The Central Bank of Cyprus has invited economic operators to seek participation in a tender for insurance coverage. Contracts will be awarded through a competitive procedure with negotiation based on the best price to quality ratio, with technical quality weighted at 70% and comparative cost at 30% for each insurance lot. The process has two stages. The central bank will first assess participation applications against the eligibility and selection criteria, then invite qualifying candidates to submit initial bids that will form the basis for negotiations. Invited candidates may bid for one, several or all insurance lots. Contracts will cover three annual insurance periods, with the central bank retaining the option to negotiate a further three annual periods with each contractor.
Central Bank of Cyprus launches tender for insurance coverage under a negotiated procedure
The Central Bank of Cyprus has launched a negotiated tender for insurance coverage, weighting technical quality at 70% and cost at 30%. Contracts will run for three annual periods, with a potential negotiated extension for three more, and qualifying applicants may bid for one or more insurance lots.