Housing And Urban Development Corporation Ltd Assets Insurance Service Tender Patna Bihar 2026 IRDA General Insurance Policy Coverage
Progress
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
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- Coverage scope: Standard Fire & Special Perils (SFSP) with STFI, Earthquake, Terrorism
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- Additional coverage: Optional extensions as per tender terms
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- Compliance: IRDA license for General Insurance Policies
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- Guidance: Price bid must follow IRDA guidelines
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- Clause: No premium rate increase during contract period
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- Contract flexibility: Up to 25% scope/quantity/duration variation
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- Referenced entity: M/s Pansalwa Cold Storage Pvt Ltd (for ATC/undertakings)
Terms & Conditions
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EMD and exact payment terms not specified in available data
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IRDA license verification and adherence to IRDA guidelines required
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25% quantity/duration flex allowed at bid/contract issue
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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
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Must hold IRDA license for General Insurance Policies
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Must submit certificates as per ATC and Corrigendum
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Experience in delivering general insurance policies for public sector projects
Financial Results
| Rank | Seller | Price | Item |
|---|---|---|---|
| L1 | UNITED INDIA INSURANCE COMPANY LIMITED Under PMA | Item Categories : Assets Insurance Service - All Risk Policy; Standard Fire & Special Perils Cover, Storm, Typhoon, H | |
| L2 | IFFCO-TOKIO GENERAL INSURANCE COMPANY LIMITED Under PMA | Item Categories : Assets Insurance Service - All Risk Policy; Standard Fire & Special Perils Cover, Storm, Typhoon, H | |
| L3 | UNIVERSAL SOMPO GENERAL INSURANCE COMPANY LIMITED Under PMA | Item Categories : Assets Insurance Service - All Risk Policy; Standard Fire & Special Perils Cover, Storm, Typhoon, H |
Tender Data
Bid Details
Quantity
1
Bid Type
Single Packet Bid
Bid Validity
180 (Days)
Bid Type
Service
Evaluation
Total value wise evaluation
Tech Clarification Time
2 Days
Preference & Exemptions
EMD Required
No
MII Compliance
Yes
MSE Purchase Preference
Yes
MSE Preference Band
L1+15%
MSE Exemption/Relaxation
No
Startup Exemption/Relaxation
No
Bid Splitting Applied
No
Requirements
Arbitration Clause
No
Mediation Clause
No
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
| Consignee | Address | City | State | Pincode | Quantity | Delivery Days | Additional Requirement |
|---|---|---|---|---|---|---|---|
| Satish Kumar Sinha | 800001,Mauryalok Complex block B-2, Second Floor | Patna | Bihar | 800001 | Project / Lumpsum Based | - | Total Number of Asset to be Insured (Quantity) : 3 Total Sum Insured for the Assets : 13919000 |
Authority Records
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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
Required Documents
IRDA general insurance license certificate
GST registration certificate
PAN card
Financial statements (latest audited)
Experience certificates related to general insurance policies
Technical bid documents and bid compliance
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.