Insurance

NIGERIAN SECURITY PRINTING AND MINTING PLC – INVITATION FOR PREQUALIFICATION AS INSURANCE UNDERWRITER/BROKER

By November 2, 2016 No Comments
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INTRODUCTION:

In preparation of the renewal of the renewal of the cleaning and janitorial contracts for the Abuja and Lagos factories, the Nigerian Security Printing & Minting Plc hereby invites proposals from interested reputable Insurance Companies and Brokers that wish to participate in Underwriting and Management of its Insurance policies as indicated below:

These policies include;

  1. Fire and Special Perils
  2. Consequential Loss on Fire
  3. Commercial Vehicles
  4. Group Personnel Accident
  5. Fidelity Guarantee
  6. Workmen Compensation
  7. Goods-In-Transit
  8. Private Motors
  9. Group Life
  10. Marine
  11. Machinery Breakdown

 

CRITERIA FOR APPOINTMENT

Part of mandatory requirements includes submission of copies of the following;

(i) Evidence of registration with Corporate Affairs Commission

(ii) NAICOM approval/registration to operate

(iii) Evidence of valid reinsurance arrangement for classes of business applied

(iv) Three years evidence of Tax payment (Tax Clearance for 2013, 2014 & 2015)

(v) Evidence of certified three (3) years published Audited Accounts (2012, 2014 and 2015) certified by NAICOM

(vi) Evidence of VAT registration and remittances

(vii) Evidence of compliance with PENCOM Pension Reform Act

(viii) Evidence of meeting solvency requirements as prescribed by Insurance Act, 2003

(ix) Evidence of current membership of Nigerian Insurers Association

(x) Certified True Copy of three (3) years Company’s Annual Returns to CAC

(xi) Evidence of ITF Registration and remittance

(xii) Evidence of NSITF Registration

(xiii) PAYE and Evidence of Remittance

(xiv) Comprehensive Company Profile including ownership structure, management team, technical/other staff, registered addresses, other contact details

(xv) Evidence of Technical Competence and relevant experiences in similar projects

(xvi) Evidence of financial capacity and banking support

(xvii) A Statement of Declaration or Affidavit attesting to the fact that none of the bidder’s company Directors/Principal Officers has ever been convicted for any criminal offences/confirmation of Legal Capacity to enter contract.

(xviii) Evidence of current and adequate professional indemnity cover (for Brokers)

(xix) A sworn affidavit certifying that the documents submitted for pre-qualification exercise are not only genuine but also correct

NOTE THAT

  • The Condition of item (ix) is not condition precedence for applying, provided the current operational license issued by NAICOM is attached
  • Failure to comply with above requirements would automatically result in disqualification
  • NSPM Plc reserves the right to verify the authenticity of any claim on the document submitted with CAC, NAICOM or relevant bodies
  • NSPM Plc reserves the right to reject any submission that does not meet the criteria without giving any reason to the bidder
  • NSPM Plc is neither committed nor obliged to consider any bidder or to award the contract to any of the prospective bidders
  • NSPM Plc will only correspond with the underwriters/Brokers that are successful in their bids submission
  • NSPM Plc will only correspond with duly authorized officers of the successful bidders and not agents or persons acting on their behalf

SUBMISSION OF BID DOCUMENTS

Only one original copy is to be submitted. The names and mailing addresses of the applicant companies must be clearly marked on the envelope(s) bearing the submission. All the information must be provided in English Language by all applicants.

Applications/Proposals should be addressed to Managing Director/Chief Executive and MUST be submitted in sealed envelopes clearly marked “APPLICATION FOR APPOINTMENT AS INSURANCE UNDERWRITER/BROKER” (with a non-refundable fee of N20,000 in Bank Draft drawn in favor of the Nigerian Security Printing and Minting Plc) delivered by hand and dropped in the designated box in room 09, first floor of the Nigerian Security Printing and Minting Plc, 160 Samuel Ladoke Akintola Boulevard Garki, Abuja on or before 12noon on 1st December, 2016.

OPENING OF SUBMISSION

Opening of submission will be on 1st December, 2016 in room 06, second floor, N.S.P.M Plc, 160 Samuel Ladoke Akintola Boulevard, Garki, Abuja, FCT.

Signed

Management

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