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Tender Details
Description / Scope of Work
Bank Makramah Limited invites sealed bids from well-regulated insurance companies to provide comprehensive vehicle insurance services for the bank's fleet of vehicles. The procurement is for a one-year insurance coverage period from August 2026 to July 2027, with the option to renew for additional periods. The selected insurance provider must hold a minimum A rating from AM Best or equivalent and maintain arrangement with authorized dealerships nationwide for claims and support services. This is a critical operational procurement ensuring full coverage and efficient claim settlement for the bank's vehicular assets across Sindh province.
Eligible bidders must be well-regulated insurance companies with a minimum AM Best rating of A or equivalent, possess a valid NTN certificate, submit FBR returns for the last three years, provide copy of CNC for all directors and management, and furnish relevant bank statements demonstrating financial stability. The bidder must demonstrate experience in fleet vehicle insurance, technical competence in handling large-scale policies, and maintain relationships with authorized dealerships nationwide. Bidders should also provide references from similar nature projects and hold ISO certification to demonstrate quality and governance standards.
Bidders can obtain information documents via email on or before Tuesday, 14 July 2026 between 9:00 AM and 5:30 PM. The last date for bid submission is Wednesday, 15 July 2026 before 5:00 PM to the Procurement and Administration department at Bank Makramah Limited head office, 11th Floor, G-2 Shahrah-e-Firdousi, Karachi. Bids will be opened upon a full quorum of the Quotation Committee. All prices must include applicable taxes. The bank reserves the right to reject any bid without assigning reasons. Contact the Procurement and Administration division for further details and clarification.
For Bidders: Our Analysis PAKISTANTENDER INSIGHT
Independent analysis by PakistanTender — not part of the official notice. Always confirm details against the original tender document.
Bank Makramah seeks a single insurance provider for fleet vehicle coverage (Aug 2026–Jul 2027, renewable).
This is operational risk management for the bank's transport assets across Sindh—not a construction contract. Scale appears medium to large given 'fleet' language and nationwide dealership network requirement. The tight 1-day window (bid docs 14 July, submission 15 July) signals urgency; Bank likely faced previous policy lapse or renewal timing pressure. One-year term with renewal optionality suggests relationship-focused procurement rather than spot coverage.
Who can bid: Insurance companies only—must hold AM Best A rating or equivalent, possess NTN, submit 3 years FBR returns, provide directors' CNCs, bank statements, and ISO certification. Typically, bidders must also be registered with SBP (State Bank of Pakistan) and comply with Insurance Ordinance 2000. References from similar fleet policies and nationwide dealership partnerships are mandatory.