4 IndianOverseas Bank REQUEST FOR QUOTATION NIT FOR INSURANCE OF VEHICLE OF INDIAN OVERSEAS BANK FOR THE PERIOD OF 08th July 2021 To 07th July 2022 NIT REFERENCE NUMBER: CO/GAD/VEHICLE INSURANCE/08/2021-2022 DATED: 10.06.2021 GENERAL ADMINISTRATION DEPARTMENT, CENTRAL OFFICE INDIAN OVERSEAS BANK 763, ANNA SALAI ANNEXURE BUILDING CHENNAI 600002 NIT FOR INSURANCE OF VEHICLES OF INDIAN OVERSEAS BANK FOR THE PERIOD OF 08TH July 2021 TO 07th July 2022 Contents PART I-NIT TERMS & CONDITIONS ...................................................................................... 3 1. INTRODUCTION....................................................................................................... 3 2. DISCLAIMER ............................................................................................................. 3 3. SCHEDULE OF BIDDING PROCESS: ..................................................................... 4 4. BID SUBMISSION AND QUERIES: ......................................................................... 5 5. ELIGIBILITY CRITERIA FOR BIDDERS: ................................................................... 6 6. NIT INSTRUCTIONS .................................................................................................. 8 7. SUBMISSION OF BIDS THROUGH E-TENDER: ..................................................... 9 8. EVALUATON OF BIDS AND AWARDING THE CONTRACT ............................ 10 9. GENERAL TERMS AND CONDITIONS: ............................................................... 11 PART II- ANNEXURES ........................................................................................................... 15 ANNEXURE 1 - TECHNICAL BID ................................................................................. 15 ANNEXURE II - TECHNICAL BID ................................................................................. 16 ANNEXURE III – TECHNICAL BID ............................................................................... 17 ANNEXURE IV - FINANCIAL BID ................................................................................ 18 NIT FOR INSURANCE OF VEHICLES OF INDIAN OVERSEAS BANK FOR THE PERIOD OF 08TH July 2021 TO 07th July 2022 PART I-NIT TERMS & CONDITIONS 1. INTRODUCTION The Indian Overseas Bank (the Bank) is the Public sector bank with Central Office at Chennai. It has number of Offices and residential quarters situated in various cities across the country. The Bank has appointed Global Insurance Brokers as its Broker to solicit proposals through a two stage bidding process (comprising of Technical and Financial Bids) from IRDAI Licensed General Insurance companies operating in India for Vehicle Insurance to be availed by the Bank for the financial year (2021-22). Bidders are invited to submit their proposal in accordance with this Notice Inviting Tender (NIT). E-tenders are invited by the Indian Overseas Bank for Insurance cover of all the vehicles owned by the Bank, at various locations, for the financial year 2021-22 (08th July 2021 To 07th July 2022). Complete confidentiality should be maintained. Information provided here should be used for its intended scope and purpose. Retention of this NIT signifies your agreement to treat the information as confidential. You must agree to bear all costs related to the preparation of your proposal. 2. DISCLAIMER The information contained in this Limited Tender Enquiry (“NIT”) document or information provided subsequently to bidders or applicants whether verbally or in documentary form by or on behalf of Indian Overseas Bank (or Bank), is provided to the bidder(s) on the terms and conditions set out in this NIT document and all other terms and conditions subject to which such information is provided. This NIT document is not an agreement and is not an offer or invitation by the Bank to any parties other than the applicants who are qualified to submit the bids (hereinafter individually and collectively referred to as “Bidder” or “Bidders” respectively). The purpose of this NIT is to provide the Bidders with information to assist the formulation of their proposals. This NIT does not claim to contain all the information where each Bidder requires. Each Bidder may conduct its own independent investigations and analysis and is free to check the accuracy, reliability and completeness of the information in this NIT. The Bank makes no representation or warranty and shall incur no liability under any law, statute, rules or regulations as to the accuracy, reliability or completeness of this NIT. The information contained in the NIT document is selective and is subject to updating, expansion, revision and NIT FOR INSURANCE OF VEHICLES OF INDIAN OVERSEAS BANK FOR THE PERIOD OF 08TH July 2021 TO 07th July 