West Bengal State Electricity Distribution Company Ltd
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WEST BENGAL STATE ELECTRICITY DISTRIBUTION COMPANY LTD. (A Govt. of West Bengal Enterprise) Vidyut Bhavan: Block-DJ, Sector-II Bidhannagar: Kolkata – 700 091. Phone: 03323197676,23197500,23197502 CIN No:U40109WB2007SGC113473 Corporate Terminal Claims Department, 6th Floor Website:www.wbsedcl.in Tender Notice:WBSEDCL/G&GI/EDLI/2017-18/97 Dated: 10.06.2017 Notice Inviting Tender for Group Insurance Policy in lieu of Employees Deposit Linked Insurance Scheme(EDLI) ,1976 Offers are invited from all IRDA approved Life Insurance Companies having EDLI Permission from Central Provident Fund Commissioner, New Delhi for EDLI Coverage. The Offer can be submitted upto 2.00P.M on04/07/2017,in the Chamber of the Addl. General Manager(F&A) Corporate Terminal Claims, WBSEDCL, 6th Floor, Vidyut Bhavan, Kolkata-700091. The Technical Bids will be opened on the same day i.e. 04/07/2017 (Tuesday)at 2.30 P.M. The Financial Bids will be considered only after scrutiny & evaluation of the Technical Bids. The date of opening of the Financial Bids will be three days after opening of the Technical evaluation i.e on 07/07/2017(Friday) at 3 P.M. Tender Notice, other formats and conditions can also be downloaded from the Company Website www.wbsedcl.in. General Manager(F&A) Corporate, WBSEDCL Instructions to Bidders, Scope Of Work and Terms & Conditions Group Insurance Policy in lieu of EDLI 1976 The Company (WBSEDCL) intends to take Group insurance policy of Rs. 6,02,000/- per employee (Flat Coverage ) for death coverage of total 8675 (Tentative) persons consisting of Employees and Part Time Sweepers in line with Employees’ Deposit Linked Insurance Scheme 1976 under Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 i.e a Group Insurance Policy in lieu of EDLI 1976 for a period of one year ,starting from 01/08/2017 and ending on 31/07/2018 . The lists of data for the above employees and Part Time Employees are given in soft copy under the file name “Data for EDLI _201706.xls. It is to be noted that death by committing suicide clause and actively at work clause are not applicable in our case as the schemes are in continuance from the past years. The following points are to be noted , complied and a declaration to this effect is to submitted by the bidders: A. 1) Written confirmation required that the bidders have got the approval/consent of IRDA for providing such Group Insurance Policies. A photocopy supporting the same is also to be forwarded along with the quotations. 2) Copy of the Draft Policy. 3) Document Format/ Claim Format required for settlement of claim. 4) Copy of the letter issued by the Provident Fund Commissioner’s office approving your company for offering Group Insurance Scheme in lieu of EDLI duly attested by the authorized signatory of the insurance Company. 5) Undertaking that the Claims of the Company will be settled within 30 days. Non Settlement of claims within 30 days would attract an interest at SBI Lending rate applicable for Cash Credits. 6) The Bank Account Number of the Insurance Company along with name of the bank and IFSC Code for making RTGS payment of the Premium. 7) Only insurance companies having a good track record of servicing need to apply. 8) Undertaking has to be given by the Insurance Company that they have not been debarred from any other Government Company or PSU for participating in their tenders. 9) No subsequent increase in premium rates will be allowed under any circumstances. 10) Secrecy of information/documents to be ensured at all times. 11) Written confirmation that the bid validity shall be kept for a period of 3(three) months from the last date of submission of tender. 12) If any member leaves the service of the Company (WBSEDCL) the assurance affected in respect of him will be terminated and the Insurance Company will refund/adjust the proportionate premium relating to the un-expired period for which the premium has been paid. 13) The Company (WBSEDCL) has the right to exit from the Policy after the policy year. 14) The Insurance Company shall have to continue with the assurance for the full policy year and cannot exit within the Policy year with the statutory coverage as required. 15) On the death of a member while in service, the sum assured under the Assurance of his life will become payable to the Nominee or Nominees appointed by the Member under the Provident Fund. If no Nominations subsists or if the nomination relates only to part of the benefits, then the whole sum assured or part thereof, as the case may be, shall become payable to the members of his family in equal shares as provided in the Employees Deposit Linked Insurance Scheme 1976. 