Central Mine Planning And Design Institute Limited Motor Insurance Service Tender Ranchi Jharkhand 4 Wheeler 1501-2500 CC 2026

Tender Overview

Central Mine Planning And Design Institute Limited (CMPDI), under Coal India Limited, invites bids for Motor Insurance Service covering 1 vehicle in the Ranchi, Jharkhand region. The scope specifies a 4-wheeler (1501 to 2500 CC) with Own Damage (OD) cover. Estimated value is ₹12,739. The initiative requires bidders to ensure regulatory compliance and timely renewal, aligned with government procurement practices. A key differentiator is the mandatory IRDA registration and the advance payment obligation under the Insurance Act, ensuring compliant underwriting and quicker policy issuance. This tender presents CMPDI’s vehicle insurance renewal needs, with policy activation following the end of the current policy term. Unique aspects include the explicit OD coverage scope for a single vehicle and the pre-pay requirement under Section 64VB, which supersedes other payment timelines.

Technical Specifications & Requirements

• Vehicle category: Motor Insurance for a 4-wheeler, 1501-2500 CC
• Coverage type: Own Damage (OD) insurance for 1 vehicle
• Policy activation: Coverage begins after completion of the current policy term
• Payment condition: Advance payment as per Section 64VB of Insurance Act, 1938; this clause supersedes other timelines
• Regulatory requirement: Upload IRDA Registration Certificate or latest renewal receipt at bid submission
• Value reference: Estimated contract value of ₹12,739; no BOQ items are listed
• Location: Ranchi, Jharkhand; emphasis on CMPDI procurement under Coal India Limited
• Documentation requirement: Compliance with bid certificates as stated in the terms and ATC clauses

Terms, Conditions & Eligibility

• EMD/monetary security: Not explicitly specified in the data; ensure confirmation during bid submission
• IRDA compliance: Mandatory IRDA license or renewal receipt; upload during bid
• Policy scope: OD cover for 1 vehicle; renewal aligned with existing policy end date
• Payment terms: Advance payment per Insurance Act Section 64VB; takes precedence over other timelines
• Eligibility: Registration and certificates as per bid document; ensure upload of all required certificates / documents
• Delivery/activation: Policy effective post current policy completion; no delivery window beyond standard renewal process
• Documentation: Include bid certificates, IRDA certification, vehicle details, and current policy documents