TORs FOR LOCKERS INSURANCE

The SME Bank was formed and incorporated as a public limited company under the Companies Ordinance 1984. The Government of Pakistan is the major Shareholder of the bank. As part of financial sector restructuring program of Government of Pakistan, Regional Development Finance Corporation (RDFC) and small Business Finance Corporation (SBFC) were amalgamated into SME Bank Ltd effective January 1, 2002.

SME bank Ltd was established to exclusively cater to the needs of the SME sector. it was created to address the needs of this niche market with specialized financial products and services that will help stimulate SME development and pro poor growth in the country.

Recently lockers are installed at SME Bank Islamabad Branch, 56-F, F-6/1 Nazimuddin Road, Blue Area, Islamabad. SME Bank intends to invites sealed bids for insurance of lockers from registered companies, who are registered with Income tax and sales tax department & who are on Active Tax payer list of FBR, are eligible for provision of services to SME Bank Ltd.

Size wise Lockers detail is as under:

Small Lockers312

Medium Lockers195

Large Lockers117

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Total624

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Locker SizeInsurance Cover

Small LockerRs.500,000/-

Medium LockersRs.750,000/-

Large LockersRs.1,000,000/-

Limit of IndemnityRs.10,000.000 EEL

Rs.10,000,000 AGG

Terms/Conditions

  • Sealed bids are invited from only registered insurance companies,who are on Active Tax payer list of FBR, are eligible for provision of their services to SME Bank Ltd.
  • Insurance cover will be for lockers allotted to the customers and intimated to the insurance company on the same day.
  • Lockers allocation will be started during October – November 2015, therefore insurance policy will also start from October –November 2015 for initial period of one year.
  • Insurance companies are requested to mention the deductible in percentage for comparison purpose. All other terms & conditions should be clearly spelled out in the proposal.
  • All bidders must enclosed 1% of total quoted price as earnest money (refundable).
  • The quotations must be inclusive of all taxes.
  • Bidders are requested to give their best and final prices as no negotiations are expected.
  • TENDER FOR INSURANCE COVERAGE OF LOCKERS be written on the envelope containing the proposal for Lockers.
  • The Bank reserves the right to reject any or all quotations without assigning any reason.
  • Last date for submission of sealed tender is 13/10/2015 upto 3.30 pm and will be opened on the same day at 4.00 pm in the presence of those bidders who may wish to attend the opening.

Head HR & Services Division,

Head Office, 56-F, Nazimuddin Road,

Blue Area, Islamabad.

Ph.9217000 UAN # 111 11 00 11