Last date for submission of response: 15th th May, 2015 by 2 PM (IST)

Transcription

1 INVITATION FOR EXPRESSION OF INTEREST FOR INSURANCE COVER AGAINST VARIOUS TYPES OF MISUSE OCCURRED ON ALL TYPES OF DEBIT CARDS ISSUED TO THE CUSTOMERS OF BANK OF BARODA Last date for submission of response: 15th th May, 2015 by 2 PM (IST) BOBCARDS LIMITED Regd. Off: Baroda House, Behind Dewan Shoping Centre S V Road, Jogeshwari (West) Mumbai

2 Index Section I - Introduction [Page 3-5] 1. Purpose 2. Information Provided 3. Disclaimer 4. Costs Borne by Respondents 5. No Legal Relationship 6. Recipient Obligation to Inform Itself 7. Evaluation of Offers 8. Errors and Omissions 9. Acceptance of Terms Section II - EOI RESPONSE TERMS [Page 6-9] 10. Lodgment of EOI Response 11. Only One Submission Permitted 12. Late EOI Policy 13. EOI Validity Period 14. Notification 15. Disqualification 16. Arbitration 17. Nature and scope of the Cover 18. Annexure A [Page 10] 2

3 EXPRESSION OF INTEREST (EOI) Section I - Introduction BOBCARDS Limited ( Company ) is a premium card Company and is engaged in the business of Credit Cards Issuance and Debit Cards Management Service. The Company is a wholly owned subsidiary of Bank of Baroda. Under Debit card Management Service, the Company is managing the Debit Card operations & sponsored RRBs. In order to protect the interest of the valued customer against any unforeseen event of debit card misuse due to card loss/misplace/ cloning /theft (including data theft/skimming)etc., the Company is taking insurance cover for all the debit cards on year to year basis. The EOI document is not a recommendation, offer or invitation to enter into a contract, agreement or any other arrangement in respect of the services. 1. Purpose The purpose of this EOI is to inform Prospective insurers about the requirement of the Company and to solicit their interest in providing suitable cover as referred under the head Scopes and terms and conditions in this document. Company may at its sole discretion negotiate and enter into contracts with one or more Prospective insurers. Price will be a consideration but will not be the sole factor in Company s decision to award a contractual relationship. Company reserves the right to accept or reject any or all quotes from a specific or multiple Prospective insurers for any reason at any time. Company also reserves the right at its sole discretion to select or reject any or all Prospective insurer(s) in this process and will not be responsible for any direct or indirect costs incurred by the Prospective insurers in this process. 2. Information Provided The EOI document contains statements derived from information that is believed to be true and reliable at the date obtained but does not purport to provide all of the information that may be necessary or desirable to enable an intending insurers to determine whether or not to enter into a contract or arrangement with Company in relation to the provision of services. Neither Company nor any of its directors, officers, employees, agents, representative, contractors, or advisers give any representation or warranty (whether oral or 3

4 written), express or implied as to the accuracy, updating or completeness of any writings, information or statement given or made in this EOI document. 3. Disclaimer Subject to any law to the contrary, and to the maximum extent permitted by law, Company and its officers, employees, contractors, agents, and advisers disclaim all liability from any loss or damage (whether foreseeable or not) suffered by any person acting on or refraining from acting because of any information, including forecasts, statements, estimates, or assign mentions contained in this EOI document or conduct ancillary to it whether or not the loss or damage arises in connection with any negligence, omission, default, lack of care or misrepresentation on the part of Company or any of its officers, employees, contractors, agents, or advisers. 4. Costs Borne by Respondents All costs and expenses incurred by Recipients / Respondents in any way associated with the development, preparation and submission of responses, including but not limited to attendance at meetings, discussions, demonstrations, etc. and providing any additional information required by Company, will be borne entirely and exclusively by the Recipient / Respondent. 5. No Legal Relationship No binding legal relationship will exist between any of the Recipients / Respondents and Company until execution of a contractual agreement. 6. Recipient Obligation to Inform Itself The Recipient must conduct its own investigation and analysis regarding any information contained in the EOI document and the meaning and impact of that information. 7. Evaluation of Offers Each Recipient acknowledges and accepts that Company may, in its absolute discretion, apply whatever criteria it deems appropriate in the selection of prospective insurers. The EOI document will not be construed as any contract or arrangement, which may result from, the issue of this EOI document or any investigation or review carried out by a Recipient. The Recipient acknowledges by submitting its response to this EOI document that it has solely not relied on any information, representation, or warranty given in this EOI document. 4

5 8. Errors and Omissions Each Recipient should notify Company of any error, omission, or discrepancy found in this EOI document but not later than by 2.00 PM (IST). 9. Acceptance of Terms A Recipient will, by responding to Company EOI, be deemed to have accepted the terms as stated in this EOI document. 5

