| Description |
Star Union Dai-ichi Life Insurance Company Limited
Request for Proposal (RFP)
For
Ind AS / IFRS Knowledge Partner
This document is the property of Star Union Dai-ichi Life Insurance Company Limited and is meant for the
exclusive purpose of bidding as per the terms, conditions, specification, and scope mentioned/indicated in it.
This document should not be copied, transferred, reproduced, distributed, or recorded on any medium,
including all forms of electronic medium, without written permission of Star Union Dai-ichi Life Insurance
Company Limited. The use of contents of this document for any purpose other than stated herein strictly
prohibited and shall amount to copyright violation and thus, shall be punishable under the Indian Law.
DISCLAIMERS
The information contained in this Request for Proposal (RFP) document or information provided subsequently to
applicants whether verbally or in documentary form by or on behalf of SUD Life (defined below) is provided to the
applicants on the terms and conditions set out in this RFP document and all other terms and conditions subject to which
such information is provided. This RFP is neither an agreement nor an offer or invitation to enter into a contract or any
arrangement. No contractual obligation whatsoever shall arise from the RFP process unless and until a formal contract is
signed and executed by duly authorized officers of with the applicants. The purpose of this RFP is to provide the applicants
with information to assist in the formulation of their proposals. This RFP does not claim to contain all the information each
applicant may require. Each applicant should conduct its own investigations and analysis and should check the accuracy,
reliability, and completeness of the information in this RFP and where necessary obtain independent advice. SUD Life
Issue Date: -21/07/2023
Last Date of Submission of Proposal: -04/08/2023
Tender Sr. No.: - SUDLIFE/CPD/TD/23-24/004
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makes no representation or warranty & shall incur no liability under any law, statute, rules, or regulations as to the
accuracy, adequacy, correctness, reliability, or completeness of this RFP or completeness of information of this RFP. SUD
Life may in its absolute discretion, but without being under any obligation to do so, update, amend or supplement the
information in this RFP. SUD Life reserves the right to accept or reject any RFP without assigning any reasons whatsoever.
1. INTRODUCTION
1.1 About
Star Union Dai-ichi Life Insurance Company Ltd. (“SUDLife”/” Company”) is a joint venture between Bank of
India & Union Bank of India, India’s leading public sector banks and Dai-ichi Life International Holdings LLC,
Japan one of the top ten world leaders in insurance which has been incorporated with the primary
objective of carrying out life insurance business in India.
Star Union Dai-ichi Life Insurance Co. Ltd. (SUDLife), with the strength of the domestic partners in the
Indian Financial Sector coupled with the Dai-ichi Life’s strong domain expertise is a strong player in the
Indian Life Insurance market.
1.2 Purpose
The purpose of this RFP is to inform potential service providers of a business opportunity and to solicit
proposals for Ind AS / IFRS Knowledge Partner as currently contemplated by SUD Life. Based upon the
review and evaluation of proposals offered in response to this RFP, SUD Life may at its sole discretion
negotiate and enter into contracts with one or more successful Service providers. Notwithstanding any
other provision herein, service provider’s participation in this process is voluntary and at service provider's
sole discretion. Price will be a consideration but will not be the sole factor in SUD Life’s decision to award a
contractual relationship. The products, volumes and historical numbers that are provided by SUD Life
during this process are to be used and interpreted solely as a guide and are intended to provide guidance
to SUD Lifes future or projected requirements but are not a guarantee, contract or commitment to any
current or future volume or orders. No volume commitment should be inferred from this process or from
any of the documentation provided by SUDLife. SUDLife reserves the right to accept or reject any or all bids
from a specific or multiple service provider for any reason whatsoever at any time. SUD Life also reserves
the right at its sole discretion to select or reject any or all service provider(s) in this process and will not be
responsible for any direct or indirect costs incurred by the service providers in this process.
2. Bid Submission
The Bid (attached formats) duly signed and super scribed “Bid for Ind AS / IFRS Knowledge Partner”
should be addressed to –
Executive Vice President (Finance Controller)
Star Union Dai-ichi Life Insurance Company Limited
Central Procurement,
11th Floor, Vishwaroop IT Park,
Sector 30A,
Opp. Vashi Railway Station, Vashi,
Navi Mumbai – 400 703.
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Please note that the Technical and Commercial bid have to be submitted offline only at the address
mentioned earlier. The Company is not responsible for non-receipt of bids by the specified date and time
due to any reason including holidays.
However, questions / clarifications, if any, regarding this tender can be communicated via email at
procurement@sudlife.in .
The Last date for receipt of any query is 28/07/2023. Bids received after the stipulated date/ time or
incomplete in any respect are liable to be rejected.
3. Acknowledgement
Please acknowledge receipt of this document by responding via email to procurement@sudlife.in. Please
include the contact information for the person who will be directly responsible for completing the RFP.
4. RFP Schedule
We are listing below the various deadlines to be met to ensure part |