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Invitation to Bid - Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril in RAIPUR, CHHATTISGARH

Bid Publish Date

25-Apr-2025, 6:45 pm

Bid End Date

26-May-2025, 4:00 pm

Progress

RA
Issue25-Apr-2025, 6:45 pm
Reverse AuctionCompleted
Award13-Jun-2025, 1:53 am
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Quantity

1

Bid Type

Two Packet Bid

Categories 1

Chhattishgarh 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!

Additional Tender Data

Commercial Details

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

Authority Records

FOOD, CIVIL SUPPLIES AND CONSUMER PROTECTION DEPARTMENTSTATE WAREHOUSING CORPORATION

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Documents 5

GeM-Bidding-7775637.pdf

Main Document

Other Documents

OTHER

Other Documents

OTHER

Buyer uploaded ATC document

ATC

GEM General Terms and Conditions Document

GEM_GENERAL_TERMS_AND_CONDITIONS

Required Documents

1

Certificate (Requested in ATC)

2

Additional Doc 1 (Requested in ATC)

3

Additional Doc 2 (Requested in ATC)

4

Additional Doc 3 (Requested in ATC)

5

Additional Doc 4 (Requested in ATC) *In case any bidder is seeking exemption from Experience / Turnover Criteria

6

the supporting documents to prove his eligibility for exemption must be uploaded for evaluation by the buyer

Corrigendum Updates

1 Update
#1

Update

13-May-2025

Reverse Auction Schedule

Completed

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.

Technical Results

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

Reverse Auction Results Final Prices

These are the final prices after the reverse auction event. Prices may be lower than initial bids.

Rank Seller Final Price Item
L1NATIONAL INSURANCE COMPANY LIMITED   Under PMA Winner ₹3,38,42,784Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril
L2IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED   Under PMA₹3,38,77,784Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril
L3THE ORIENTAL INSURANCE COMPANY LIMITED   Under PMA₹7,42,98,200Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril
L4ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED   Under PMA₹8,79,25,940Item Categories : Assets Insurance Service - Fire Insurance, Floater Declaratory Basis; Standard Fire & Special Peril
L5THE NEW INDIA ASSURANCE COMPANY LIMITED   Under PMA₹9,50,85,020Item 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

Contract / Result Documents 1

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Frequently Asked Questions

Key insights about CHHATTISGARH tender market

What are the eligibility requirements for GEM/2025/B/6172566?

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.

What certificates are required for the tender?

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.

How can I register to participate in the bidding process?

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.

What formats are accepted for tender documents?

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.

What is the method of submission for the bids?

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.