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TENDER NO. 03 NOTICE INVITING TENDER (NIT) NAME OF THE WORK :: STAFF GROUP PERSONAL ACCIDENTAL POLICY Sealed tenders are invited for the above mentioned work from reputed Insurance companies in two bid system. 1 Name of the work and category Group Personal Accidental (GPA) Insurance of Bank’s Existing Employees. 2 Cost of application/ tender document. Free of Cost. 3 Tender Details: Terms & conditions, other related Information is furnished hereunder. 4 Tender Floated on 26.06.2023 5 Place & Address for submission of tender The Chairman, AP GRAMEENA VIKAS BANK, RAM NAGAR, HANAMKONDA – 506001, HANAMKONDA (City & Dist.), TELANGANA STATE. 6 Contact person/telephone no: (In case of any Queries) Mr. Narla Nagaraju , Chief Manager (Per & HRD), APGVB , Head Office Ramnagar, Hanamkonda - 506001 email Id: smhrms@apgvbank.in ph:9440903928 7 Last Date and Time for Submission of Tender Up to 10.07.2023 at 03:00 PM 8 Date and Time of opening of Technical Bid 10.07.2023 at 03:30 PM 9 Date and Time of opening of Price Bid 10.07.2023 at 04:00 PM 10 Terms of payment of Bills, if any. Specify the minimum value of work for payment of running account bills. One Single payment 11 Validity period of the tender. 45 Days. 12 Taxes Premium Rates quoted should Exclude GST. GST will be paid by the bank. 13 Mode of Payment Payment will be made through Electronic mode only. 14 Insurance Broker Not Applicable Page No. 2 Tender Procedure for Submission: ENVELOPE ‘A’: This envelope to be placed with below mentioned Annexures and super scribed as “TECHNICAL BID for GPA Insurance Policy for APGVB Employees”. Annexure I : Declaration of acceptance from the Bidder Annexure II : Request for Quotation ENVELOPE ‘B’: This envelope should contain only the Price Bid and super scribed as “PRICE BID for GPA Insurance Policy for APGVB Employees”. Annexure III : The Price Bid stating the Net Premium quoted Sealed Envelopes A & B (as stated above) to be placed in a single cover (sealed) and super scribed as “Tender for Group Personal Accidental Insurance Policy for APGVB Employees”. The sealed envelope should be dropped in the tender box placed in our Head office before the Tender due date and time. Those who send the tender documents by post, have to ensure that the documents reach the office on or before the prescribed time & date. The Bank will not take any responsibility under any circumstances for courier/ postal delays. Eligibility Criteria: Only IRDAI (Insurance Regulatory Development Authority of India) registered Insurance Companies are eligible to participate in the Bid. The self attested copy of the IRDAI License should be submitted along with the Technical Bid by the bidder Terms and conditions: 1. The Bidder has to submit the relevant & readable files completely duly signed including covering letter as indicated in the tender document (including issued corrigendum if any. In case of any irrelevant or non-readable files, the bid may be rejected. 2. APGVB reserves the right to accept or reject any or all the tender in part or in full or may cancel the tender, without assigning any reason thereof. 3. APGVB reserves the right to relax/ amend/ withdraw any of the terms and conditions contained in the tender document at any stage of the Tender process without assigning any reason thereof. 4. APGVB reserves the right to modify/ change/ delete/ add any further terms and conditions prior to issue of purchase order. Page No. 3 5. The Technical bid will be opened first. The Price bids of the Companies, whose Technical bids are disqualified, will not be opened. 6. During the tender opening one authorized representative of the bidder must be present. 7. The Rate / Commercial / Technical Offer of the bidder should remain valid for 45 days. The bidder should ensure that all necessary approvals from their Regional Offices/Head Offices/Competent Authority should be in place before bidding. APGVB is well within its right to seek those approvals in case a bidder is selected as L1. In case the bidder is unable to provide the same, APGVB reserves the right to reject the L1 bidder. 8. Bids which are late/ vague/ conditional/ incomplete/ not conforming to the laid down procedure in any respect will be rejected. 9. Bids which are late/ vague/ sent by fax/ sent by email/ incomplete/ not conforming to the laid down procedure in any respect will be rejected. 10. In case of differences arising in the terms and conditions of the tender documents with the term(s), the decision of the APGVB shall prevail. 11. Arbitration- All disputes and differences which may arise between the APGVB and the Insurance Company shall be referred to Chairman of APGVB whose decision shall be binding on all concerned. 12. APGVB reserves the right to cancel or postpone the tenders at any stage without assigning any reason. APGVB reserves the right to negotiate with L1, L2 & L3 bidders in case the premiums are on the higher side and the bidder by bidding thus confirms to negotiate in such an eventuality. 13. APGVB may issue corrigendum to tender document before due date of submission of the bid. The bidder is required to read the tender document in conjunction with the corrigendum if any issued by APGVB. Sd/- (B Dayakar) General Manager (HR & Operations) Date: 26.06.2023 Page No. 4 Annexure I To Date: The Chairman Andhra Pradesh Grameena Vikas Bank, Ramnagar, Hanamkonda Warangal City Warangal Urban Dist - 506001, Telangana State. Dear Sir, Sub: - Tender for GPA Insurance Policy of APGVB Staff members Ref: Notice inviting Tender No. 03 /2023-24 With reference to the above, I am/ we are offering our co |