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New Dethi _ 100008

REQUEST FOR PROPOSAL (RFP)

for

corporate Agency Tie-up Agreement

For Life Insurance Business

Reference Number:

24.07.2019

TqrqWBfrer1m-a rrmrn an rrOt)

etur*

mPunjab & Sind Bank

{A Oovt. of lndla Undortak,ng}

Index

SI No Pa rticu la rs

^L

Page

NoI rLuEuutr ut rllvllallonPreface

-

General In fn"- rmrrl x^-JE t,

2

3 4

4 About RFP --Information fo

-

on.i.ctin. &J.op..-Bid Process

Other Terms & ConditionDisclaimerUrd..t"td"g fV tlr. (A"ne-rrre aQ rga n isatio n Sna psh ot (A rJlglfryr.]).

nization Details (Annexure 4)

4-5

65

(6

78

89-l I

9I l-ll0l3-15l1

l5t2l6- l8l3

l9t420-22l5 Winess Pr.emium (Annexure 5)g"t.quy--I.N *@

Ctrlrn S.ttt..."t n u.e g)

9..Yrr.l, rya".r. re 9)

gent (Anneiu.e l t)-&y Support Areas (Annexure lZ)

23t624-25

t726l82i

t928

2029

2t3t)',3l

23 susrness ftan dt l{evenue Estirnate (Annexurefechnical Proposal (Annexure IU_-

l3) 3224

33-3425

3526 re Lontract tntegntv

lon Disclosure AgreerPact (Annexure l6)rent (Annexure l7)

36-4 r)142

k#

Punjab & Sind Bankr.d

Fr oo r, r,1 * -';'" H,TI' ffl ::'ili,;:,..J,Ttr1

e * i _ r r 0 0 0 8Email: ho.mktg g pshr,.,,.in, Telephone 0l l_25g2J251

corporate Agencv tie-up rr.'filillfl:lP;'J;ilr,.. ro n, the vacanr rrd Srot

z z.os.z o I o- p- to or.oo p;

Asstt. General Manoge.,Punjab & Sind Bank,HO Marketing &Department,3rd Floor, 21, Rajenttra place.New Delhi- I l0 008

Insurance

Tender R.f.*r* PSBiRFP/C@Tender prblirhing dat"

24.07.2019

LastDate@03.08.2019 3J0 p.rn.

Issue of Clirificationi21.08.2019 SJO p.*

Last Date

Dateandri@J0.08.2010 ar Of_lO pm

ho.mktg@psb.coin

Contact Glephore Numbers Phone: 0l l-2SSrr5lSealed RFps to be submitted to

#Punjab C SinO Bank,;"" k TIrl *., J, * r'.."#l'rX, r. r,Jtd Floor, grnLH"o,"tarxeting & Insurance- Department

Emair:,*dffi:hYi:'X:,:* ryf ierhi - rro oo8E m a ir : n",u,_,i,^, "Ili

j lfi .i,ffi :XI lrHl;iPreface to the Invitation document:

This invitation ha:business ro fill the .?::l ":t'led

solelv for the purpose of ccr-rc "il,ii;"d;';f i[XlXf":'"J,|,'l'^^u,lLi;#; ,,;:L

orporate Agencv tie-uo ror Lire Insurarrce

,?."'i;';;;;r:i,. Agenr for third a,,91'; rli, i,tl'rp'^';orporate Agencv rie-up *,,,, sui-iir"'a

b ra n c h es "

i i i,.' e ;, k ;, p,, l; il ; ; # t #,T ffi *":"fi:ili_T,i +ffl,fjJ: r, fl{*j;nUt

rhe provision or rhe insurance business. ;: ::::_:rtoe. regutatorv framework'

ll9:ttt.1'o approprrare documenrari", i:,1t^9"rporate Agent, is subject ro obse.as identined u/tr,. s,,r,,ft;;#oillJ;Tf;f:::1.,*nl:***r,i{;:i....^,?

dr:ij:?;General Informafion about the Bank:Punjab & Sind Ban,i,u'ui. il';;ili'.|.':iJ,..1fl!1i;,?i:.:;:::i,?i;iJri:fl::::us a s,rons cus,omer base and a

'graphtc segment of the public

iiilrE ii,T I:l;F:,r,:..illTl,?:,1,* base or r 0e cr (approx) orcusromers incruding Bankdistributed uv uritr" u*,,.i,..-ii ;,r]'ili,l,i-'f,1i,il: breadth "i;" ;;;;;;:H; producr rnay be

With a view to levtcustomers, to orrer;:H:,,:T;h,iffi;::T::;1ff!JilIJI_illii"?H,H.J:.i::.J:,:il"]1,;#:'"L ffi ll; ?# ffxl ::,' :;u l ffi lHfl : { # :,T#i1".#i, ::*fi , :iil]i i :

a n v e x p e d, .,. y

5i:ffi#l'it vour Life insurance proposal as per the broad specification risred in the invitation

$

Highlights of the Bank,s performance:Parameter

FY t8-t9 fnmt i, crr..rlt71305.07

Joral Buain;;(rNR arr)totatoeposrRlNR cr

98557.60fotat eArarrces(tNEE72747,47CASA Depos,'r (lNR Cil

Net Interestl INR CT

IpSO\R cr)&l_tofit frNnG

-543.48

natio 1Z; eEel ilt0.7t%Net NPA (%

l. scheme-wise Retair Assets outstanding as on 31.03.20r9

Amt in Crore_Type of Retail Loans No. ol'Accounts Amount OutstandingHousing Loan 61391 5589. I 5Education loan 6l 55 281.33Personal r90tI r38.t9Vehicle Loan 44637 I 333.83Mortgage Loan 1983 953..46Total t39177 7348.5

2' Assets under MSME(Micro,small,Metlium Enterprises)outstanding as on 3 1.03.20 I 9

3. scheme-wise Disbursements of Loans from 0r.04.20rg to J0.06.20r9

Amt. in Crore

Amt. outstandin

r62 I .88

Amt in CroreNo. of Accounts Amount Disbursed

Vehicle Loan

12155 1814. I 5

Type of Retail LoanPersonal Loans 6087 662.s1

t2619 658.20Housing LoanMorlgage Loan 23 88 646.92Micro 22712 1444.88Small 1473 808.93Medium 408 356.08

lnvitation Proposal Document for Corporate Aqencv Aereement Life lnsurance (pSB/RFP/CA-LIFE /01/2019-20)

About RFP

In this RFP the term "Punjab & Sind Bank" is refened to as the Bank, which term or expressionunless excluded by or repugnant to context or the meaning thereof. shall be deemed to include itssuccessors and permitted assigns. The bank invites Request for Proposal (hereinafter called RFp)from eligible Life Insurance Companies (Bidder) for "Corporate Agency Tie -up" for soliciting /marketing of their insurance products through Bank's branch network.

Information for Interested Insurers

insurance companies i.e LIC of India & SBI Life Insurance since February 201 7.

Zone-wise position of Branches:

ZONE Rural Semi Urban Iirban l\letrrr 'l'otal

AMRITSAI{ 45 t5 0 33 9l

I]AREILLY 36 t1 l4 0 67

BHATINDA 37 t6 8 0 6t

BHOPAL t7 7 2t lt 56

(]HANDIGAITH l6 28 ll 0 95

CIII'NNAI I I l6 t6 --l:l

DEHRADTiN 27 l0 I9 0 56

DELIII - I 0 0 0 45 45

DELHI .II 0 I 0 68 69

FARIDKOT 60 2t 9 0 90

GANDIIINAGAR 0 I l3 5 l9

GURDASPUR 52 l9 ll I 83

CTIRTiGRAN{ 6 7 23 l0 46

GTIWAIIATI 5 4 t6 0 25

IIOSHIARPTIIi 38 l-l 4 0 55

JAIPt.]R t5 ll l6 8 52

,]ALANI)HAR 29 t9 26 0 74

KOt.KAt-A 7 t0 ,.] I 27 75

LI.]CKNOW 25 20 20 23 tt8

LT]D}{ IANA 38 7 2 24 7t

MUMBAI 0 5 6 26 37

NOIDA t2 4 l0 l9 45

PANCHKULA 28 t9 ?s 0 72

PATIAI,A 44 20 t6 0 80

VI.IAYAWADA 5 2 t4 9 30

TOTAI, 563 271) J5l J25 t5t8

U6 iilq +Ns. ,x

u.ru

Obiectives

IRDAI in its regulations for registration of corporate agents (20r5), opened rhe avenues forcorporate Agents to enter.into m"ultipleii. rp. with insurince companies lirniting the number tomaximum three under each category'i... lir", General r.J u.rr,r, Taking this opportunity, Bankintends to opt for multiple tie-uI uirung.r.rt for life in.rrur." business and plans to add morethan one Life Insurance'company orgo?J rtu'ding in addition tt its current paftner LIC of India.with a view to provide full range of financial products to its customers and to realize fu, varueof its reach and customer basel Bank has taken a view to .rutrut" and thereafter enter intocorporate Agency Arrangement for dislribution of r-ire

-r*urunce products, subject to allstatutory clearances and approvals from all relevant artrrlriii., in this behalf under the extantlaws and regulatory framework.

