Assets Insurance Service - All Risk Policy; Standard Fire & Special P… – GEM/2026/R/751255

Overview

11 facts from the tender

Ministry of Micro Small and Medium Enterprises published this services tender on GeM on 13 Oct 2026, for Ludhiana, Punjab. The estimated value is ₹2.4 L and no EMD is required. It closes on 14 Oct 2026, 5:00 pm IST. Bid number GEM/2026/R/751255.

From the bid document

TimelineBid → reverse auction

Bid published16 Sep 2026
Bid closed26 Sep 2026 · 2:00 pm
RA issued12 Oct 2026
RA startsin 2h 56m13 Oct 2026 · 5:00 pm
RA ends14 Oct 2026 · 5:00 pm

Parent bid GEM/2026/B/8034058Bid document

Bidding

Bid type: Reverse auction
Evaluation method: Total value wise evaluation
Packet type: Two Packet Bid
Reverse auction: Yes, H1-Highest Priced Bid Elimination
Auction for bid: GEM/2026/B/8034058
Total quantity: 1

Buyer

Created by: info@ctrludhiana.com
Location: Ludhiana · Punjab
Portal: GeM

Important dates

Published: 13 Oct 2026, 5:00 pm IST
Closes: 14 Oct 2026, 5:00 pm IST

Bid & reverse auction

This reverse auction is the price round of bid GEM/2026/B/8034058. GeM's auction document lists only the auction, so the items, delivery, eligibility and buyer terms below come from the bid document and are marked From the bid document.

Bid document (PDF) Reverse auction document (PDF)

Service scope & delivery

From the bid document

1 service · 1 delivery location

Item 1

Assets Insurance Service - All Risk Policy; Standard Fire & Special Perils Cover, Storm, Typhoon, Hurricane, Tornado, Flood And Inundation (STFI) Cover, Terrorism Cover, Earthquake Cover, Theft/Burglary Cover; Optional

Service basisProject / Lumpsum Based

Delivery location

141010,Central Tool Room A-5, Focal Point, Ludhiana (Pb.) INDIA

Wage & allowance components

Total Number of Asset to be Insured (Quantity): 1
Total Sum Insured for the Assets: 651981000

Specifications & requirements · 15

Specif icatio n: मूWय/ Values
Type of Asset Insuran ce Policy: All Risk Policy
Type of Risk Covera ge: Standard Fire & Special Perils Cover , Storm, Typhoon, Hurricane, Tornado, Flood and Inundation (STFI) Cover , Terrorism Cover , Earthquake Cover , Theft/Burglary Cover
Re- insuran ce Arrang ement: Optional
Specif icatio n: मूWय/ Values
Premiu m Payme nt Option s: Single Premium
Assess ment) Report of assets to be provide d by Buyer: No
List of Insurer from where insuran ce to be taken(c an indicat e multipl e service provide rs): Acko General Insurance Ltd. , Agriculture Insurance Company of India Ltd. , Cholamandalam MS General Insurance Co. Ltd. , ECGC Ltd. , Future Generali India Insurance Co. Ltd. , Go Digit General Insurance Ltd. , HDFC ERGO General Insurance Co.Ltd. , ICICI LOMBARD General Insurance Co. Ltd. , IFFCO TOKIO General Insurance Co. Ltd. , Liberty General Insurance Ltd. , National Insurance Co. Ltd. , Raheja QBE General Insurance Co. Ltd. , Royal Sundaram General Insurance Co. Ltd. , SBI General Insurance Co. Ltd. , Shriram General Insurance Co. Ltd. , Tata AIG General Insurance Co. Ltd. , The New India Assurance Co. Ltd. , The Oriental Insurance Co. Ltd. , United India Insurance Co. Ltd. , Universal Sompo General Insurance Co. Ltd. , Navi General Insurance Ltd. , Zuno General Insurance Ltd. , Zurich Kotak General Insurance Company (India) Ltd. , IndusInd General Insurance Company Ltd. , Bajaj General Insurance Ltd. , Magma General Insurance Ltd. , Any IRDA approved Insurance companies
Method used for Valuati on of Assets (WDV or RIV): WDV
Details of Co- Insuran ce (if applica ble): NA
Specif icatio n: मूWय/ Values
Deduct ible (if any): NA
Insuran ce Start Date: 23-11-2026
Insuran ce End Date: 22-11-2027
Minimum Floor Price defined by Buyer: No

View PDF · p. 4

Tender documents

Bid files and supporting documents, linked directly from GeM.

