STATE BANK OF PAKISTAN
REQUEST FOR PROPOSALS (RFP)
REP No. GSD insurance I 7290 /2013 Procurement of Services of an insurance company for providing Group Term Assurance for the Employees of State Bank of Pakistan / State Bank of Pakistan Banking Services Corporation (Bank) 1. General Services Department invites sealed bids on the prescribed form from insurance companies for providing Group Term Assurance to about 5,200 employees for a period of three (3) years. The Insurance Companies should have experience / expertise in providing Group Term Assurance and may send their detailed proposal specifying comprehensive information supporting their candidacy in the relevant field. 2. Bidding will be conducted in terms of national competitive bidding procedures as specified in Rule 36-b of the Public Procurement Rules, 2004 viz. Single stage two envelope procedure, and is open to all eligible national tax registered companies that meet the following minimum qualification criteria: i. Having at least 10 years experience of providing insurance services to local/international organizations of similar scale and standing with at least 10 similar assignments, each with a premium of Rs. 100 Million/annum arid above. ii. Having documented evidence of expeditious and unencumbered settlement of substantive claim within seven to fifteen days of lodgment. Substantive claims are defined as claims of over Rs.1.5 million, pertaining to firms paying yearly premium of Rs. 30 million or more. iii. Should submit latest audited accounts, duly certified by a Chartered Accountant firm of standing. iv. Should be staffed with at least 2 qualified insurers; conversant with International insurance practices and actuarial standards. v. Must have minimum 'BBB' IFSR/PACRA (Insurer Financial Strength Rating/The Pakistan Credit Rating Agency Ltd) or equivalent. vi. Minimum Life Fund of Rs. 10 billion. 3. The rates quoted in financial bid must remain valid for a period of at least 120 days after opening of bids. All bids must be accompanied by a bid security of 2% of total bid price (to be enclosed in Financial proposal) payable in the form of bank draft / pay order / Bank Guarantee, drawn in favor of SBP Banking Services Corporation (Bank). 4. Conditional or incomplete bids/ proposal or bids/ proposal without bid security or those received after the expiry of the due date and time will not be entertained. 5. Interested Insurance Companies may obtain further information by purchasing the REP document on submission of a written application to the address below and upon payment of a nonrefundable fee of Pak Rs. 10001= only through bank draft / pay order (in name of SBP BSC) from 9:00 am to 5:00 pm after publication of REP till one day before closing thereof. If the bidding documents are requested by post courier then non-refundable fee of Pak Rs. 12001= will be charged. B. A pre-proposal conference will be held on December 17, 2013 at 1100 hours at Learning Resource Centre, SBP Banking Services Corporation. Updated data of employees will be made available and any clarification regarding bidding documents will be provided in this meeting. 7. Proposals must be delivered at the address below on or before. December 26, 2013 at 1100 hours which will be opened on same day at 1130 hours in the presence of firm's representatives (whoever chooses to attend) in the meeting room of General Services Department, 4th Floor, Subsidiary House, SBP Banking Services Corporation, 1.1. Chundrigar Road, Karachi.
PID (K/# 1342/13
Joint Director Procurement Unit General Services Department State Bank of Pakistan — SBP BSC 4th Floor, Subsidiary House, 1.1 Chundrigar Road, Karachi -Pakistan Telephone No: (021) 3245-5373 1021-99221174 Email: syed.tariq@sbp.org.pk
iT awn News Newspaper
REQUEST FOR PROPOSALS (RFP)
REP No. GSD insurance I 7290 /2013 Procurement of Services of an insurance company for providing Group Term Assurance for the Employees of State Bank of Pakistan / State Bank of Pakistan Banking Services Corporation (Bank) 1. General Services Department invites sealed bids on the prescribed form from insurance companies for providing Group Term Assurance to about 5,200 employees for a period of three (3) years. The Insurance Companies should have experience / expertise in providing Group Term Assurance and may send their detailed proposal specifying comprehensive information supporting their candidacy in the relevant field. 2. Bidding will be conducted in terms of national competitive bidding procedures as specified in Rule 36-b of the Public Procurement Rules, 2004 viz. Single stage two envelope procedure, and is open to all eligible national tax registered companies that meet the following minimum qualification criteria: i. Having at least 10 years experience of providing insurance services to local/international organizations of similar scale and standing with at least 10 similar assignments, each with a premium of Rs. 100 Million/annum arid above. ii. Having documented evidence of expeditious and unencumbered settlement of substantive claim within seven to fifteen days of lodgment. Substantive claims are defined as claims of over Rs.1.5 million, pertaining to firms paying yearly premium of Rs. 30 million or more. iii. Should submit latest audited accounts, duly certified by a Chartered Accountant firm of standing. iv. Should be staffed with at least 2 qualified insurers; conversant with International insurance practices and actuarial standards. v. Must have minimum 'BBB' IFSR/PACRA (Insurer Financial Strength Rating/The Pakistan Credit Rating Agency Ltd) or equivalent. vi. Minimum Life Fund of Rs. 10 billion. 3. The rates quoted in financial bid must remain valid for a period of at least 120 days after opening of bids. All bids must be accompanied by a bid security of 2% of total bid price (to be enclosed in Financial proposal) payable in the form of bank draft / pay order / Bank Guarantee, drawn in favor of SBP Banking Services Corporation (Bank). 4. Conditional or incomplete bids/ proposal or bids/ proposal without bid security or those received after the expiry of the due date and time will not be entertained. 5. Interested Insurance Companies may obtain further information by purchasing the REP document on submission of a written application to the address below and upon payment of a nonrefundable fee of Pak Rs. 10001= only through bank draft / pay order (in name of SBP BSC) from 9:00 am to 5:00 pm after publication of REP till one day before closing thereof. If the bidding documents are requested by post courier then non-refundable fee of Pak Rs. 12001= will be charged. B. A pre-proposal conference will be held on December 17, 2013 at 1100 hours at Learning Resource Centre, SBP Banking Services Corporation. Updated data of employees will be made available and any clarification regarding bidding documents will be provided in this meeting. 7. Proposals must be delivered at the address below on or before. December 26, 2013 at 1100 hours which will be opened on same day at 1130 hours in the presence of firm's representatives (whoever chooses to attend) in the meeting room of General Services Department, 4th Floor, Subsidiary House, SBP Banking Services Corporation, 1.1. Chundrigar Road, Karachi.
PID (K/# 1342/13
Joint Director Procurement Unit General Services Department State Bank of Pakistan — SBP BSC 4th Floor, Subsidiary House, 1.1 Chundrigar Road, Karachi -Pakistan Telephone No: (021) 3245-5373 1021-99221174 Email: syed.tariq@sbp.org.pk
iT awn News Newspaper
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