The Bank would like to enter.into-a corporate Agency Arrangement with suitabre Life rnsurancecompany initially for a period of 3 years with privisiorr t" r3r.* the term solely on the basis ofperformance' It should be noted that "no bind'ing t.gut ,rtutioiship,, will exist 1;;", any ofthe insurance company and the bank during the RFp i.ii"a.rJ rntil execution of an agreement.

Scope of Work

enouglr to restrain our clients from looking elsewhere.

IT & Manpower to cater the customers across the length and breadth of the country.

'dataon policies issued, policy renewals, policies lapsed and craims tlrroug6out the bank withall details on a day to day basis and other details such as scanned copies of proposals formsat regular intervals as may be mutually agreed.

corporate level with complete details every month with applicable GST / other taxes as perstatutory requirement.

branches on the company's por-tarthrough a specific User I.D & password.

wise applicable commission rates shall be Iurnished as per Annexure I0.

function as a Corporate Agent.

lnvitation Proposal Document for Corporate Asencv Arlreement Life lnsurance (PS U/R FPi( A- L lF[: i 0 l/20 I 9-20 )

Annexure-l

Minimum Elieibilitv Criteria

Interested Bidders meeting the following eligibility criteria may respond to this RFP.

o The Applicant Company shall ensure to enclose / attach the relevant documents in supportof each of items above and shall mark a "tick" against yes or no confirming whether theyare satisfying the said criteria.

o The proposals that are failing on any of the Eligibility criteria would be straight awayrejected.

Seal & Signature of the Authorized

Signatory

Sr.No

Eligibility Criteria Support Documents to be

su bmittedYes No

A The Bidder should have valid IRDAIlicense for procuring Life Insurancebusiness in lndia and should havecomplied with all the statutoryrequirements of IRDAI.

Certified copy of IRDAILicense issued by IRDAI whilegranting the License and proofof renewal of license.

B The Bidder should have been inoperation for more than 5 years in Indiaason3l.03.20l9

Certifi cate of Incorporation

C The Bidders should have a solvency ratioof I .50 as on 3 L03,2019.

As per Periodic DisclosureSubmitted to IRDAI

D The Bidders should have at least twochannel partner under Bancassurancewith at least two scheduled commerc:ialbank and the tie-up arrangement shorrldhave been for a minimum period of oneyear as on 3 L03.20 I 9

Self Declaration on the

company letter head stating thedetails of the tie-uparrangement.

E The Bidder should have a minimum of100 branches across India as on31.03.2019

As per Periodic DisclosureSubmitted to IRDAI as on

3 r .03.20 r9.F Bidders must have a minimum claim

settlement ratio of 90o/o as on 3 1.03.2019.

Self Declaration on the

company letter head stating thedetails to be submitted.

G The Bidders should have comprehensiverange of Credit Life & Group Credit LifeInsurance products to cater to the varioussegments of the customer includingprovisions for customization of productsas per requirement of the bank.

Self Declaration

H The bidder should have a net wofth ofnot less than Rs.500 Crore as on 3l-03-2019.

Audited Balance sheet for FY2018- 19 enclosed with clearlyindicating / highlighting thepage no containing Net Worth

8

Bid Process

Bid Document

This document can be downloaded from bank's website - www.psbindia.com till last date ofsubmission. No hard copy of the document will be provided.

The bidder may request for clarification on any clause olRFp document on or before 03/0s/2019 by3'30 pM. Any request for crarification must be sent to Emair ta rhq,uttg(igs[.cit.ut as per ,.Theschedule of Invitation" within the stipulated date. The Bank wiil try to reply" withour any obligationin respectthereof, every reasonableqriery raised by,h.;p;i;;;;i.'ilioL,ta the Bank cleern ir necessar\

:tr]ffl'the Invitation proposal as a resllt of a clirification. it shall do so loilorving,',," or*"0,,r..;

At any time before the submission of proposals. the Bank may amend the RFp by issuing anaddendum and hosting it on the Bank's website. The addendu'n *iit be binding on all the bidders. Togive Bidders reasonable time to take an amendrnent into account in their proposals. the Bank nray. il-the amendment is substantial, extend trre deadrine for sub,ission of proposars.

Rejection of Bids

The Bank reserves the absolute and unconditional right to reject the application in response to thisInvitation for Proposal, if it is not in accordance with the requirements and no correspondence will beentertained by the Bank in the mafter. The bank rnay abort the entire process ar any stage. therebvwithout incurring any liability on any count and without any obligation to inform the afrectedBidder(s) of the grounds for Bank's action. The proposal is liable to be re.iected. if

the authorized representative(s) of the Bidder

information / clarification sought by the llank for evaruarion of the Bid

and shall be entitled to reject any or all offers withouiassigning any reason whatsoever

consideration and shall be summarily rejected.

The applicant may resubmit the proposal, before the deadline for submission. at their own discrerion;such resubmission shall be allowed only once. In case of such resubmission only the resLrbmiftedproposalshall be considered and proposalsubmined initially shall be ignored by the Bank.

ffie'*ffi4,'

Prooosal Validitv

All proposals shall be valid for a period of 180 days from the last date of submission mentioned in

,,schedule of Invitation". The Bank will make its best effort to complete the process within the

specified period. However, should the need arise; the Bank may request the Bidder to extend the

validity period of their proposals. Bidders, who do not agree, have the right to refuse to extend the

validity of their proposals. Under such circumstances. Bank shall not consider such proposals for

further evaluation

accepted after this date and tirne'

photocopy and 2 softcopies by means of CD. The documents in the CD shoLrld be in no other

format other than the MS Word.

specified in the RFP.

the bank in evaluation Process.

The Bank reserves the right to accept or reject any application without assigning any reason

whatsoever.

Preparation of Proposals

In preparing their Proposal, Bidders are expected to examine in detail the documents comprising the

RFp. Material deficiencies in providing the information requested may result in rejection of a

Proposal.

While preparing the Proposal. the Bidder must give parlicular aftention to the fbllowing:

among those mentioned in Annex I to Annexure l7'

for large numbers.

unless otherwise specifi ed.

Submission of the data in wrong fype of forrnats will result in Proposal being deemed non responsive.

lry-h10

,Y

The original Bid shall contain no interlineations or overwriting, except as necessary to correct errorsmade by the Bidders thenrselves' The person, who has signed the proposar, must authenticate suchcorrections by initial.

An authorized representative who would be sigrring the Submission letter shall initial all pages of theoriginal Bid document with Cornpany seal.

The Bid document along with tlre data as per the fbrmats mentioned in the Data Sheet must besubmitted at Punjab & Sind Bank Head office, Marketing & Insurance Department, 3d Floor. 2 rRajendra Place' New Delhi -100008, by the date and time mentioned in,,schedule of Invitation,.sheet' in a single sealed envelope duly super scribed "punjab & sind Bank - RFp for corporateAgency Tie-up Agreement for Life Insurance Business." No proposal through mail or post will beaccepted.

The bidders who would want to be present at the time of opening of bids may send theirrepresentatives on the given date and time.

The bank is a public sector bank. The bank and its officials are bound by guidelines of governanceand transparency in process. The Bank has undertaken the RFp process to ensure tlrat there istransparency and fairness in the process of selection of suitable insurance paftnerand the barrk and itscustomers get the best possible supporl and service to the extent permitted by IRDAI.

Therefore frorn the time the Proposals are opened to the time the Bidders are shortlisted, the Biddershould not contact the Bank or any officials of the bank on any matter, except to seek clarificationscorrespond to the quarries of the bank in writing or email. Anyeffort by the bidders to influence theBank in the examination, evaluation, ranking of proposals, and recommendation for award shall resultin the rejection of the Bidders Proposal. The Bank reseryes right to seek clarifications from theBidders.

Costs Borne bv Anplicants

All cost and expenses (whether in terms of time or material or money ) incuned by the Applicants inany way associated with the development, preparation and submission of ,"rponr.'. inctuding but notIimited to attendance at meetings,' discusiions, demonstrations, etc and providing any additionalinformation required by Bank, wilt be borne entirely and exclusively by the Applicants.

Selection process shall consist of two stages:

stage l: A Proposal shall be rejected, if it does not meet the Minimum Eligibility criteria on any

iJJ:ffili*:ated in this docurnent. only eligible proposars shal be'further taken ui

stage 2: Technical Evaluation of all eligible bids will be done on the basis of the informationsought in this document and through the Technical proposal eorrut. rrris will carry aweightage of 60 marks. The short listing will be based on the evaluation parameters &the weightage for each of these parameters.

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lnvitation Proposal Document for Coroorate Asencv Asreement Life lnsurance (PSB/RFP/CA-LIFE /01/2019-20 )

Stage 3: The Bank intends to invite the qualified bidders for a PRESENTATION before the GMCornmittee appointed by the []ank based on the scores obtained in Technical evaluation.

