5, J N Heredia Marg, Ballard Pier, Mumbai. Pin code 400001 Tender Enquiry No. BL/LT/MO/16/13-14 (Group Term Life Insurance) Dated: 18 th September, 2013 Closing Date: 23 rd Sept 2013 at 3.00 PM The Insurance Companies Dear Sir / Madam, has decided to cover its 175 non-officer employees under Group Term Life Insurance Scheme. As per the policy terms, in the event of death of the employee (by any means) the employee or the nominee of the deceased employee will receive a lump sum amount equivalent to 48 times of the Basic Pay or a Minimum of Rs.4,00,000/- whichever is higher. Accordingly, we have attached all employee related details like Employee Code, Name, Date of Birth, Gender and Individual sum assured, with tender document. Kindly quote best premium in respect of Group Term Life Insurance for the total sum assured of Rs.116,808,592/- The insurance company should enclose the following documents along with their offer:- 1. Documentary evidence of IRDA Accreditation Certificate 2. Proof for gross premium for the year 2012/13. 3. A confirmation from the General Manager/Regional Head stating : a. Premiums quoted are valid for the period of the contract. b. There is no violation of any rule stipulated by IRDA. c. Acceptance of all the terms & conditions mentioned in the tender documents. d. The insurance company should confirm their ability to cover all the risks required to be covered by us. Submission of Offer Please note that the offer shall be submitted in two parts comprising of: Part A would be Techno-Commercial Offer and Part B would be as Price Bid as applicable. The two offers shall be given in the prescribed format enclosed. Each part shall be separately sealed in a separate envelope and super scribed as Techno- Commercial Offer and Price Bid as applicable. Both the envelopes shall be sent to the Company in common envelope sealed and super scribed as Tender Enquiry No. BL/LT/MO/16/13-14 due on 23 rd Sept 2013.
The Company reserves the right to accept or reject any or all offers or to split the order without assigning any cause. Incomplete offers are liable to be rejected. No deviations whatsoever shall be allowed. The following needs to be noted while submitting quotation. 1. There are 175 employees to be covered 2. The retirement age is 60 years 3. The total sum assured is Rs.116,808,592/-. 4. Any eligibility criteria or assumptions made are to be clearly mentioned while submitting the quotations. No eligibility conditions after the acceptance of any tender will be accepted 5. The Company reserves the right to accept or reject any or all the offers without assigning any cause. 6. Incomplete offers are liable to be rejected. No deviations whatsoever shall be allowed. Terms & Conditions: 1. Eligibility to quote Insurance Company should have completed three years after being registered with IRDA. Also, gross premium for the year 2012/13 should be at least Rs 200 Crores. (Proof to be attached by the insurance company) 2. On the basis of the above information, kindly quote premium rates and the amount in the format (Techno Commercial Offer & Price Bid) enclosed. Hard copy of this should be deposited in our office before closing time of this tender. Service tax, as applicable, will be paid separately and should not form part of the quote. 3. Clarification, if any, shall be sought not later than 2 days before the last date of submission of offer. 4. If required, the past performance of the insurers may be taken into consideration for evaluation of offers to award and distribute the insurance business accordingly. 5. The premium quoted shall be firm and final, held valid during the entire course of the policy period. No provisional rate of premium should be offered. Conditional offers, if any, can be rejected by us. Offers with deviations in terms and conditions as mentioned in our tender documents can be rejected. Your quotation should be submitted by your office based in Mumbai only. 6. Total of the premium shall be quoted in both words and figures. Any correction / overwriting / scoring / cancellation shall be counter signed. If there is any difference in words and figures, the words will supersede figures. In case of illegibility, the interpretation of Balmer Lawrie shall be final. All entries shall be in English language only. 7. Incomplete offers are liable to be rejected. 8. Notwithstanding anything stated above, Balmer Lawrie reserves the right to assess the Insurer s capacity and capability to perform the Insurance business, should the circumstances warrant. Such an assessment will be in the overall interest of Balmer Lawrie. 9. Submitting the offer does not guarantee Balmer Lawrie accepting your offer. Balmer Lawrie reserve the right to accept or reject any offer or offers or part thereof at its sole discretion, without assigning any reason. 10. Balmer Lawrie takes no responsibility for delays, loss or non-receipt of the offers sent by the Insurers.
