OREANDA-NEWS. July 16, 2014. 1. The Central Bank of the Republic of Azerbaijan is announcing an open tender on a package insurance of fixed assets, cash and vehicles (CASCO) in line with the Law of the Republic of Azerbaijan on Public Procurements.

The tender procedure is to be held on 18 August 2014 at 15.00 in the administrative tower of the CBA (R.Behbudov Str., 32, Baku.)

2. Eligible bidders should be licensed for an insurance activity as specified in the Legislation of the Republic of Azerbaijan (provided the license maturity is for 12 (twelve) months from 1 November 2014), have an official permit of the Ministry of Finance of the Republic of Azerbaijan to conduct the above types of insurance, be an Insurance Company registered with the Register of Compulsory Insurance Bureau on relevant compulsory types of insurance.

Bidder’s capital should not fall below the required 5 (five) million required for Insurers in line with Order Q-5 of the Board of the Ministry of Finance of the Republic of Azerbaijan of 24 January 2014.

3. Interested bidders should submit the following documents to be eligible:

- tender application;

- notarized copies of documents confirming the Bidder’s legal status (charter, certificate of state registration or extract from the registry etc);

- copy of a special permit (license) issued for the bidder to be engaged in the insurance activity in the Republic of Azerbaijan and a permit issued by the Ministry of Finance of the Republic of Azerbaijan on insurance of property, including cash against fire and other risks, as well as compulsory civil liability insurance of owners of vehicles;

- if reinsurance is provided by a reinsurance company, information on entry of the reinsurance company to the relevant registry of the Ministry of Finance of the Republic of Azerbaijan (to be presented even if reinsurance is done by a foreign insurance brokerage);

- signed and stamped certificates of reinsurance, which approve allocation of risks by Reinsurers rated as specified in the Request for Proposals;

- a document authorizing the responsible person to act as signatory;

- bank statement confirming payment of the participation fee;

- bid in Azerbaijani in two copies (to be valid until 29 September 2014);

- bank guarantee amounting to 1% (one) of the bid price (as per the RFP to be valid through 13 November 2014);

- bank statement on financial standing of the bidder over the past 1 (one) year;

- Financial Statements for 2013 with an audit opinion and copies of quarterly Financial Statements for 2014;

- Report submitted to the Ministry of Finance 2014 on direction of Insurer’s funds, as well as funds providing insurance reserves to investment and report on aggregate capital (Form # 6 );

- reference issued by a respective tax authority on absence of expired tax obligations;
- Necessary data required in the RFP on adequacy of the Bidder’s qualification.

4. The bidder shall submit signed and sealed bid and its bank guarantee in a written form in two-fold envelope until 15 August 2014, 18.00 and other sealed and signed necessary documents in a written form in closed envelopes to the coordinator in the CBAR administrative tower located at 32, R.Behbudov Str., Baku city no later than 07 August 2014, 18.00. Envelopes and documents submitted later than the deadline will be returned without opening and the bidder will not be allowed to the tender.

5. Bidders shall transfer the AZN 200 (two hundred) participation fee to the following account of the CBA:

The Central Bank of the Republic of Azerbaijan

Code 501004

TIN 9900071001

a/n AZ25NABZ01701190000000001944

c/a AZ74NABZ01451700000000001944

S.W.I.F.T. BIK NABZAZ2C

Payment Systems and Settlements Department of the Central Bank

6. The start date for the Service is 01 November 2014. The start date for the Service on compulsory civil liability insurance of automobile owners is 25 January 2015.

7. Service duration: 12 (twelve) months.

8. Proposals shall be evaluated on the basis of the below factors: price, insurance terms on offered service package, franchise amount, reinsurers’ rating.

9. Insurance companies, willing to participate in the tender can get the RFP in Azerbaijani from the CBAR Administrative tower, located at 32, R.Behbudov Str., Baku city through submission of the bank statement confirming payment of the participation fee.

Coordinatiors:

Jeyhun Samandov (employee of the Admnistrative Department).

Phone: 493-11-22 (ext.599).

Elvin Shirdanov (employee of the Legal Department)
.
Phone: 493-11-22 (ext.428).