The presentation will carry a weightage of 20 marks. The presentation shall broadly comprise ofthe following:

> Training & SP Licensing Support

> Strategy to achieve Revenue Projection for coming 3 financialyears

> Online access for system generated MIS

Shortlisted Bidders will be intimated about the date and timing of presentation through e-mailover mail Ids of bidders as given in the bid document. The Bank, however reserves the right todecide on the number of bidders to be invited for tlre presentation round.

Bidders will be ranked on the basis of the sum total of the marks scored in Technical Evaluationprocess. Marks would not be awarded in fractions. The Bank shall perform its own individualchecking and marking on the parameters as per Technical Evaluation. The Bank intends to enter intoCorporate Agency arrangement with the top bidder (in terms of marks scored). In case two or moreApplicants score the same number of marks, the top bidder will selected on the basis of the followingcriteria:

Criteria l: Higher number of tie ups with PSU

If top bidder could not be selected u,ith Criteria I then

Criteria 2: Longer period of tie up with PSU

The tie up between the selected Company and the Bank shall be for a minimum period of 3 (three)years subject to termination, commencing frorn a date to be determined /advised after cornpletion ofthe process of selection subject to other provisions in this document. The arrangement may continuethereafter at the discretion of the Bank, subject to satisfactory performance.

The tie-up can be terminated by either party before the expiry of initial period of three years orextended period, if any, in accordance with the IRDAI Regulations.

In case successful bidder is not agreeable to signing the service level agreement or impose anyconditions not acceptable to the Bank or communicate any changes from tlreir stated responses in theInvitation Document which may not be acceptable to the Bank, the Bank may at its sole discretiondecide to partner with the next ranked bidder / bidders. Here it would be pertinent to mention thatBank shall be within its rights to stipulate such terms and conditions as it may deem fit including thegood practices to be followed by the insurance company and those which it should not adopt, in theAgreement / Memorandum of Understanding.

The Bank reserves the right to accept or reject any application without assigning any reasonwhatsoever at any stage of the process.

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Other Terms and Conditions

1. Force Maieure:

):ilxi:lx1;?,lT ;::i: il:":il:',[: ;::T],":,:.TJ,:..,, no, be, ia b,e ro.erm i na,ion on

Contract is the result of an event "i O"*",rr;F::l "J^r".l::. to perfonn its obtigations under rhe

mean s an event bevond the contror "r,,; il,fflT:',,::', lJj[:[ il#t:lT? ;i::1 *.*and not foreseeable' such event' tuy'ii-,.trde, but are not iestricted to, wars or revorutions and

epidemics' If a Force Majeure'it'ution urises, the Bidder rrruir i.orptry notify the Bank in writing of

*f iil ir;.'fl1,'[:;T:il il;:,y:*i**;'..,"I,;:i*.,: * :_, *' *] i,, *,h e B d-d e r

seek altreasonabre arrernative r"ln, orp".n,rrunce not;;;;ilT;ilrlfl:?.lJ:::,:ifld shau

2. ConfidentialiE:

The bank is bound by an agreement of confidentiality and secrecy with regard to the dearirgs of a,customers' particularly tlre borrowers. The serected Bidder shail take ail precautions rlthe information totally confidential uno uno., no circumsrur.., i, wir be discrosei f::t;iil.f;Tior competitors' The Bidder shall render himself ,,.0,. a, oiouarification/premature termination ofcontract apart from other legal action as may be warranted foentitred to be indemnified bv th. sioJ* fo, any ross/dam.*. ,r'rlrilf:,jr# [rr;T"il;ff:fj;confidentiarity. The information ..f.rr.d to shail incruJe but not restricted toinformation concerning the Bank and its customers which the Bidders comes ro know ffi jf,iJ;;Iof its being associated with the bank thro;;h the contra.t *t i"t tt "

Bidder otherwise wourd not havehad access to' The Bidder shall also ,", ,ri"n. any news ,"rrurr, public announcements or any otherreference on RFP on contract without obrain;n; ;;;ffi;"n consenr from the Bank. Anyffi:i[H::ll|:lli,iJiH:'"'v /Photostat / Erectronic or anv orher means is strictry prohibited

3. Resolution of Disoutes

All disputes and controversies between the Bank and the Bidder shail be subject to the excrusivellTli::ffif

the courts in New o"tl'i una the parties ur... io submiilhemserves to the jurisdiction

4. Period of Tie Urr

The tie up between the selected Insurance companies and the Bank shail be for a minimum period ofThree years, subject to provision of termination crauses una ur*ur review by the Bank.5. Arbitration

If a dispute' controversy- or claim arises out of or rerates to the contract, or breach, termination orinvalidiry thereof' ana ir til;;;;;' ".ont.or".ry

or craim cannot be settred anJ ,esoruea by rheBank and the cornpany through Jf.^ii", and negotiati;., ;; tne pa.ties srr;it ;;;," such dispure rosole Arbitrator appointe{byihe g.;k. ir.,..arbitiation ,h;ii ;; conducted in Engrish and a wrirtenorder shall be prepared' rne

'enue oiil-,.'uruir.ution ,l.,uii1r.i.ry1* Derhi. rrr.iriitrrtion sha, beffi?, il:l;:l,"ffi:":i[:[fii;:*::""'con.iriuiio, o.,,',ee6 rhe;..;,;-or,n. arbitraror

13

Invitation Proposal Document for Corporate Asencv Apreement Life lnsurance (trsLl/RFP/CA-LIFtr /0 l/2019-20)

6. Inspection of Record

All Bidder records with respect to any matler covered by this tender (RFP) shall be made available tothe Bank at any time during normal business hours, as often as Bank deems necessary, to audit,examine, and make excerpts or transcripts of all relevant data.

7. Sisnine of Pre-Contract Intesritv Pact

To ensure transparency, equity, and competitiveness and in compliance with the CVC guidelines, thistender shall be covered under the Integrity Pact (lP) policy of the Bank. The Pact essentially envisagesan agreement between tlre prospective bidders/vendors and the Bank committing the persons/officialsof both the parties, not to exercise any corrupt influence on any aspect of the contract. The format oftheagreementisenclosedasAnnexure-16. Signingof IntegrityPactwithBankwouldbeoneofthepreliminary qualificatiorrs for fufiher evaluation. ln other words. entering into this pact would be oneof the preliminary qualifications for this tender and the pact shall be effective from the stage ofinvitation of bids till the complete execution of the contract. Any vendor/ bidder not signing thedocument or refusing to sign shall be disqualified in the bidding process,

8. Service Level Agreement:

Upon completion of the selection process, the Bank shall arrange to enter into agreement with theselected Life Insurance Company who shall agree to the terms and conditions stipulated by the Bankwhich among other conditions will also include the following:

a) The Company should agree to the performance standards stipulated by the Bank and complywith the process flow as per Invitation Document.

b) The Company should maintain all the records related to policy documents of the policyholders and ensure its safe custody.

c) The Company should be able to provide online system access for MIS as well as provide MISreports related to business under this contract to the Bank as per requirements from time totime.

d) It will be the sole responsibility of the Cornpany to provide uninterrupted service to thecustomer/s.

e) The Cornpany and its representatives should mairrtain secrecy and confidentiality of allrecords and information shared under this contract.

0 The Company should indemnify the Bank for breach of confidentiality and obligations by thecompany, its representatives and agents at the first demand by the Bank.

g) The Company shall indemnifo, protect and save the Bank against all claims, losses, costs,damages, expenses, action suits and other proceedings, resulting from infringement of arrylaw pertaining to patent, trademarks, copyrights etc. or such other statutory infringements inrespect of its insurance business.

h) The Company should procure necessary licenses, permissions and approvals from tlrecompetent authority and comply with all applicable laws in respect of insurance businessdone by them as well as in relation to the sub contractors engaged by them.

i) Tlie Company should provide indernnity to the Bank against all claims" costs and actions forall cornmissions and omissions by the service provider and its representatives.

j) The Bank sliall have the right to terminate the agreement by issue of notice without assigningreason and also in tlre case of breach of contractual obligations by tlre selected InsuranceCompany. The selected Company shall not terminate the agreement for convenience. Thetertninatiorrs however would be irr accordance with the IRDAI Regulatiorrs.

k) The Bank / RBI, or any other regulatory authority shall have right to audit the records of theCompany

1.4

m)n)

#-Prt*,ffJr,l[.o"tt penaltv and Liquidated Damages if the performance is not as per

The Bank shall have right to Set off any amount which is due to the company.In any condition Bank shail not be riabr! to pay damages to the company.