6 Section II - EOI RESPONSE TERMS 10. Lodgment of EOI Response Reponses to EOI must be submitted in a sealed envelope, as per the format prescribed in Annexure A of this document along with copy of whole EOI documents, duly sealed & signed on each page by the authorized signatory. The sealed envelopes as mentioned above should be delivered to the Sr. Manager (GA & HRM) on following address, on or before 15 th May, 2015 by 2 PM (IST). The Sr. Manager (GA & HRM) Bobcards Limited 2nd Floor, Baroda House Behind Dewan Shopping Centre S V Road, Jogeswari (West) Mumbai Only One Submission is Permitted Only one submission of response to EOI by each Prospective Insurer will be permitted. Only single quote for combined cover will be accepted. Multiple quotes for different types covers will not be accepted. 12. Late EOI Policy EOI responses received after the deadline for lodgment of EOIs may be registered by Company and may be considered and evaluated by the Company at its absolute discretion. It should be clearly noted that Company has no obligation to accept or act on any reason for a late submitted response to this invitation to EOI. Company has no liability to any person who lodges a late EOI response for any reason whatsoever. 13. EOI Validity Period EOI responses will remain valid and open for evaluation according to their terms for a period of at least three (3) months from the last date fixed for EOI submission.[i.e. 15/05/2015] 6

7 The Policy shall be taken on year to year basis. The Company shall have the right at its absolute discretion to continue/ renew the policy contract with the selected prospective insurer for future requirement at renegotiated Price after expiry of current policy period. 14. Notification Company will notify the Respondents in writing as soon as practicable, the outcome of the EOI evaluation process, including whether the Respondent s EOI response has been accepted or rejected. Company is not obliged to provide any reasons for any such acceptance or rejection. 15. Disqualification Any form of canvassing/lobbying/influence/query regarding short listing, status etc will be a disqualification. 16. Arbitration:- a) Any dispute, controversy or claims arising out of or relating to the services being provided under this RFP, its validity, breach or termination thereof, shall be settled by arbitration in accordance with the provisions of the Indian Arbitration and Conciliation Act, b) All disputes or differences whatsoever arising between the parties out of or relating to the construction, meaning or operation or effect of this RFP or breach thereof shall be referred to arbitration as per provisions of Arbitration and Conciliation Act, 1996 to a sole arbitrator to be appointed by the Company. c) The place of arbitration shall be at Mumbai only. d) The arbitral procedure shall be conducted in the English and any award or awards shall be rendered in English. The procedural law of the arbitration shall be the Indian law. e) The award of the arbitrator shall be final and conclusive and binding upon the Parties, and the Parties shall be entitled (but not obliged) to enter judgment thereon in any one or more of the highest courts having jurisdiction. The Parties further agree that such enforcement shall be subject to the provisions of the Indian Arbitration and Conciliation Act, 1996 and neither Party shall seek to resist the enforcement of any award in India on the basis that award is not subject to such provisions. f) The rights and obligations of the Parties under or pursuant to this Clause shall be under the exclusive jurisdiction of the courts located at Mumbai only. 7

8 17. Nature and scope of the Cover Part -A Sl. No Particulars Remarks 1 Approximate numbers of Debit cards proposed to be 150 lacs covered: 2 Type of Cards proposed under the cover: 3 Per card cover limit Rs. 2,00,000/- 4 Total Sum Assured: Rs. 2 Crore Debit cards under various product name such as Visa Electron, Classic Maestro Debit card, Gold Combi Debit card, VISA Platinum Debit cards, Rupay Debit cards, Baroda Gramin Bank Cards, Baroda Kisan Credit Card Samagra, Bhamashah etc. Part -B Sl. No Particulars Remarks 1 Approximate numbers of 90 lacs Debit cards proposed to be covered: 2 Type of Cards proposed Rupay Debit cards issued under PMJDY. under the cover: 3 Per card cover limit Rs. 25,000/- 4 Total Sum Assured: Rs. 25 lacs Misuse cover includes: Misuse arising out of: Lost/theft/ misplace of Debit card Cloning / Counterfeit of debit card Data theft/identity theft through skimming, phishing, vishing etc., resulting misusing of online /IVRS transactions etc. 8

9 Other Conditions: In case of Loss/theft/misplace of card the period of cover shall be valid up to 72 hours (excluding Sundays, declared holidays and journey time, where the customer is travelling) prior to the time of hot listing. In case of counterfeit claim (i.e for misuse arising out of Cloning / Counterfeit of debit card, Data theft/identity theft through skimming, phishing etc., resulting online /IVRS transactions etc.) the period of cover shall be valid for all the transactions occurred till hot listing of the card by Bobcards Limited. The claim should be settled within 45 days after submission of all the documents Monthly Pro-rata premium will be paid for new cards issued during the year No counter suggestion/ alterations/ amendment to the scope are allowed. 9

10 (On the letterhead of the Company) The Sr. Manager (GA & HRM) Dt. Bobcards Limited 2nd Floor, Baroda House, Behind Dewan Shopping Centre S V Road, Jogeshwari (west) Mumbai Maharashtra Dear Sir, 1. In response to your invitation for expression of Interest for debit card insurance, we are pleased to submit our quote as under in conformity with the terms, conditions and scope of the EOI documents. Particulars For all types of debit cards issued by the Company (except PMJDY cards) For PMJDY cards Rate per card per year (In Rs.) Note 1: The agreed rate per card per year shall be considered for calculation of total premium payable, based on the total no s of debit cards on the date of release of premium. Note 2: Service Tax shall be chargeable extra as per the applicable rate in force. 2. We are enclosing the duly signed and stamped copy of scope document as referred in Part A & B, as a mark of our acceptance to all terms and conditions as defined under the scope document. Yours Faithfully (Authorized Signatory) 10