Tender Details
Description / Scope of Work
Bank of Azad Jammu and Kashmir invites sealed quotations for Blanket Insurance of Bank Assets for the financial year 2026-27. The tender is issued under the Single Stage – Two Envelope Bidding Process in accordance with AJK Public Procurement Rules 2017 PPRA Rule 36(b). This is a service procurement for comprehensive insurance coverage of the bank's assets and operations across Azad Jammu and Kashmir, with the head office located in Muzaffarabad. The scope encompasses all insurable assets of the bank, and the contract is anticipated to be annual in nature with significant coverage requirements typical of a major financial institution.
Eligible bidders must be income tax and Sales Tax registered firms or companies with a minimum rating of 'A' in their respective categories. Bidders are required to possess valid NTN (Income Tax and GST) registrations, relevant tax certificates, and must be listed on the Active Taxpayer List of FBR or CBR. Blacklisted firms or those in conflict with any government entity in Pakistan are explicitly prohibited. A bid security of Rs 300,000 in the form of CDR, DD, PO or Banker Cheque made payable to Bank of AJK must accompany all bids. Financial proposals must include all taxes levied in AJK, and all bidders must furnish an affidavit certifying they are neither blacklisted nor in conflict with government.
Request for Proposal documents are available from the Credit Administration Division, Bank of Azad Jammu and Kashmir, Sardar Nazir Plaza, Gojra Bypass Road Muzaffarabad upon payment of Rs 2000 (non-refundable) by Pay order, Demand Draft or Bankers Cheque until 06-10-2026 during business hours 9 am to 5 pm. Technical and Financial proposals must be submitted by 07-10-2026 at 03:00 PM in separate sealed envelopes clearly marked as 'TECHNICAL PROPOSAL' and 'FINANCIAL PROPOSAL'. Technical bids will be opened on the same day at 03:30 PM using Quality and Cost Based Selection methodology. A pre-bid meeting is scheduled for 01 October 2026 at 11:00 AM at the committee room of Bank of Azad Jammu Kashmir Head Office Muzaffarabad. Financial bids of unsuccessful bidders will be returned unopened. Proposals must remain valid for a minimum of 120 days. Contact: Head, Credit Administration Division, Ph: 05822-923004-5.