9. Other Terms & Conditions:

a) The Life Insurance company should subrnit the process document on application collection,premium reconciliation and claim settlement u. p", iorrut given in the Invitation Document.b) Iiil;TFny

will open a current accounr with the Bank fbr coltection of premiums /c) The company should have a wide range of credit life insurarrce & group credit life insuranceproducts ott unit linked and non-unjtlirr.o platform, riders,.ur,Jrirriiroducts based onthe need and requirement of the Bank customers.d) The products should be in line with the market conditions and should be cornpetitive enough,to restrain our clients from looking elsewhere.e) The company shourd have a fair aird speedy craim settrement record.f) The company should be technology enabled and install interface utility, so as ro be in apositiorr to provide the Bank with liit of the policies issued on pan India basis with all detailsand consolidated statement for the same be also submitted by the to,h or the succeedingmonth, disclosing calculation of commission for internal/ external audit purpose.g) The company should be in a position to remit tn. ,.u.nr. / commissio, fuyuur. to rhe Bankevery month at the corporate leve.l with complete details fortnightly i." [f'tn" I5,r ;i;Cmonth and also on the last day of the month.h) The selected Insura.nce company shr:uld provide necessary training to tlre staff of the Bank.i) The finally selected insurance.orp.ny shall give an indemnity to"the gunk ut time of signingof agreement to the effect that they will not-use or part with the Bank's data fbr any otherpurpose other than its intended purpose.

Disclaimer

The inforrlation contained in this Request for Proposal (RFp) document or information providedsubsequently to bidders or applicants whettrer verbally or in documentary forrn by or on belralf ofPunjab & Sind Bank, is provided to the bidde(s) on the terms and conditions set out in this RFpdocument and all other terms and conditions subject to which such information is provided. This RFpdocument is not an agreement and is not an offer or invitation by punjab & Sind Bank to any partiesother than the applicant(s) who are qualilied to submit the bids ( hereinafter individually andcollectively referred to as " Bidder" or "Bidders" respectively). The purpose of this RFp is to providethe bidders with information to assist the formulation of their proposals. This RFp does not claim tocontain all the information as required by Bidder (s). Each Bidder may conduct its own independentinvestigations and analysis and is free to check the accuracy, reliability and completeness of theinformation in this RFP. Bank makes no representation or warranty and shall incur no liability underany law, statute, rules or regulations as to the accuracy, reliability or completeness of this RFp. Theinformation contained in this RFP docurnent is selective and is sLrb.ject to updating. expansior.revision and amendment' It does not purport to contain all the information that a bidder require.Puniab & Sind Bank does not undertake to provide any bidder with access to anv additionalinformatiott or to update tlre information in the RFP document or to correct anv

15

Annexure - 2

Undertakins bv the Anplicant / Bidder

Date:lnvitation Reference No.:

To

The Asstt. Ceneral ManagerPunjab & Sind Bank,Marketing & Insurance Department,3'd Floor, 21, Rajendra Place,New Delhi - I l0 008

Dear Sir,

Sub: Invitation for proposed Corporate Agency Arrangement with Punjab & Sind Bank forLife

Insurance.

We, the urrdersigrred are duly authorized to represent and act on behalf of .... ......... interms of the enclosed Board Resolution.

Having reviewed and fully understood all information provided in the Invitation for proposalDocument dated ......1.... issued by the Bank, . is hereby tendering the proposal. Asrequired we are enclosing the following:

a. Proposal as per the Invitation Document;b' Other details and supporting documents in response to the requirements outlined in the

Invitation Document;c. Technical Proposal;

Our Proposal is unconditional, valid and open for acceptance by the Bank up until, 180 daysfrom the last date of submission of the proposal.

We undertake that we shall make availahle to the Bank any additional information / clarification itmay find necessary or require to supplenrent or authenticate the proposal.

We hereby agree, undertake and declare as under:

a.

b.

We have examined and have no reservations in respect of the proposal document.Our proposal is, in all respects, in compliance with the requirements of the InvitationDocument. Without prejudice to the foregoing, notwithstanding any qualifications orconditions, whether implied or otherwise, contained in our proposal, *" h.r.6y represent and

16

lnvitation Proposal Document for coroorate Asencv Asreement Life lnsurance (psB/RF p/cA-LIFti /0 l/201g-20)

c.

d,

e.

f.

confirm that our Proposal is unqualified and unconditional and is without any deviations,conditions or any assumptions in all respects;We confirm and declare that we have sound business policies, ethical values and are acustomer / insured friendly organization and shall not do ariy act which may have the effect ofreputational and other losses, damages to the Bank.We confirm that we are complying with the IRDAI guidelines.Notwithstanding any qualifications or conditiorrs, whether implied or otherwise, contained inour Proposal, we hereby agree and undertake to keep this Proposal valid and open foracceptance without unilaterally varying or amending its terms for the period, including anyextended period, as specified in accordance with the proposal.We declare that in the event that the Bank discovers anything contrary to our abovedeclarations, it is empowered to forthwith disqualify us and oui proporal.We undertake tliat in case due to any change in facts or circumstances or applicable lawduring the process, we are disqualified in terms of the proposal, we shall intimate the Bank ofthe same immediately.

h. We further declare that we have not been declaredpractices in any process in the past and have not beenregulatory authority or stock exchange.

j

We confirm that the Bank and its authorized representatives are hereby authorized to conductany inquiry or investigation to verif, tlre veracity of the statements, documents, andinforrnation submitted in connection with this proposal and to seek clarifications from ouradvisors and clients regarding any financial and technical aspects.This letter will also serve as authorization to any individual or authorized representative ofany entity referred to in the supporting information, to provide such inforrnation deemednecessary and requested by yourself to verify statements and information provided in thisProposal, or with regard to our resources, experience, and competence.We hereby irrevocably waive any right which we may have at any stage at law or howsoeverotherwise arising to challenge or question any decision taken by the Bank in connection withthe selection of the Proposer, or in connection with the procesi itself, in respect of the abovementioned Proposed rie-up and the terms and implementation thereof,This letter also serves an authorify to the Bank to furnish any information related to theProposer in relation to Lh. proposed Corporate Agency Arrangement to any Regulatory /Statutory authority in India to which the Bank & its proposed Corporate Agenry Arr:angementis subjected to.

k.

l.

We understand that:

oD'

ineligible for corrupt or fraudulentblacklisted by any governmental or

c.

a.

b.

d.

All informatiorr submitted under this proposal shall remain binding upon us.The Bank may in their absolute discretion reject or accept any Proposal, carrcel theapplication.We acknowledge the Right of the Bank to reject our Proposal without assigning any reason orprocess for the proposed Tie-Up and reject all proposals at any rtug. of the process.otherwise arrd hereby waive or,rr right or challenge the same on any account whatsoever.The Bank is not bound to accept any Proposal that it may receive pursuant to the invitatiorr forproposal.

We acknowledge that the Bank will be relying on the information provided in tlre proposal andthe documents accompanying such Proposal for selection of the Proposers and we declare that allstatements made by us and all the infbrmation pursuant to this letter are complete, true andaccurate to the best of our knowledge and belief.

,.i6-S\

lnvitation Prooosal Document for corporate Aeencv Asreement Life lnsurance (psB/RFp/cA-LIFE /01/201g-20)

o We hereby unconditionally undertake and commit to comply with the timelines as specified interms of tlre invitation for proposal or as extended by the Bank from time to time at its solediscretion.

This Proposal shall be governed by and construed in all respects according to the laws of lndia.Courls in New Delhi, India, shall have exclusive jurisdiction in relation io uny dispute arisingfrom the proposal, this Proposal and the proposal process.

All the terms used herein but not defined, shall have the meaning as ascribed thereto under theInvitation for Proposal.

All the information furnished by us here in above is correct to the best of our knowledge andbelief.

o We agree that the decision of Punjab & Sind Bank in selection process will be final and bindingon us.

o We categorically confirm that we have not been barred / blacklisted / disqualified by anyRegulators / Statutory Body in India and we understand that if any false information is detected ata later date, the assignment shall be cancelled at the discretion olthe Bank, and we shall be liablefbr any consequential loss.

Name of the Proposer

Signature of the Authorized Person

Name of the Authorized Person

Company rubber stamp/seal

Date:

Place:

18

Name of the Applicanr Firm

Tel. No.

Email Address

Nanres of the JV pa(nersI

Annexure-3

---!I

Complete Address for HO

Company website

Name of person to be contacted w.r.t RFp

Mobile No

Year of Establishment

Month & Year of Commencement of Business

IRDAI License Number & Date

Financial Inforrrurtionlf V; 2016-17 2017-18 2018-19a. Invested Capitat llNn C[

b. Profit / 1t-osi[Ee. r*ffiJ4c. Solvency Ratio

d. Asser urd"r tvtanagEnentleaMlXNR CI.

