Sambhar Salts Limited Insurance of Assets Tender 2026 Rajasthan - Insurance Service for Asset Protection and GST Terms

Tender Overview

Sambhar Salts Limited seeks an entrusted insurance of assets service covering its maintained assets, under the Department of Heavy Industry framework. While exact value and dates are not disclosed, the tender includes a critical option clause allowing a 25% quantity fluctuation at contracted rates, with extension rules tied to the original delivery window. bidders should note GST handling guidance, requirement for PAN, GSTIN, cancelled cheque, and EFT mandate, and the possibility of an optional site visit. A consortium arrangement is permitted, with shared accountability among members. The structure emphasizes risk transfer, site risk assessment, and compliance with standard insurance practices for government-related asset protection. This procurement emphasizes flexibility in quantity and delivery, while preserving budgetary controls and vendor accountability. The lack of explicit location in the data suggests review of the official portal for precise site details and asset scope. Key differentiators include the option-based quantity management, GST consideration, and vendor-code creation prerequisites. The procurement path requires rigorous documentation and potentially staged engagement for policy alignment and coverage specifics.

Technical Specifications & Requirements

• Insurance service scope: asset insurance for Sambhar Salts Limited assets; no technical BOQ items provided.
• Optional site visit: allowed at bidder’s cost with express indemnity terms.
• Consortium permissible: members share equal responsibility; lead partner to coordinate.
• GST advisory: bidders to determine applicable GST; reimbursement as actuals or at applicable rates up to quoted GST %.
• Vendor-code creation: submit PAN, GSTIN, cancelled cheque, and EFT mandate.
• Delivery/extension logic: option to increase quantity up to 25% during contract, with delivery time calculated per clause, minimum 30 days.
• Payment/claims: standard insurance claim processes to be aligned with contract.
• Documentation: ensure GST, PAN, bank details, and EFT authorization are ready for submission.

Terms, Conditions & Eligibility

• EMD: not specified in data; bidders must verify on portal and ensure readiness for bid submission.
• GST: bidders must check applicable GST; reimbursement as per actuals or the lower of applicable rates.
• Documents for bid: PAN, GSTIN, cancelled cheque, EFT mandate; potential OEM authorizations where applicable.
• Consortium: allowed; all members equally responsible; an undertaking is required.
• Site visit: optional; bidder bears costs and assumes liability indemnity.
• Delivery/option clause: quantity may vary by up to 25%; extended delivery periods governed by the same rates.
• Payment terms: standard for insurance procurement; verify with contracting authority on portal.
• Compliance: bidders must follow terms and provide complete documentation to participate.