11. The submission of offer shall have no cause of action or claim against Balmer Lawrie for rejection of offer. The insurer whose offer is not accepted shall not be entitled to claim any costs, charges, and expenses incidental to or incurred by them in connection with the submission of their offer. 12. Balmer Lawrie reserves the right to award and distribute the Insurance business to one or more Insurers. 13. L1 status will be evaluated based on total premium amount. 14. Any offer received after the expiry of the time specified for receiving the offer is liable to be rejected. 15. Please also note that this tender is published in the website www.balmerlawrie.com where from you can also download and apply. 16. We have retained M/s Mahindra Insurance Brokers Ltd (contact person Mr. Abhishek Upadhyay 96193 55513) as our brokers for the year 2013/14, hence for any clarification or queries please contact the aforementioned Brokers. 17. As per the present policy of the company, we do not propose to have any negotiations on the offers except with the L1 party. It would therefore be in your interest to submit the most competitive rates. 18. Any dispute or difference whatsoever arising between the parties out of or relating to the construction, interpretation, application, meaning, scope operation or effect of this contract or the validity of the breach thereof, shall be settled by arbitration in accordance with the Rules of Arbitration of the SCOPE Forum of Conciliation and Arbitration and the award made in pursuance thereof shall be binding on the parties. The award of the arbitrator so appointed shall be final and conclusive and binding on all parties to the agreement subject to the Provisions of the Indian Arbitration Act 1940 and the rules there under and any statutory modifications or re-enactments thereof deemed to apply to the Arbitration proceeding under this clause." Kindly submit your sealed offers to Regional Human Resource HEAD, Balmer Lawrie & Co Ltd, 5, J N Heredia Marg, Ballard Pier, Mumbai - 400001 before closing time. Quotation should be made in sealed envelopes marked as Bid for Group Term Life Insurance Year 2013-14. Thanking you, Yours faithfully, For BALMER LAWRIE & CO.LTD. (Mr. Vijay R. Rayamane) Regional Human Resource HEAD (WR)
Tender Enquiry No. BL/LT/MO/16/13-14 due on 23 rd Sept 2013 TECHNO COMMERCIAL OFFER Regional HR HEAD WR 5 JN Heredia Marg, Ballard Estate, MUMBAI 400001 We are glad to submit our Techno Commercial Offer for Group Term Life Insurance against your Tender Enquiry No. BL/LT/MO/16/13-14 due on 23 rd Sept 2013 Particulars of Company [a] Name of the Organisation - [b] Address - [c] Name of contact persons (at least two) [c1] Phone No. [c2] Mobile No. [c3] Email id [c4] Fax No. [c5] Phone No. [c6] Mobile No. [c7] Email id [c8] Fax No. Service Offered [a] Name of the Policy :GROUP TERM LIFE INSURANCE [b] Total nos. of employee cover : 175 [c] Retirement Age : 60 years [d] Validity of the plan : 30 th Sept 2014 [e] Total sum assured : Rs.116,808,592/-. Details of Turnover In the last preceding three years (with proofs) Income Tax Clearance Certificate We are agreeable to all the Terms & Conditions set in the Tender and submit herewith signed sealed copy of the Tender Notice BL/LT/MO/16/13-14 dated 18 th Sept 2013 as our token of acceptance of all terms and conditions of the Tender [Authorized Signatory] with seal Date : Place :
Tender Enquiry No. BL/LT/MO/16/13-14 due on 23 rd Sept 2013 PRICE BID Regional HR HEAD WR 5 JN Heredia Marg, Ballard Estate, MUMBAI 400001 We are glad to offer our best premium as given below for Group Term Life Insurance Coverage for 175 non-officer employees of all Unit Based at Mumbai and New-Mumbai as per your requirements. [a] Total No. of employees covered : 175 [b] Total sum assured : Rs.116,808,592/-. [c] Validity of the Plan : 1 st Oct 2013 to 30 th Sept 2014 [d] Annual premium : [e] Tax [Service Tax etc.] : [f] Total premium [Annual premium + Tax] : [g] Other Charges if any : [Authorized Signatory] With seal Date : Place :