Business Informati,ln (F-Y) 20t 6- t7 2017-18 20t8-19a. New Business premium _ Total (Cr)

b. Number of policies (Regular policies)

c. New Brsiniss Fremiumllniilarat Retti?ar)through Bancassurance Channel--'' rv!'

d. New gusiness Fremm:Eru,ut ilstnesrcr)through Bancassuran." ct riiil1""""'"'

19

Annexure - 4

ORGANIZATION DETAILS

A. Please provide Shareholdins Pattem of the Bidder as on date.

B. Please provide List of Board of Directors of the Bidder as on Date with a brief background ofeach one of them.

f({€ rtltr C;\

f**6*5'SJ-,y

20

C. Please provide the available locations for sales & service support in following State/UTas on 31.03.2019 format belLo()n J r.uJ.zury as per Iorn1a w:

State Rural Semi LIrban [.]r ba n Metro TotalBiddersPrese nce

ANDIIITA PRADESH 0 0 4 j 7

ARUNACHAI, PRADESII 0 I 0 0 I

ASSAM 2 , l0 0 l4

BIHAR 0 ) l0 4 l6

clt.\Nt)tGARlt 0 I 23 0 24

(]III IA'I'1'ISC,\RII 7 I 6 l6

DELHI 0 I 0 ill il4

coA 0 I 0 0 I

CUJARAT 0 I ll 5 l9

HARYANA JJ 25 39 4 t0l

HIN{ACHAL PRADESH l6 l0 ') 0 28

JAN{]VIU & KASHMIR 2 7 6 I r6

JI{ARKHAND 2 4 5 6 t7

KARNATAKA 0 I 5 7 tlKERALA 0 0 4 0 4

N,IADHYA PRADESTI IO 6 t5 9 40

\{AIIARASHTRA 0 4 6 26 l6

MANIPI.IR 2 0 , 0 1

]!IE(;HALA\',\ 0 0 I 0 I

MIZORAM 0 0 I 0 I

NAGAT,AND 0 I I 0 1

ODISHA 6 2 l0 0 l8

PUDUCI{ERRY 0 0 I 0 I

PUNJAB 36r 140 76 57 634

RAJASTHAN t5 l3 l6 8 52

SIKKIM 0 0 I 0 I

TAMIL NADU I 0 6 I l6

TELENGANA I 0 I 6 8

]'RIPT IRA I 0 I 0 2

T]T-I'AR PRADESH 85 40 56 ,18 ll9I.JTTARAKHANT) l6 12 t6 0 44

WES'T BENGAI, -.].1 l4 t7 l8

TOl'AL 563 279 Jst 325 t5 t8

*\.or$'t.

{ ^{,

't#'

tt$

.t*

21.

D. Please provide the structure and hierarchy of Bancassurance Deparlment as on date.

E. Pleas-e.provide the List of Top Management Executives of the Bidder as on Date withtheirNames, Designation & E Mail II's in the format as given berow:

Name Designation E MailId

Annexure - 5

New Business Premium - Retail (Cr)

2016-t7 FY20l7-18 FY20t8-19

Corporate Agents (Banks)

Corporate Agents (Others)

Corporate Agency Business

through Promoter Bank

TOTAL PREMIUM FROM NEWBUSINESS

fu:* '

INDI VIDUAL (RETAIL) BUSINESS

Channel

Brokers

Others

Annexure - 6

INDIVIDUAL(RETAIL) BUSINESS)

Category wise break up of Retail IndividualNew Business Premium for last 3 Fy,s in the format as givenbelow

SI

No.Details 2016-17 2017-18 2018-19

I Total New BusinessPremium(a+b)

(a) Single Premium(b) Regular premium

2 Annualized New Businesspremium

J Renewal premium4 Prod uct Mi x(a+b+c+d+e+f+g)(a) Unit Linked Producr(b) Whole Life(c) Children's Plan(d) Endowment Plan(e) Term Life(0 Group Credit Life(e) Others (IfAny)5 Total No of Policies issued6 Average premium per policy7 Average sum assured per

policy8 Persistency Ratio (%)(a) For l3'h month(b) For 25'h month(c) For 3Ttr,Month

{"-f,,ry\'"J"l

Please provide Category Wise break up of lndividual Life Retail New Business premium tbr last 3 Fy,s in theformat as given below:

FY Participating

Policies

Non-

Parlicipating

Policies

Cuaranteed

Products

ULIP Regular

Premium

Policies

]'otal NBP -

Individual

RetailFY 2016 - l7

FY 2017 - l8

FY 2018 - l9

216 tsr q'*-aq-{

k$s

Annexure - 7

Please provide details for last 3 Fy,s in the as given below:

Please give additional details of any other fine penalties imposed by any government body or court in India

Penalty(Yes/No)

Amount ofPenalty(rNR)

Detailed Reason for thepenalty

Y 2016-17

2017-18

Y 2018-le

3o.to" *\

$$

Period No ol'Incidences

Annexure - BCI IM SFTTT F'MF,NT N T

licy_wise & Number of Claims_wise)

2016-17 2017-t8 2018- I 9

Claimsp.n@(A)Claimsinri@year(B)

Toral Claim;GA+B,

Claims paid @Claims .epua,-*.Ole;

Claims WrittenEa.L lf y

3];',''pendinffi

2016-17 2017-18 2018-19

c.laimsp.n@(A)ctaimsintim@year(B)

Total Claims (C=a+A)Claims paid (DClaims repr?iated (EClaims Writt.n-gu.k (f9llirrp.noing@

flE\ 27

\ .ell, ,a\ il

re.tk/5

"r wd

\k

2. Group Claims Status (Number of policy-wise & Number of Claims-wise)

Annexure - 9

OpeningBalance ofGrievances

clf

Crievances

reportedduring the

Year

No. of grievances resolved

!!!'ng rhe yearNo. of

grievancespending atthe end ofthe year

fta "'" s*1

[..f,1\[,"*o'

Annexure - I 0

Name of theProduct

Product Category _ CreditL ife/Endowr.nilMun.uBack/U L I p/pens ion/T,ermetc. and premium paymentTerm/Policy Term

MaximumCommissionapproved byIRDAI(forvarious policyterms and

Maximurn.orrffinolfered to the BankWithin the permissibleIRDA I regulations andgu idelines

29

FOR INDIVIDUAL

Annexure - I I

ARRANGEMENTHas the bidder bundred its producilith any u.r.y^lri*irity product of any ScB ti, date:

Yes / No

Name ortneTEg No of yeais of partne.strffiIndividual Retail LifeInsurance Business

o:MM/Y

If yes then please provide the rist of SCBs as on date as per berow fbrmat:

Name of the SCB

Producr bundliI

arrangement since(MM/Y\,)

Bundling

Segment -Asset/Liability

Type of

Product bundling

30

a briefwriteipiifrb u na I i ng a rra nge me n tfris i n 1o rce

Annexure - I 2KEY SU'PPORT AREAS

3.;m,?flj;i:[l] ;:i, certification experience with existing corporare Asents _ a

Please provide details,ur., a,iJ;i;;#;'of training capacity and support to be provided to punjab & Sind Bank ror

;[::1Til:,:il'Jili'*it'Jffiffif|;H;?Hj::n," be provided ro the bank ror integrating rhe

MANPOWER SUPPORT

Please provide detairs ofdedicated manpower support that bidder nfirst year of association to .uke .u.. ;i;il and distribution a.tiriiilXloses to deploy for the bank in its

- t3Annexure

l]::. provide u 3 y:ul business ptan & revpartnership with the biOO.r. efr" pl.lr. pfiriaeDusrness & revenue numDers.

rue estimate for the bank from the corporoetaited srraresy ro rhe bank r"r r.ill"#:;ffir&?:T:J

Parameter

Number of policies (NOp)

New Business premium (Cr)

Renewal premium (Cr)

Revenue to the Bank (Cr)

ffi

Annexure - l4

TECHNICAL PROPOSAL

Parameters for Evaluation of Proposals of the Appricants / Bidders meeting the Erigibitity Criteria

NAME OF THE INSURANCE COMPANY:

s.No

Jcriteria&FI

( All information arguidelines and

td data must be as per the IRDAI

*h,-=---r-

Data to befurnished

by theCompany

I ,,_,. ,,Scores

I

i Marks to

iu.Awarded

byl_ Bank l

I

zu l9

th.l.,t3Fv;Crowth in last 3 years =3Urowth in last 2 years =lOthers -^

rvrarch J I

J2

3J Growth;ffi

Yes= 3l No=O: Others=l

t=

4

;)J

J

6. r " y 4, quLrvE: .): 1

Ner worth of the C J

fjQ ioo:l;ubor. 6oo=2 rE'''

5hare ofBancurrrFFysending March rffi;ioverall

uusiness @,slngle Premium sa#---=:-=--_ar;.ur.rr;.. .i,.rrlir"llrri, perc€ntase or total-lrt", Er

27

28

39

60%o:0: 60yo - <65yo =5'h Month p...[["^) I

t: !!'/?- 1Y = 2: 70% and above = 3 J

t0 2

FYl8-19 J prsrntum, tor the company at the end

3II

FYl8-19 ./ rtlr rne company at the end

bove = 33

{\El+*

33

r.v,r,,urrr,, ror tne company at the end

t2 Sur.enderffi,,

F:IlYl_____:,:!_ I 0 = 2: above I 0 = 0I trend of outstandinrH--

20-93 - Il 93 -95 : 2; above 95 = l;;.J.

ot' oursrand ing c lai m;G um b;D@

:

Jl3

t4

l5

J

,

Jt6

t7J

ffi3, yes=l; Adequate =2 (Score will be given on the basis of

H

l8 )

2t9

ch an n e I. E x p res s N 11,

u,.r, 3r

.;; il;;. J'Jj#rTT::1,: r..

