Central Institute Of Plastics Engineering And Technology CIPET Solan Group Personal Accident Insurance for Students Tender 2025

Tender Overview

Central Institute Of Plastics Engineering And Technology (CIPET), under the Department Of Chemicals And Petrochemicals, seeks Group Personal Accident Insurance Service - Students (accidental death only) for the Solan, Himachal Pradesh campus. Estimated value is ₹10,000.00 with no specified EMD. The scope appears to cover student beneficiaries, with a focus on accidental death risk coverage, to be delivered within the institute’s academic framework. A code-flexible contract clause allows up to 25% adjustment in quantity or duration at issue and post-issuance, indicating scalable coverage. The tender emphasizes service delivery aligned to student safety during institute activities in Solan (PIN 171102).

Technical Specifications & Requirements

• No formal technical specifications are provided in the tender data.
• Key data points available include: procurement of Group Personal Accident Insurance Services for students with accidental death coverage; estimated value ₹10,000.00; location Solan, Himachal Pradesh; organization CIPET Solan under the Department of Chemicals and Petrochemicals.
• Two notable bid terms exist: (1) quantity/duration variability up to 25% at contract issue, (2) Excess Settlement enabling additional charges up to a defined percentage, with mandatory documentary support when invoicing.
• Absent are standard policy requirements (sum insured, beneficiary definitions, claim process, policy period), so bidders must seek clarifications on coverage specifics, policy period, and beneficiary activation.

Terms, Conditions & Eligibility

• EMD: Not specified in the tender data; bidders should confirm whether a security deposit is required.
• Contract Flexibility: Up to 25% increase/decrease in quantity or duration at contract issue; post-issuance same limit applies.
• Excess Settlement: Additional charges permitted up to a percentage of item-level total value with proper documentation.
• Delivery/Activation: No explicit policy period or activation terms published; bidders should request exact policy start date and coverage duration.
• Submission: GST, PAN, and organizational details typically expected; bidders must confirm documentation with CIPET Solan procurement office.