Reverse auction documentOpen
Auction dates, extension rule and offer validity
Bid documentOpen
Items, delivery, eligibility and buyer terms: the auction runs on these
Details for Assets to be insuredOpen
From the bid document
Scope Inclusions/Exclusions Advisory- With reference to Order F.No. 14017/64/2020-Ins. II issued by the Department of Financial Services under Ministry of Finance, it is advised not to include Net- Worth as a criterion for Public Sector General Insurance Companies in General Insurance tenders.Open
From the bid document
Buyer uploaded ATC documentOpen
From the bid document

Policy & contract references

General terms and conditionsOpen
From the reverse auction
Public procurement policy — concurrent applicationOpen
From the bid document
General terms and conditionsOpen
From the bid document
Service level agreementOpen
From the bid document

Documents you must submit

Experience Criteria
Bidder Turnover
Certificate (Requested in ATC)
Additional Doc 1 (Requested in ATC)

Eligibility

From the bid document

Experience

2 years

Experience & turnover exemptions

Micro & small enterprises (MSE)

Complete exemption

From the reverse auction

Exemption conditions

Yes | Complete

View PDF · p. 1

Startups

Complete exemption

From the reverse auction

Exemption conditions

Yes | Complete

View PDF · p. 1

Exemptions depend on the evidence and conditions specified in the bid.

Preferences & relaxations

From the bid document

MSE purchase preference
EMD exemption

Check each criterion against the tender notice before you bid.

Commercial conditions

From the bid and reverse-auction documents

EMD: Not required
Performance guarantee: Not required
Offer validity: 90 days
Contract period: 1 Year(s) 1 Day(s)

Reverse auction extension

From the reverse auction

If any seller submits the offer price during last 15 minutes of RA end time, then RA will be automatically extended for next 15 minutes from the last participation time. There is no limit on such RA extension cycle.

View PDF · p. 1

Buyer requirements & conditions

Buyer-added conditions from the bid and the reverse-auction documents.

From the bid document

01

Generic

View PDF · p. 6

OPTION CLAUSE 50% : The buyer can increase or decrease the contract quantity or contract duration up to 50 percent at the time of issue of the contract. However, once the contract is issued, the contract quantity or contract duration can only be increased up to 50 percent. Bidders are bound to accept the revised quantity or duration. For lumpsum-based service contracts, the buyer may increase the scope of work and contract value up to 50 percent with the consent of the service provider

02

Buyer Added Bid Specific ATC

View PDF · p. 6

Buyer uploaded ATC document Click here to view the file.

03

Buyer Added Bid Specific ATC

View PDF · p. 7

Buyer Added text based ATC clauses The scope of work will be as per attached ATC of bid and number of assets will be as per Tender Document . The bidder may quote the price accordingly. .

From the reverse auction

Reverse auction — offer validity

View PDF · p. 1

Participation by the bidder in RA process would be considered as their consent for extension in offer validity by 30 days by the date of RA initiation.

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Overview

TimelineBid → reverse auction

Bidding

Buyer

Important dates

Bid & reverse auction

Service scope & delivery

Assets Insurance Service - All Risk Policy; Standard Fire & Special Perils Cover, Storm, Typhoon, Hurricane, Tornado, Flood And Inundation (STFI) Cover, Terrorism Cover, Earthquake Cover, Theft/Burglary Cover; Optional

Tender documents

Policy & contract references

Documents you must submit

Eligibility

Experience & turnover exemptions

Micro & small enterprises (MSE)

Startups

Preferences & relaxations

Commercial conditions

Reverse auction extension

Buyer requirements & conditions

Generic

Buyer Added Bid Specific ATC

Buyer Added Bid Specific ATC

Reverse auction — offer validity

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