(Aggnts nor ro be included)aJ

20

2tlo-L5-2=l : 2-2.5g. ehn,o I (-.r

2

J22

r'ars, .,,pr;;;; ;H;H|||.,f ffi 'o"o bv the ;,p,,(

(l -2 Score will he o,.,o^ ^h +L^ r- .

2

I

Ce.tin"O60

ro be signed nv tr,. cro;;#.llfii|'"s..

Form of Board Resotution

CERTIFIED TRUE COPY OF THE MEETING OF THE..... (Appticant) HELD ON................ ar

Annexure - l S

BOARD OF DIRECTOR OF

..RESOLVED THAT

specimen ,is,,.i,*,;pp;;;;;i;*, ;; .;; Ti+liii'"ffi1i,i",1;;;;; .,in",,J,1t1rJ,ifiTl;illi,xldeeds and things as are necessary or requirecl i, .d...lii"r' **i,t., o,. incidentar to'submission of ourApplication / Bid and finarization or"rrii.-ro,*ith the prr;"u a sino Ba.nk (,,Bank,,), in response to the

frf"{Tj;??;;'l.T:',1,il;;,, ;,j,',:::,H{ $,."T;;in:.,ry."i,h;a#;J, i,.r,oi,g L;;;;;Bids and orher conferences and lrouioing information ,r.ro"rr.. ,""til[tJnil:.X',ll,J,ti;fi[,1.ffil:;;in all matters before the Bank JnJ;ff.ii; dealing *i,r,, !r.'gr.k in ail matteis in connecrion with ori,to'.t"'*

to or arising out of our eiJ "rd

ih"'bid procJss ,raJ, "r,i'rrized

to negoriare and concrude the tie

Specimen signatureName:Designation:

Specimen signatureName:Designation:

Certified true copy for and on behalf of . . .. (Applicant Company)

Signature of the Authorized person with dateName of the Authorized personCompany Rubber stamp/seal

@3

PRE CONTRACT INTEGRITY PACT ANNEXURE - 16

General

This pre-bid pre contract Agreement (hereinafter called the integrity pacr is made on day of themonth of 201--, between, on one hand, punjab and Sind Bank, acting throughShri............. ......., Designation.......... ......., punjab and Sind Bank,Govemment of India Undertaking (hereinafter called the "BUYER" which expression shall mean andinclude, unless the context otherwise requires, his successors in office and assigns) of the first part andM/s.............. ..,....,...represented by Shri....... , authorized signatory ofM/s""""""' ".(hereinafter called the "BIDDER/SELLER" which expression shallmean and include, unless the context otherwise requires, his successors and permitted assigns)of thesecond part .

WHEREAS the BUYER proposes to procure (Name of the Store/EquipmenVirem and the BIDDER/SELLER is willing to offer / has offered the store and

wHEREAS the BIDDER is a private company/public company/Government /undertaking /parrnership/registered export agency, constituted in accordance with the relevant law in the matter and the BUyER isa Government of India, pSU Bank.

Now, THEREFORE,

To avoid all forms of corruption by following a system that is fair, transparent and free from anyinfluence /prejudiced dealings prior to, during and subsequent to the cunency ofthe contract to be enteredinto with a view to:-

Enabling the BUYER to obtain the desired said store/equipment at a competitive price in confbrmity withthe defined specifications by avoiding the high cost and the distortionary impact of corruption on publicprocurement, and

Enabling the BIDDERS to abstain from bribing or indulging in any corrupt practice in order to secure thecontract by providing assurance to them that their competitors will also abstain from bribing and otherconupt practices and the BUYER will comnrit to prevent corruption, in any form, by its offlcials byfol lowi ng transparent proced ures.

The parties hereby agree to enter into this integrity pact and agree as follows:-

1. Commitments of the BUyER

l'1 The BUYER undertakes that no official of the BUYER, connected directly or indirectly with thecontract, will demand, take a promise for or accept directly or accept, directly or ihrough intermediaries.any bribe, consideration, gift, reward favor or any material or immaterial benefit or" uny other advantagefrom the BIDDER, either for themselves or for any person, organization or third party related to thecontract in exchange for an advantage in the bidding process, bid evaluation contracting orimplementation process related to the contract.

{,-s-

lnvitation Proposal Document for Corporate Asencv Aqreement Life lnsurance (PSB/RFp/CA-L,lF'E /01/2019-20)

1,2 The BUYER will, during the pre-contract stage treat all BIDDERs alike, and will provide to allBIDDERs the same information and will not provide any such information to any particular BIDDERwhich could afford an advantage to that particular BIDDER in comparison to other BIDDERs.

1.3 All the officials of the BUYER will report to the appropriate Govemment office any attempted orcompleted breaches of the above commitment as well as any substantial suspicion of such a breach.

2. In case any such preceding misconduct on the part of such official(s) is reported by the BIDDER tothe BUYER with full and verifiable facts and the same is prima facie found to be correcr by the BUYER.necessary disciplinary proceedings, or any other action as deemed fit including criminal proceedingsmay be initiated by the BUYER and such a person shall be debarred from furtherdealings related to thecontract process. In such a case while an enquiry is being conducted by the BUYER the proceedingsunder the contract would not be stalled.

3. Commitment of BIDDERS

The BIDDERs commit itself to all take all measures necessary to prevent corrupt practices, unfair meansand illegal activates during any stage ofits bid or during any pre-contract or post- contract stage in order tosecure the contract or in furlherance to secure it and in particular commit itself to the following:-

3.1 The BIDDER will not offer, directly or through intermediaries, any bribe, gift, consideration, reward,favor, any material or immaterial benefit or other advantage, commission, fees, brokerage or inducement toany official of the BUYER, connected directly or indirectly with the bidding process, or to any person,organization or third party related to the contract in exchange for any advantage in the bidding, evaluationcontracting and implementation of the contract.

3.2 The BIDDER further undertakes that it has not given, offered or promised to give. directly orindirectly any bribe, gift, consideration, reward, favor, any material benefit or other advantage commissionfees, brokerage or inducement to any official of the BUYER or otherwise in procuring the contractforbearing to do or having done any act in relation to the obtaining or execution olthe contract or any othercontract with the Government for showing or for bearing to show favor or disfavor to any person inrelation to the contract or any other contract with the Government.

3.3 BIDDERs shall disclose the name and address of agents and representatives and Indian BIDDERs shalldisclose their foreign principals or associates.

3.4 BIDDERs shall disclose the payment to be made by them to agents/brokerage or any otherintermediary, in connection with this bid/contract.

3.5 The BIDDER further confirms and declares to the BUYER that rhe BIDDER is rhe originalmanufacturerlintegratorlauthorized Government sponsored expon entity of the defense stores and has notengaged any individual or firm or company whether Indian or foreign to intercede, facilitate or in any wayto recommend to the BUYER or any of its functionaries, whether officially or unoftlcially to the award ofthe contract to the BIDDER, nor has such any amount been paid promised or intended to be paid to anysuch Individual, firm or company in respect of any such intercession, facilitation or recommendation.

3.6 The

contract

BIDDER, either while presenting the bid or during pre- contract negotiations or betbre signing the

,flE.:^9

BUYER or their family members agents, brokers or any other intermediaries in connection with thecontract details or/and the services agreed upon for such payments.

3'7 The bidder will not collude with other pafties interested in the contract to impair the transparency,faimess and progress of the bidding process, bid evaluation contracting and implementation of the contract.

3'8 The BIDDER will not accept any advantage in exchange for any conupt practice, unfair means andillegalactivities.

3.9 The BIDDER shall not use improperly, for purposes of competition or personal gain, or pass on toother, any information provided by the BUYER as part of the business deal, relationship regarding plans,technical proposals and business details, including information contained in any electronic data carrier. TheBIDDER also undertakes to exercise due and adequate care lest any such information is divulged.

3.10 The BIDDER commits to refrain from giving any complaint directly or through any other mannerwithout supporting it with fulland verifiable facts.

3'l I The BIDDER shall not instigate or cause to instigate any third person to commit any of the actionmentioned above.

3.12 The BIDDER will not, directly or through any other person or firm, offer, promise or give to any ofthe Principal's employees involved in the tender process or the execution of the contract or to any thirdperson any material or other benefit which he/she is not legally entitled to, in order to obtain in exchangeany kind offavour whatsoever during the tender process or during the execution ofthe contract.

