BAKU, Azerbaijan, Dec. 1
By Nazrin Israfilova - Trend:
The Central Bank of Azerbaijan (CBA) has announced an open tender for insurance of fixed assets and funds in accordance with the Law of the Republic of Azerbaijan "On Public Procurement", Trend reports on Dec. 1 with reference to the tender commission.
The tender will be held on December 22, 2021, at 15:00 (GMT+4) in the administrative building of the CBA situated at 90 R. Behbudov street, Baku, Azerbaijan.
A bidder can be an insurance company having a license for insurance activity in accordance with the legislation of the Republic of Azerbaijan, official permission to carry out the relevant types of insurance, and included in the Compulsory Insurance Register.
The required capital of a bidder must be at least five million manat ($2.9 million), which is required for insurance activity excluding life insurance.
To participate in the tender, bidders must submit the following documents:
- an application for participation in the tender;
- the certified copies of legal documents covering the legal status of the bidder (charter, certificate of state registration or an extract from the state register of legal entities), bank details;
- a copy of a special agreement (license) issued to a bidder for carrying out insurance activity in the Republic of Azerbaijan, and an agreement on property insurance, as well as money from fire and other risks, insurance of risks of cash transportation;
- the information confirming the acceptance of the risk by reinsurers with a rating determined upon the main conditions of the tender. When reinsurance is carried out by a foreign reinsurance company, it must be a reinsurance company included in the relevant register of the CBA (even if the reinsurance is carried out through a foreign insurance broker);
- a document confirming the authority of the person to sign the tender proposal and the purchase agreement;
- a certificate from the bank on payment of the tender participation fee;
- original and copy of the tender proposal (the tender proposal must be valid until February 8, 2022);
- a bank guarantee in the amount of one percent of the value of the tender proposal (in the form of a bank guarantee attached to the Main Tender Conditions);
- a certificate from the bank about the financial condition for the last year;
- a zero debt certificate from the corresponding state structure in the Republic of Azerbaijan during the last year;
- other information is required upon the qualification of the bidder in the main conditions of the tender.
The bidders must submit the tender proposal and the bank guarantee of the tender proposal in a sealed and signed envelope till 17:30 (GMT+4) December 21, 2021, while other necessary documents - till 17:30 (GMT+4) December 13, 2021 to the coordinator of the tender commission in the administrative building of the CBA situated in 90 R. Behbudov street, Baku, Azerbaijan.
The envelopes and documents submitted after the indicated deadline will be returned unopened and the bidder will not be allowed to participate in the tender.
Bidders must transfer the tender participation fee in the amount of 100 manat ($58) to the account of the CBA:
Central Bank of the Republic of Azerbaijan
Code: 501004
Taxpayer identification number: 9900071001
Account: AZ25NABZ01701190000000001944
Correspondent account: AZ74NABZ014517000000000019194
S.W.I.F.T. BIK NABZAZ2C
The tender participation fee is not refundable.
Insurance services will be rendered from January 1, 2022.
The term for rendering insurance services is one year.
Evaluation criteria are price, insurance conditions for the range of services.
Insurance companies wishing to participate in the tender can obtain a list of the main conditions of the tender from the coordinator of the tender commission in the administrative building of the CBA, situated in 90 R. Behbudov street, Baku, Azerbaijan, by showing a bank statement on payment of the tender participation fee.
Additional Information:
Tender Coordinators:
Elvin Shirdanov (legal department)
Phone: 493-11-22 (ext: 428)
E-mail: [email protected]
Jeyhun Samandov (administrative department),
Phone: 493-11-22 (ext: 599)
E-mail: [email protected]