Central Coalfields Limited Fire Insurance Tender Chatra Jharkhand 2025 - 25% Quantity/Duration Clause, EMD ₹24400

Tender Overview

Central Coalfields Limited invites bids for comprehensive fire insurance and allied peril coverage for assets under Coal India Limited at Chatra, Jharkhand (825103). Estimated value ~₹ 19,49,236 with an EMD of ₹ 24,400. Coverage includes fire, allied perils, reinstatement value clause, local authority clause, and additions/alterations risk at 5% of sum insured, plus escalation at 10%. The tender permits a Contract quantity or duration adjustment up to 25% at issue and post-issue, with bidder obligations to accept revised scope. Central emphasis on risk transfer for mining assets and statutory compliance. Unique aspects include the option for excess settlement of invoices and a strict preference framework for MSEs and Make in India suppliers. This tender targets insurance service providers capable of delivering swift claims handling and policy management for government-owned coal assets. The opportunity is aligned with state-owned procurement and local content requirements. Key differentiators: explicit escalation framework, local authority inclusions, and additions/alterations cover.

Technical Specifications & Requirements

• Product/Service: Fire Insurance & Allied Perils coverage for assets
• Sum insured: not explicitly stated in data; coverage must reflect reinstatement value clauses
• Policy clauses: Reinstatement Value, Local Authority Clause, Omission to insure additions/alterations at 5% of sum insured, and Escalation at 10%
• Excess settlement option: allows additional charges up to a defined percentage of item-level total value; requires supporting documents
• EMD: ₹ 24,400; bid security requirements implied via tender
• Standards/Compliance: not specified; bidders should ensure statutory compliance and insurer credentials
• Delivery/Implementation: coverage activated for assets managed by Central Coalfields Limited; terms not further defined
• Purchase preference: MSEs and Make in India preferences apply; manufacturer/Service provider criteria apply for eligibility

Terms, Conditions & Eligibility

• EMD: ₹ 24,400 (tender security) via online/BD as applicable
• Experience/Eligibility: bidder must not be under liquidation or bankruptcy; undertaking required
• Assignment/Sub-contract: no assignment/sub-contract without prior written consent; joint liability remains
• Purchase Preference: MSEs and Make in India preferences apply per policy; L1 plus 15% option for contract allocation
• Delivery/Timeline: clauses permit quantity/duration adjustments up to 25%; delivery terms undefined beyond adjustment scope
• Payment Terms: not explicitly defined in data; typical government discipline applies; bidders should seek standard vendor payment arrangements
• Warranty/Support: not specified; bidders should confirm policy support post-issuance