Tender announcement

14-11-2023

The Central Bank of the Republic of Azerbaijan is holding an open tender on combined insurance services comprising the insurance of fixed assets and vehicles according to the Law of the Republic of Azerbaijan on Public Procurements. 

1. The bid will be held at 15.00, on 13 December 2023 at the HQs of the Central Bank of the Republic of Azerbaijan (R.Behbudov Str.90, Baku).
2. The bidder may be an insurance company licensed for insurance activities in accordance with the legislation of the Republic of Azerbaijan that received an official permit for relevant types of insurance and is included in the Register of Insurers of the Compulsory Insurance Bureau for relevant types of compulsory insurance.
3. Bidder’s total regulatory capital should not fall below the required capital calculated as per the legislation.
4. Where a foreign reinsurance company maintains reinsurance, the foreign reinsurance company should be the one entered to the Central Bank’s related register (even if reinsurance is maintained through a foreign insurance broker).
5. Bidders should submit the following documents via the Portal to be eligible:

- tender application.

- notarized copies of documents confirming Bidder’s legal status (Charter, certificate of state registration or statement from the registry), bank requisites.

- copy of a special permit (license) issued to an applicant to engage in insurance activities in the Republic of Azerbaijan: a permit issued to insure property against fire and other risks, as well as the permit issued for voluntary insurance of vehicles and compulsory civil liability insurance of vehicles.

- information on acceptance of risk by reinsurers with the rating determined in the Request for Proposals.

- document confirming authorities of persons empowered to sign the bid and procurement agreement.

- bank statement confirming payment of the participation fee.

- the bid in Azerbaijani in two copies (original and a copy) (to be valid through 13 December 2023).

- bank guarantee in the amount of 1 (one) percent of the bid (as per the RFP).

-  bank statement on financial standing over the past one (1) year.

- reference from the relevant public authority on absence of any overdue obligations and other compulsory payments in the Republic of Azerbaijan, as well as failure to comply with the Tax Code of the Republic of Azerbaijan for the last 1 (one) year (excluding the suspension period).

- information on the bidder’s at least 3 (three) year experience in insurance of fixed assets and vehicles.

• reference from the relevant state authority that the bidder itself, as well as its managers, employees were not convicted of a crime related to their professional activities or misrepresenting the qualification indicators for the conclusion of a procurement agreement, or they were not prohibited from engaging in relevant professional activities by court order within 5 (five) years prior to the initiation of the procurement procedure.
• a reference from the relevant public authority that the bidder was not declared bankrupt, that its property was not seized, that there is no collateral for payment, that its commercial activity was not suspended by a court decision.

6. Bidders should submit signed and sealed bids and bank guarantees in a written form in two-fold envelope until 18.00, 12 December 2023, and other sealed and signed necessary documents in a written form in closed envelopes to the coordinator at the CBAR administrative tower located at 90, R.Behbudov Str, Baku city no later than 18.00, 4 December 2023. Envelopes and documents submitted upon deadline will be returned without opening and the bidder will not be allowed to the tender.
7. Bidders should transfer AZN200 (two hundred) participation fee to the following account of the Central Bank:

Central Bank of the Republic of Azerbaijan

code 501004, TIN 9900071001

Account: AZ25NABZ01701190000000001944

C/a AZ74NABZ01451700000000001944 

S.W.I.F.T. BIC NABZAZ2C

The participation fee is non-refundable.

8. Supply of the insurance service will start from 1 January 2024. Supply of compulsory civil liability insurance service of owners of vehicles will start from 25 January 2024.
9. Duration of supply of the service: one (1) year.
10. Evaluation criteria: price, insurance terms and conditions on offered set of services and unconditional exemption amounts.
11. Any person, willing to participate in the tender may get the RFP in Azerbaijani at the CBAR Administrative tower, located at 90, R.Behbudov Str., Baku city by submission of the bank reference confirming payment of the participation fee.

Coordinators: 

Elvin Shirdanov (Legal Department)

Phone: (+99412) 493 1122 (ext: 428)

e-mail: elvin_shirdanov@cbar.az   

Shahriyar Imanov (Administrative and Procurements Department)

Phone: (+99412) 493 1122 (ext: 214)

Procurement Committee