4. Previous Transgression

4.1 The BIDDER declares that no previous transgression occurred in the last three year immediately beforesigning of this integrity pact, with any other company in any country in respect of any corrupt practicesenvisaged hereunder or with any public sector enterprise in India or any government Department in Indiathat justifo BIDDER'S exclusion from the tender process. page 8 of I I

4.2The BIDDER agrces that if it makes incorrect statement on this subject, BIDDER can be disqualifiedfrom the tender propose or the contract, ifalready awarded.

5. Sanctions for violations

5.1 Any breach of the aforesaid provisions by the BIDDER or any one Employed by it or acting on itsbehalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER ro take all or anyone of the following actions, wherever required: (i) To immediately call off the pre contract negotiationswithout assigning any reason or giving any compensation to the BIDDER. However. the proceeding withthe other BIDDER(s) would continue. (ii) The Earnest Money Deposit (in pre-contracr srage) and/orSecurity Deposit /Performance bond (after the contracr is signed shall stand lorfeited either fully orpartially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore.(iii) To immediately cancel the contract, if already signed, without giving any compensation to theBIDDER. (iv) To recover all sum already paid by the BUYER, and in case of an Indian BIDDER withinterestthereon at2o/ohigherthan the prevailing prime lending rate of State Bank of India, page 9 of ll _.r-i;-;\..while in case of a BIDDER from a country other than India with interest thereon at2%highJr than thglds '"'

qB)

LIBOR. If any outstanding payment is due to the BIDDER from the BUYER in outstanding puy*elff_dJ\:.'",. U\:..38'.

could also be utilized to recover the aforesaid sum and interest. (v) To encase the advance bank guaranteeand performuntt

?:ntl-"un'f Loni, ir rurnistreoi, i-n. t,rDER in ora., io-l..over the paymenrs,3,l3tlilffiJir3ifJfl?::,;f:{;ith interest i,lir"1';",.er a, or any orher conrracrs with the

[!i]'J,"il'l[':r,;:1';'i"rff [#iililrj;,li::,,1ff ;'rn[',:,'.ffi #:T:fprocesses of rhe Governmenr of rndia fora minimu, p.,ioJoii:iiffi;:i'lr##[ljf.fithe discretion orthe Buver (viii) ro r..ou". a, sum paid in;,",ir6;;;;;, ilLi, bidder (s) to any

{l!t.#il ffif.,l:n:ffil[j:ff .o securing the conrracr. (ix) rn.u,. *r,... irrevocabre re*ers orsha, not b. op,n.J lx) Forreitu;e

"rr..ilr.'""#iTn-[:":r j}::y"i-.*;J,[f;.?i?r,]frti;ff

same without assigning any reason ro. irforing sanction foiiriorution of this pact.5'2 The BU'ER wir.r be entitred to take a, or any of rhe actions rarso on the commission by ,r,. s,DtER;; #,] ::::,::,::T T:1tion1d at Para 6. l(i) to (x) or this pact

IJ:XT:;l:*:?,:1.:F:;*iLT,,*,Tflt:ffI,i:tl:1J,,:,;.jil:,11:ff:1il*f[*[i,::5.3 The decision of the BUyER to the effe

,'J, j[,?:?i,,*nldffi

fr,#il$ffi "flH{i?ii'rr;::::ii:';,3ilnffi ;ililT:6. Fall Clause

The BIDDER undertakes that it shall not supply identicar sorution(s)(For Department of- Information

iTlI[A#.iT#[Y,ilffij3;]*"r'",.,,,r l, .o.,'p,uur. u,,in.,, .i,.,,i,,,n.., at a priceround that *i,r,in on. ,31 {er *" .,*,,,n!..ii:;f:l;T:lJ.lUr::iil"ftiI lilffit],;:BIDDER to any other Public sttto' g# ii ,:gj. ut u r"*.r'p.ice, *ittr due arowan.J ro,. .rupred time,.Il,ffBHl??l::lll:i",...J:,H:;[*n*f;;f ffi.::l wou,d oe,erunaea,iy the BTDDER,o

7. Independent Monitors

J;l,I[flYIil,i::::illffi';i'J::l;l#;],"rs (here either rererred ro as Monitors) ror this pact in

13il:Jl'x;:li'#il::il::r*';,:..;il,';j;pendenr and objectiverv, wherher and ro whar exrenr

I;:.ol::#lH'Jffr,i::i:r'f#ct to instruction bv rhe represenrarives orthe parries and perrorm rheir

ffi.B.l[":::.ffi:llJ:::[ f,T*'f"ffi]:l# have the access ail the documenrs reraring to the

ff,flx,;;tffnffiH: ,rm;: has reason to believe, a vioration of this pacr, he wiil so inform the

@\'

,'{\I U

\U,,39

l;:ffi:133:l,lt' accepts that the Monit.r has the right to access without resrricrion to a, projecrmon tor, upon h s;:,3:1,:X."-,:iLl HliiliT,,J.*:rJr,L:,tjHin[:m;::::**

n:project documentation' The tu" i' ufiii.uur. to suoconira.,"r, r',. moniror sha, be under conrractuarobligation to treat the informat'"t "'Jil.rments of the BIDDER/subcontractorlsj *i,[."rrroentiarity.

7'7 The BIDDER will provide to the Monitor sufficient information about a, meetings among the partiesrelated to the project provided tuct''

"ttings could have an *0..i on the contractuar .lrurion, between theparties the parties wi, offer to tt',. monito, ir.,. option ," o""alJ." in such meetings.7'8 The monitor will, s.ubmit a written report to the designated Authority of BUyER / Secretary in rheDepartment/ within 8 to l0 weeks rror?. date of ,.rir.n.i or intimation to him by the BuyER /BIDDER and' should the occasion u'i,., ,uurit proposars ro..orr".t;ng probrematic situations.8. Facilitation of Investisation

In case of any allegation of.vjolation of any provision of this pact or payment olcommission, the BuyERor its agencies shall be entitled to examine all the oo.rr.*r-incruding the Books of Accounrs of the.1i?",,:[:liii'#l?ffil'11;*1.** i,;;il; uno oo.,,i.nts iningrilh and sha,, extend

9. Law and nlace of iurisdiction

This Pact is subject to Indian Law' The place of performance and jurisdiction is the seat of the BUyER.10. Other Lesal Actions

The actions stipulated in this Integrity pact.are without prejudice to any other regar action that may forowin accordance with provisions or,n".*i.r, law in r"*. r.r.Jr;; un, civir or criminar proceedings.ll. Vatiditv

II'l rhe validity of this Integity Pact shall be from date of this sigrring and extend up to 5 years or thecomplete execution of the t'nt*., to tr,.-satisfaction oi uottr itre BUyER and the grooavspllER,including warranty period' whichever i' Lt.r, In case BIDDER is unsuccessfur, this Integrity pact shailexpire after six months from the date orthe signing ortn. .ontr*t. page l l of r r

Il'2 Should one or several provisions of this Pact turn out to be invarid, the reminder of this pact sha,remain valid' In this case' the parties will strive to come to an agreement to their original intentions.12' The BIDDER undefiakes that he shall not approach the court whire representing the mafter to ExternarlX];otnot"

Monitors (rEMs) and he *iri'u*ui, their decision in th" matrer witrrin a time ceiring of 90

40

13. The parties hereby sign this Integrity pact at

BUYER

Name of the Officer

Designation

Punjab and Sind Bank

Witness

on

BIDDER

Authorized Signatory

Witness

l.

2.

l.

2.

ANNEXL]RE _ I7NON DISCLOSURE AGREEMENT

(To be executed on a Non-Judiciar Stamp paper of requisite varue)This Non-Discrosure Agreement is entered into as of <Date in words> (DD-Month-yyyy), the ,,Effective Dote") by and between Punjab-& Sind Bank, .urfin, on the business of Banking, having its[i::'" "ffice

at 2l' Rajendra place, New Derhi - rrooos (herein referred ro as ,,Bank,,) and

;;;ffi'i'ompanyincorporatedundertheCompaniesAct'l956havingitsregistered

'f ."';i-,,6;il:ff ll'il'ffiTilf ::ffi ::,,;*;,:;:^;*lmmean and includes its respective successors and assigns. wHgnees, yendor name is inrer ari(.tengagedfor Supply' Installation' commissioning and Maintenance of ATMs /cDs (including UpS and ChemicalEarthing) and will be entirely te'ponsiII" for the scope and services provided as agreed as per scope ofwork covered under Request for proposal RFp Rei. No.

dated ' WHEREAS, Bank is inter alio engagedin the business of Banking; andWHEREAS' the Parties presently desire to discuss and/or consurt with each other,s business for thepurposes of entering into Agreement for implenrentation of supply, Installation, commissioning andMaintenance of ATMs / cDs (including UPS and chemical Earthing). WHEREAS, the parties recognizethat each other' s business involves lpecializecl and proprietary knowredge, information, methods,processes' techniques and skills peculiar to their security and growth and that any discrosure of muchmethods' processes' skills, financial data, or other confidential and proprietary inrormation wourdsubstantially injure a Party's business, impair aParry' s investments and goodwill. and jeopardize a party,s relationship with a party, s clients and customers; and WHEREAS, in the course ol consultation withrespect to the potential business venture, the Parties anticipate discrosing to each other certain infbrmationof a novel' proprietary, or confidential nature, and desire that such information be subject to all of theterms and conditions set forth herein below; Now, THEREFORE, the pafties hereto, in consideration olffiJJ::'tts

and other good and valuable consideration, agree such information shall be treared as

l' confidential Information' "confidential Information" shail mean and include any informationwhich relates to the financial and/or business operations of each party, including but not limited to,specifications, drawings, sketches, models, samples, reports, forecasts, .urr.n, or historical data,computer pro$ams or documentation and all other technicai, financial or business data, including, but notlimited to' information related to each Party's customers, products, processes, financial condition,employees, intellectual property, manufacturing techniques, experimental work, trade secrets.

