents, while spreadsheets for financial details should be submitted in Excel or comparable formats. It is critical to ensure compliance with the document submission formats to avoid disqualification.
All bids must be submitted electronically through the GEM platform. Participants should ensure timely submission of their proposals, adhering to the guidelines regarding document format and content. Late submissions will typically not be entertained, making punctuality crucial in the bidding process.
By ensuring full compliance with each section's requirements, bidders can enhance their chances of selection while contributing to important initiatives under the aegis of the Food Civil Supplies and Consumer Protection Department Chhattisgarh.