General Fire & Burglary Insurance 2020-21

Sealed Quotations are invited for Fire and Burglary, Earthquake & Terrorism cover for the Institute’s fixed Assets for a period of one year i.e., 26.02.2020 to 25.02.2021.  The premium may be quoted in lump sum (inclusive of all taxes) covering all the Assets as stated above. The Terms and conditions for the General Fire & Burglary Insurance Scheme are given in below, which shall form part of the quotations:- Ø    Period of validity for your quotation may be indicated.  The premium quoted should be valid for not less than 90 days.Ø    During the policy period there will be no revision in the premium amount.Ø    In addition to the above, the firms may also indicate any other options/schemes with them with appropriate documents (optional).Ø    For addition/deletion during the insurance period, additional premium amount will be given / withdrawn on prorata basis.Ø    The Institute reserves its right to consider part or full of the offer or reject the offer without assigning any reasons, whatsoever. Ø    If any tie occurs on the quoted premium, those Insurance Companies who have quoted the least price alone will be asked to give revised quote with discount to break the tie. The L1 will be finalized based on the lowest re-quoted value.   Kindly submit the quotations on or before 18.02.2020 (Tuesday), 03.00 pm at the Registrar’s Office, 1st Floor, Administration Building, IIT Madras in a sealed envelope along with a copy of the IRDA certificate and mention clearly the validity of the IRDA approval, The Enquiry notice No. & Due date are to be superscripted on the top of the envelope and addressed to the Registrar, IIT Madras, Chennai 600 036. The sealed quotations are to be submitted either in person or by ordinary post only on or before the due date and time. The tenders received will be opened on the same day at 03.30 pm at the Conference Room, 2nd floor, Admin Building. Quotations received after the due date will be summarily rejected. The Address of the Office (with email, Fax & Telephone Nos.) located at Chennai to be given, with contact person Name, e-mail id and Mobile Nos.  For further clarifications, if any, please contact Deputy Registrar (Admn.), Phone No.:044 2257 8120 / 8112.