2' Use of Confidential Information. Each Party agrees not to use the other,s Confidential Inlormation fbrany purpose other than for the specific consultation regarding the RFp potential business venture. Anyother use of such confidential [nformation by any party shall be made only upon the prior written consentfrom an authorized representative of the other Party which wishes to disclose such information (the"Disclosing Party") or pursuant to subsequent agreement between the parties hereto.

re42

3' Restrictions' -subject

to the provisions^of paragraph 4,berow, the party receiving confidentiarll,:,ffi:::,$ilffii"::f,i:Xl"shar, ro,.,on,*-.i,.,,_ orrwo rzr y.u,", r,"om the date orthe rastwhich sharr remain conndentiar ;;;;il.j,:T:Lff j::T[.L:?:,.#

:; **itr]*?,lfficonfidential Information as it uses with similar.onno.ntiui information of its own and shalr nor discrose.lecture upon' publisl' toor' moaify, aiurtge^eitrr", oir.li,, or indirectry, use(excepr as permitted above

'ffi::ffi::1,:'r""'l'Jil::[Ttr,Hi-t .,,i.;;;i;il,,"n toanv orherperson orenriry. incruding

a' restrict disclosure of confidential Information sorery to its ,concerned

emproyees, agents, advisors,consultants' contractors and /or subcontractors with a neea to know and not disclinformation to any other parties; and irsvlvrJ wtltt d rrceo to know and not disclose such proprietary

b' advise all receivingParty employees with access to the confidentiar Information of the obrigation tofl::::l"?:Jif:I'gi:T,T|Ilffifd hereunder u,J,ooi, rrom agenrs, ua,i,o,,, conrractors and/or

i;X,liliiSinfidential Inrormation provided hereunder ontv for purposes directry rerated to the potenriar

4' Exclusions' The o.bligations imposed upon either party herein shal not appry to information, technicardata or know how, whether o, ,ot a.rignur.O u, confidential, that:

::il:.1l,1111i,ono*n to the Receiving Partv at the time of, the discrosure without an obrigation of

(b) is or becomes publicly known through no unauthor ized actof the Receiving party;

(c) is rightfully received from a third Party without restriction and without breach of this Agreement;

,ftll,ffiTil:::tr: ff#ffilJl the Receiving Partv without use or the other party, s conndentiar

fffllfli:Tsed without similar restrictions to a third partv by the parry owning the confidentiar

(f) is approved for rerease by written authorization of the Discrosing party; or(g) is required to be disclosed pursuant to any applicable laws or regulations or any order of a court or aSovernmental bodv: provided' however, tr,r1

1-,e n...irirg"prrty shail first have given notice to theDisclosing earty ano made a

""o'Jt.".ffon ,o obtain u prZ,..iir. order requiring that the confidentiarInformation andlor documents so disclosed by used onry io, trr. furpor., r.or whichihe order was issued.5' Return of confidential Information' All conficlential Information and copies and extracts of it sha,be promptly returned to the oi*i"rirg'i'arty atany time within thirty (30) days of receipt of a writtenrequest by the Discrosing party for rr.,.7.i* of such confidentiar rnformation.

A"1, ,.'.#' .

'

\:" u ".,.,

43

6' ownership of Information. The Parties agree that all Confidential Inlormation shall remain theexclusive property of the Disclosing Party and its affiliates, successors and assigns.

z' No License Granted' Nothing contained in this Agreement shall be construed as granting or conferringany rights by license or otherwise in any confidential Information disclosed to the Receiving party or toany information, discovery or improvement made, conceived, or acquired before or after the date of thisAgreement' No disclosure of any confidential Information hereunder shall be construed to be a publicdisclosure of such confidential Information by either party for any purpose whatsoever.

8' Breach' In the event the Receiving Party discloses, disseminates or releases any confidentialInformation received from the Disclosing Party, except as provided above, such disclosure, disseminationor release will be deemed a material breach of this Agreement and the Disclosing party shall have theright to demand prompt return of all confidential Information previously provided to the Receiving party.The provisions of this paragraph are in addition to any other legal right or remedies the Disclosing partymay have.

9. Arbitration and Equitable Relief

(a) Arbitration - The Parties shall attempt to settle any disputes arising out of or relating ro thisAgreement through consultation and negotiation. In the event no settlement can be reached through suchnegotiation and consultation, the Parties agree that such disputes shall be refbrred to and finally resolvedby arbitration under the provisions of the Arbitration and conciliation Act, 1996 or any statutorymodification thereof shall apply. The arbitration shall be held in New Delhi. The language used in thearbitral proceedings shall be English. The Parties shall appoint their own arbitrators.

(b) Equitable Remedies - The Parties agree that it would be impossible or inadequate to measure andcalculate the Disclosing Party's damages from any breach of the covenants set forth herein. Accordingly,the Parlies agree that in event of breach of any of the covenants contained in this Agreement, the affectedParty will have available, in addition to any other right or remedy available, the righi:

i) to obtain an injunction from a court of competent jurisdiction restraining such breach or threatenedbreach; and

ii) to'specific performance of any such provisions of this Agreement. The parties further agree that nobond or other security shall be required in obtaining such equitable relief and the pafties hereby consentto the issuance of such injunction and to the ordering of specific pertbrmance.

(c) Legal Expenses - If any action and proceeding is brought for the enforcement of this Agreement, orbecause of an alleged or actual dispute, breach, default, or misrepresentation in connection with any of theprovisions of this Agreement, the deflaultingParty will bear all the expenses, including the attorney,s feesand other costs incurred in such action.

6dH 44

lnvitation Proposal Document for Corporate Aeencv Aereement Life lnsurance (PSB/RFP/CA-t.lFE /01/2019-20)

10. Termination - This Agreement may be terminated by either Party giving thirty (30) days' prior

written notice to the other Party; provided, however, the obligations to protect the Confidential

lnformation in accordance with this Agreement shall survive lor a period of two (2) years from the date olthe last disclosure of Confidential Information made under this Agreement (except lor personal customer

data which shall remain confidential forever).

11. No Formal Business Obligations - This Agreement shall not constitute create, give effect to or

otherwise imply a joint venture, poolingarrangement, partnership, or formal business organization of any

kind, nor shall it constitute, create, give effect to, or otherwise imply an obligation or commitment on the

part of either Party to submit a proposal or to perform a contract with the other Pafty or to refrain from

entering into an agreement or negotiation with any other Party. Nothing herein shall be construed as

providing for the sharing of profits or loss arising out of the efforts of either or both Parties. Neither Party

will be liable forany of the costs associated with the other's efforts in connection with this Agreement. lfthe Parties hereto decide to enter into any licensing arrangement regarding any Confidential Information

or present or future patent claims disclosed hereunder.

12. General Provisions

(a) Governing Law - This Agreement shall be governed by and construed in accordance with the laws ofIndia.

(b) Severability - If one or more of the provisions in this Agreement is deemed void by law, then the

remaining provisions will continue in full force and effect.

(c) Successors and Assigns - This Agreement will be binding upon the successors and/or assigns of the

Parties, provided however that neither Party shall assign its rights or duties under this Agreement without

the prior written consent of the other Party.

(d) Headings. All headings used herein are intended for reference purposes only and shall not affect the

interpretation or validity of this Agreement.

(e) Entire Agreement - This Agreement constitutes the entire agreement and understanding of the Parties

with respect to the subject matter of this r\greement. Any amendments or rnodifications of this

Agreement shall be in writing and executed by a duly authorized representative of the Parties.

(f) Two original sets of Non Disclosure Agreement are executed and retained by either parties, Bank and

Vendor.

The Parlies, by the signature of their authorized representatives appearing below, acknowledge that they

have read and understand each and every term of this Agreement and agree to be bound by its terms and

conditions.

r9 4s

hfi{fl(

ACCEPTED AND AGREED TO BY:

(Signature)

Print Name:

Title:

(Signature)

Name:

Title:

IN WITNESS WITH:

Bank:

(Signature)

Print Name

Title:

Vendor:

(Signature)

Name:

Title:

lnvitation Prooosal Document for corporate Aeencv Asreement Life lnsurance (psll/Rlrp/cA-Llfr[ /0 l/201g-20)