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Housing And Urban Development Corporation Ltd Assets Insurance Service Tender Patna Bihar 2026 IRDA General Insurance Policy Coverage

Bid Publish Date

07-Jul-2026, 1:00 pm

Bid End Date

14-Jul-2026, 5:00 pm

Location

PATNA , BIHAR
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Progress

Issue07-Jul-2026, 1:00 pm
AwardPending
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Quantity

1

Bid Type

Single Packet Bid

Categories 1

INSURANCE SERVICE

Tender Overview

Organization: Housing And Urban Development Corporation Ltd. Procurement: Assets Insurance Service for an all-risk policy, including Standard Fire & Special Perils Cover with STFI, Terrorism, Earthquake, and optional extensions. Location: Patna, Bihar. Category: Insurance service—All Risk Policy with STFI, Terrorism, Earthquake coverage. Applicant context: IRDA-licensed insurers must quote price per IRDA guidelines; no BOQ items. Key differentiator: Policy must cover all risks under the specified categories with no unexpected premium hikes during the contract. Unique clause allows up to 25% contract quantity/duration variation at issue and post-issuance.

Technical Specifications & Requirements

  • Coverage scope: Standard Fire & Special Perils (SFSP) including STFI, Earthquake, Terrorism; optional extensions as specified.
  • IRDA compliance: Bidder must hold IRDA license for general insurance policies; price bid aligned to IRDA guidelines.
  • Underwriting clause: Price bid shall not increase premium rates during the contract period.
  • Policy integration: Ensure complete risk coverage for all assets under HUDCO as per tender terms; no BOQ items available.
  • Bidder reference: Example entity referenced in terms: M/s Pansalwa Cold Storage Pvt Ltd.
  • Eligibility: IRDA-licensed insurers only; submission must include required certificates and compliance.
  • Delivery/Activation: Contract activates on signing; duration adjustments permissible up to 25% with consent.

Terms, Conditions & Eligibility

  • EMD/Performance: Not specified in data; bidders must meet standard tender security practices.
  • Experience: Must hold IRDA license; provide proof of general insurance policy administration.
  • Delivery timeline: Coverage begins upon contract award and policy issuance; no fixed delivery period stated.
  • Payment terms: Linked to policy premium as per IRDA guidelines; schedule not detailed.
  • Documents: Upload mandatory certificates to comply with ATC; include insurance license, financials, and policy terms.
  • Penalty/Adjustments: 25% variation allowed pre/post contract issuance; penalties not explicitly listed.

Key Specifications

    • Coverage scope: Standard Fire & Special Perils (SFSP) with STFI, Earthquake, Terrorism
    • Additional coverage: Optional extensions as per tender terms
    • Compliance: IRDA license for General Insurance Policies
    • Guidance: Price bid must follow IRDA guidelines
    • Clause: No premium rate increase during contract period
    • Contract flexibility: Up to 25% scope/quantity/duration variation
    • Referenced entity: M/s Pansalwa Cold Storage Pvt Ltd (for ATC/undertakings)

Terms & Conditions

  • EMD and exact payment terms not specified in available data

  • IRDA license verification and adherence to IRDA guidelines required

  • 25% quantity/duration flex allowed at bid/contract issue

  • Policy must cover SFSP, STFI, Earthquake, Terrorism; optional extensions

Important Clauses

Payment Terms

Payment terms to be in line with IRDA guidelines; no explicit schedule provided here

Delivery Schedule

Policy issuance upon contract award; activation contingent on issuance by insurer

Penalties/Liquidated Damages

No explicit LD figures provided; standard tender terms apply

Bidder Eligibility

  • Must hold IRDA license for General Insurance Policies

  • Must submit certificates as per ATC and Corrigendum

  • Experience in delivering general insurance policies for public sector projects

Additional Tender Data

Commercial Details

Tender Category

Service

Bid To RA

No

Bid To RA Enabled

No

Item Category

Assets Insurance Service - All Risk Policy; Standard Fire & Special Perils Cover, Storm, Typhoon, Hurricane, Tornado, Flood and Inundation (STFI) Cover, Terrorism Cover, Earthquake Cover; Optional

Payment Timelines

Payments shall be made to the Seller within 45 days of issue of service delivery acceptance certificate (SDAC) and on-line submission of bills (This is in supersession of 10 days time as provided in clause 12 of GeM GTC)

Delivery Details

Delivery Locations

1

Delivery Cities

Patna

Delivery Pincodes

800001

Delivery Locations

ConsigneeAddressCityStatePincodeQuantityDelivery DaysAdditional Requirement
Satish Kumar Sinha800001,Mauryalok Complex block B-2, Second FloorPatnaBihar800001Project / Lumpsum Based-Total Number of Asset to be Insured (Quantity) : 3 Total Sum Insured for the Assets : 13919000

Authority Records

MINISTRY OF HOUSING AND URBAN AFFAIRSHOUSING AND URBAN DEVELOPMENT CORPORATION LTD

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End-to-end support — bid preparation, GeM registration, document filing & compliance by industry experts.

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Documents 6

GeM-Bidding-9553445.pdf

Main Document

Other Documents

OTHER

Other Documents

OTHER

Other Documents

OTHER

GEM General Terms and Conditions Document

GEM_GENERAL_TERMS_AND_CONDITIONS

GEM General Terms and Conditions Document

GEM_GENERAL_TERMS_AND_CONDITIONS

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Required Documents

1

IRDA general insurance license certificate

2

GST registration certificate

3

PAN card

4

Financial statements (latest audited)

5

Experience certificates related to general insurance policies

6

Technical bid documents and bid compliance

7

OEM/insurer authorizations (if applicable)

Frequently Asked Questions

Key insights about BIHAR tender market

How to bid in the HUDCO assets insurance tender in Patna 2026

Bidders must hold an IRDA license for general insurance policies, upload mandatory certificates, and ensure compliance with IRDA guidelines. Include GST, PAN, financial statements, and experience certificates. The policy must cover SFSP, STFI, Earthquake, and Terrorism; price bid should align with IRDA norms.

What documents are required for HUDCO general insurance bid Patna

Submit IRDA license certificate, GST registration, PAN, latest audited financials, insurance related experience certificates, bid compliance documents, OEM authorizations if applicable, and technical bid. ATC and corrigendum certificates must be attached to avoid rejection.

What coverage is included in HUDCO assets insurance contract Bihar

Policy must include Standard Fire and Special Perils with STFI, Terrorism, and Earthquake; optional extensions may be requested. Ensure total risk coverage for HUDCO assets as per tender terms; premium must not rise during contract duration.

What is the 25% scope clause in HUDCO tender Patna

The buyer may increase contract quantity or duration by up to 25% at contract issue; post-issuance, adjustments remain within 25%. Bidders must agree to revised scope and price if invoked.

When will insurance coverage activate for HUDCO Patna bid

Activation occurs upon contract award and policy issuance by the selected IRDA-licensed insurer; no separate delivery window is stated beyond policy issuance.

What standards or guidelines govern the HUDCO insurance bid 2026

Bids must follow IRDA guidelines for general insurance policies; ensure that premiums adhere to IRDA norms, and include required certifications to avoid disqualification.

What are the eligibility criteria for HUDCO assets insurance in Bihar

Eligibility requires IRDA general insurance license, ability to provide all-risk coverage (SFSP, STFI, Earthquake, Terrorism), and submission of mandatory documents plus ATC/corrigendum certificates.

Is there a fixed EMD amount for HUDCO Patna insurance tender

No specific EMD amount is provided in the available data; bidders should prepare standard tender security as per HUDCO procurement practice and IRDA-aligned terms.

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