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Procurement Opportunity: Custom Bid for Services - Bankers Indemnity Policy in CUDDAPAH, ANDHRA PRADESH

Bid Publish Date

10-Feb-2025, 7:45 pm

Bid End Date

03-Mar-2025, 5:00 pm

Value

₹25,00,000

Progress

RA
Issue10-Feb-2025, 7:45 pm
Reverse AuctionCompleted
AwardCompleted
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Quantity

1

Bid Type

Two Packet Bid

Categories 1

Andhra Pragathi Grameena Bank announces a tender for Custom Bid for Services - Bankers Indemnity Policy in CUDDAPAH, ANDHRA PRADESH. Quantity: 1. Submission Deadline: 03-03-2025 17: 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

Custom Bid for Services - Bankers Indemnity Policy

Authority Records

MINISTRY OF FINANCEANDHRA PRADESH GRAMEENA BANK

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Bid Preparation GeM Registration Document Filing

Free consultation · 24h response

Documents 7

GeM-Bidding-7504499.pdf

Main Document

Scope Of Work Document

SCOPE_OF_WORK

Payment Terms & Condition

PAYMENT

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

Experience Criteria

2

Bidder Turnover

3

Certificate (Requested in ATC)

4

OEM Annual Turnover *In case any bidder is seeking exemption from Experience / Turnover Criteria

5

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

Reverse Auction Schedule

Completed

Start

14-Mar-2025, 2:00 pm

End

15-Mar-2025, 5:52 pm

Duration: 28 hours

Reverse Auction Document

✅ RA concluded. Check financial results for final rankings.

Technical Results

S.No Seller Date Status
1
BAJAJ GENERAL INSURANCE LIMITED   Under PMA
03-03-2025 15:23:50
2
NATIONAL INSURANCE COMPANY LIMITED   Under PMA
03-03-2025 16:41:42
3
THE NEW INDIA ASSURANCE COMPANY LIMITED   Under PMA
03-03-2025 12:47:17
4
THE ORIENTAL INSURANCE COMPANY LIMITED   Under PMA
03-03-2025 16:16:23
5
UNITED INDIA INSURANCE COMPANY LIMITED   Under PMA
28-02-2025 15:34:32

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
L1UNITED INDIA INSURANCE COMPANY LIMITED   Under PMA Winner ₹19,66,102Item Categories : Custom Bid for Services - Bankers Indemnity Policy
L2NATIONAL INSURANCE COMPANY LIMITED   Under PMA₹19,71,998Item Categories : Custom Bid for Services - Bankers Indemnity Policy
L3THE NEW INDIA ASSURANCE COMPANY LIMITED   Under PMA₹40,00,000Item Categories : Custom Bid for Services - Bankers Indemnity Policy

🎉 L1 Winner

UNITED INDIA INSURANCE COMPANY LIMITED   Under PMA

Final Price: ₹19,66,102

Frequently Asked Questions

Key insights about ANDHRA PRADESH tender market

What are the eligibility requirements for Custom Bid for Services - Bankers Indemnity Policy?

The eligibility requirements encompass a series of criteria that prospective bidders must satisfy. These include being a registered entity with a valid operating license for insurance services. Bidders are also required to present documented proof demonstrating compliance with specific experience criteria and minimum annual turnover as mandated in the tender. Moreover, MSEs may qualify for exemptions and should provide supporting documents to facilitate their eligibility evaluation.

Which required certificates must be submitted with my bid for GEM/2025/B/5933913?

Bidders must include several required certificates in their submissions, notably certificates confirming compliance with the eligibility criteria, financial capabilities, and any other documentation referenced in the Request for Quotation. The list of required certificates is detailed in the linked documentation and is crucial for ensuring bids are considered valid during the evaluation phase.

What is the registration process for participating in this tender?

The registration process to participate in the tender involves several pivotal steps. Bidders must first ensure they are registered with the appropriate authorities, following which they must fill out and submit the official bid forms along with the required documentation, as clearly outlined in the tender documents. Entities seeking special exemptions must adhere to additional stipulations in terms of documentation and proof of eligibility.

What formats are accepted for the documents submitted for this tender?

The accepted document formats for submissions pertaining to this tender include standard PDF files. Bidders are encouraged to ensure all documents are neatly formatted and organized to facilitate ease of review during the evaluation process. All linked documents provided with the tender will detail format specifications further.

What are the performance security requirements for the Bankers Indemnity Policy tender?

The performance security requirements for the tender stipulate that the successful bidder must provide a performance security bond to ensure compliance with the terms of the contract awarded. This bond acts as a financial guarantee of the bidder's commitment to deliver quality service. Details regarding the amount and conditions associated with the bond will be provided in the tender documentation.