2022 amendment. It does not purport to contain all the information that a Bidder require. Bank in its absolute discretion, but without being under any obligation to do so, can update, amend or supplement the information in this NIT. Such change will be published on the Website (www.iobtenders.auctiontiger.net) and it will become part of NIT. Indian Overseas Bank reserves the right to reject any or all the proposals received in response to this NIT document at any stage without assigning any reason whatsoever. The decision of the Bank shall be final, conclusive and binding on all the parties. Bank reserves the right to cancel the entire bid at any point of time, or disqualify any particular bidder, if it finds that fair play is not maintained by the bidder. 3. SCHEDULE OF BIDDING PROCESS: S.No Description of Information / Requirement Information / Requirement 1. Tender Reference CO/GAD/VEHICLE INSURANCE /08/2021-22 Number 2. Request for proposal 10. 06.2021 Released 3. Last date to send 20.06.2021 Written clarification /queries through mail or call regarding NIT 4. Bid Submission Mode. https://iobtenders.auctiontiger.net/EPROC/ Through e-tendering portal (Class II or Class III Digital Certificate with both Signing & Encryption is required for tender participation) 5. Last Date and Time for 30.06.2021on or before 1200 hours. (End submission of bids along time for submission will be as per e- with supporting tendering service provider server time). documents through the above e-tendering portal. 6. Date, time and venue 30.06.2021 at 14:30 hours at the Bank’s for opening the Information Technology Department, Technical BID through Chennai. e-tendering portal. 7. Date, time and venue Shall be intimated to the technically for opening the Price qualified bidders in due course. bid 8. Policy Inception Date 08th July 2021 (00:00 Hours) 9. Support person and e-Procurement Technologies Limited phone number for e- NIT FOR INSURANCE OF VEHICLES OF INDIAN OVERSEAS BANK FOR THE PERIOD OF 08TH July 2021 TO 07th July 2022 tender service provider for any help in 079-68136824 accessing the website Jainam: 6354919566 and uploading the [email protected] tender documents. Ekta Maharaj-9510813197 [email protected] Nisarg Thakkar [email protected] 4. BID SUBMISSION AND QUERIES: Bid submission, queries and all other terms and conditions are detailed in the following sections of this document. All communication with regard to this proposal needs to be directed to Global Insurance Brokers only. Your proposal must: Consider July 8th,2021 as effective date for Policy inception and administration Your proposal must clearly indicate the name of the responding organization, as well as the name, address and telephone number of the primary contact at your organization for this proposal. Your proposal must include the contact name for local service and account management team that IOB/ GIBL can call directly. Bids submitted in any other manner (For Example: Courier, E-Mail, Fax etc.,) shall be considered as invalid and would disqualify the bidder. No extension will be granted for submission. In case of any difficulty, in bid submission you may contact any of the below mentioned officers: Shri. Bishwa Ranjan, Manager – IOB Tel. +91-44-28519630. Mr. Arun Prasad ,CSE–GIBL Cell:+918610469171 email id: [email protected] Ms.Chitra Seshadri ,Manager–GIBL Cell:+919677100394 email id: [email protected] Questions concerning the NIT or its attachments should be directed to Global Insurance brokers only. IOB and M/s. Global Insurance Brokers Limited assume no responsibility or liability for any costs you may incur in responding to this NIT, including attending meetings, site visits. NIT FOR INSURANCE OF VEHICLES OF INDIAN OVERSEAS BANK FOR THE PERIOD OF 08TH July 2021 TO 07th July 2022 5. ELIGIBILITY CRITERIA FOR BIDDERS: In the first stage, only the ‘Technical Bids’ will be opened and Technical Bids in respect of only those bidders who fulfill the eligibility criteria indicated below will be considered. Eligibility Criteria: i. The insurance Company must be registered with IRDAI. ii. The Solvency Margin of 1.5 for Pvt sector or Solvent Guarantee by GOI as on 31/03/2021. iii. The company should have at least ‘5 years’ experience in the field of general insurance. iv. The company should have Pan India presence as the offices of IOB are spread across India. The Technical Bid will also be evaluated based on the points to be awarded as per following table: - Sr. Criterion Proof of document Points Total Number of Years Since License for 1 general insurance was obtained from 10 IRDAI as on FY 2019-2020 1. Upto Six Years IRDA licence copy 4 2. More than Six to Eight Years 6 3. More than Eight to Ten Years 8 4. Above Ten Years 10 Gross Total Premium