16) In case the amount of sum assured has to be enhanced subsequently due to any reason, on account of Statutory Enhancement in assurance benefit (by EPFO)or otherwise, premium on the additional coverage will be paid at the same rate as that of the original Note: Bidders are required to give written confirmation as mentioned above B. The rate of premium must be inclusive of all taxes, stamp duty, etc . However, the service tax has to be separately quoted. In case the amount of sum assured has to be enhanced subsequently due to any reason, on account of Statutory Enhancement (by EPFO) or otherwise, premium on the additional coverage will be paid at the same rate as that of the original. The bidders shall quote the rates both in English words as well as in Figures. In case of difference in rates between words and figures, the lesser of the two shall be treated as valid rate. In case of calculation errors, the decision of the Company will be final and binding on the bidder and may even lead to rejection of the tender. C. Provisional premium amount for the Policy year 2017-18 (i.e from 01/08/2017 to 31/07/2018) of the said Group Insurance Policy will be paid based on the data attached herewith. The Policy will start from 01/08/2017 and will remain valid upto 31/07/2018.However, final premium amount will be computed and based on subsequent addition/deletion of the number of employees which will be intimated on monthly basis. Final Reconciliation in this respect will be done annually and refund of overpaid premium( if any) will be settled by/in favour of the Insurance Company. D. In case you are interested in such a policy as mentioned above, you may quote your premium for the same. WBSEDCL reserves the right to accept / reject any quotation(s) either in full or in part without assigning any reasons thereto. In the event of any ambiguity in the policy proposal with regard to any aspect, the interpretation of WBSEDCL shall be final and binding on the "Insurer". Acceptable bids will be evaluated on lowest quoted rate/premium basis for each insurance company separately. E. The offer shall be duly signed & stamped by the authorized signatory of the Insurance Company on each page in a sealed envelope subscribing “ Reference No. of N.I.T, & Date. There should be two sealed Envelopes inside the main Envelope i.e marked A) Technical Bid and the second one as B) Financial Bid. Your quotation along with other relevant information sought above be submitted on or before 04 th July, 2017 (Tuesday) at 2:00 PM at our office mentioned in the Tender Notice. The quotation shall be opened at 2:30 PM on 04 th July, 2017. The bidders may depute their authorized representative to remain present during the bid opening. Any quotation received after closing time shall not be considered F. Cost of bidding document: Tender fees, EMD, etc. are not applicable. The bidder shall bear all costs associated with the preparation and submission of its bid. G. Pre- Bid Discussion : Pre-Bid Discussion will be held on 22 th June,2017 (Thursday) in the Chamber of GM (F&A) Corporate , 7 th Floor, Bidyut Bhavan, WBSEDCL, Salt Lake : Kolkata: 700091 at 12.30 P.M. On the basis of pre-Bid Discussion there may be subsequent modifications in the terms & conditions of this tender in the Larger interest of the Tender process. H. Bid Opening and Evaluation WBSEDCL will open the Bids on the date as specified in NIT. Initially, the ‘Technical Bid’ (Stage 1) FORM A shall be opened and the ‘Price Bid’ Stage-II of only those bidders whose technical bids is acceptable to the Company based on the qualifying criterion shall be opened subsequently. The three main parameters which will be the qualifying criterion for stage I will be the EDLI License from EPFO, Claim settlement Ratio and Solvency Ratio. I. Evaluation of Bids WBSEDCL will examine the bids to determine whether they are complete, whether any computational errors have been made, whether the documents have been properly signed and whether the bids are generally in order and conforms to all the terms, conditions and specifications of the Tender Specification documents without any deviations. During bid evaluation, WBSEDCL may ask the bidder for clarification of its bid. The request for clarification and the response shall be in writing, and no change in the price or substance of the bid shall be sought, offered or permitted. J. Award of Contract: Award Criteria WBSEDCL will obtain the insurance policy from the successful Bidder whose bid has been determined to be the lowest evaluated bid ( L-1) i.e lowest quoted premium for the coverage of Rs 6,02,000/- (Rupees Six Lakhs two thousand Only).