Central Council For Research In Ayurvedic Sciences Insurance Services Tender All Risk & Fire Perils 2026

Tender Overview

The Central Council For Research In Ayurvedic Sciences seeks an insurance services supplier to provide asset protection through an All Risk policy including Standard Fire & Special Perils coverage, with an optional extension. The procurement appears to cover intangible and tangible assets under a single contract, with the possibility of scope adjustments as per contract terms. The tender emphasizes flexible quantity/duration changes up to 50% prior to contract issuance and within post-issuance adjustments, applicable to lumpsum service arrangements. The absence of BOQ items and explicit start/end dates suggests a broad, policy-based coverage contract rather than itemized asset-by-asset bidding.

Technical Specifications & Requirements

• Coverage type: All Risk Policy with Standard Fire & Special Perils Cover; optional additions may be available as per tender terms.
• Quantity/duration flexibility: up to 50% increase/decrease in contract quantity or duration at issuance and post-issuance (lumpsum-based service contracts may allow scope/value adjustments by mutual consent).
• Standards/benchmarks: Specific policy standards not disclosed; bidders should align with typical government asset insurance practices and fire & perils coverage frameworks.
• BOQ: No items listed; bidders should anticipate a single, consolidated insurance proposal covering all eligible council assets.
• Delivery/activation: Not detailed; assume policy activation upon contract award and prior to asset risk exposure.
• Eligibility: General insurance provider credentials; ensure compliance with local regulatory requirements for government asset insurance.

Terms, Conditions & Eligibility

• EMD amount: Not specified; bidders should verify security deposit requirements in the final tender documents.
• Option clause: Buyer may modify contract quantity/duration up to 50%; consistent with prior adjustments post-issuance.
• Delivery timeline: Not explicitly defined; policy activation typically occurs on contract award date.
• Payment terms: Not disclosed; verify payment schedule in procurement schedule.
• Documentation: Standard insurance/financial documents likely required (GST, PAN, IRDAI registration, bid security).
• BOQ absence indicates a holistic proposal rather than itemized line items; ensure alignment with central government insurance procurement norms.