Life Insurance Corporation Of India

` Request for Proposal Setting up of systems for Enterprise Risk Management (ERM) processes across LIC Ref: LIC/CO/INVR/ERM-SV/RFP/2019-20 dated 13th Aug 2019 Life Insurance Corporation of India, Central Office, Investment Risk Management and Research Department, 6th Floor, East Wing, Yogakshema, Jeevan Bima Marg, Mumbai – 400 021. Email: co.erm@licindia.com This document is the property of Life Insurance Corporation of India (LIC). It may not be copied, distributed or recorded on any medium, electronic or otherwise, without LIC’s written permission. Use of contents given in this document, even by the authorized personnel/agencies for any other purpose other than the purpose specified herein, is strictly prohibited as it shall amount to copyright violation and thus shall be punishable under the Indian law. Confidential Ref: LIC/CO/INVR/ERM-SV/RFP/2019-20 dated 13th Aug 2019 Page 2 of 74 Table of Contents RFP TERMINOLOGY ................................................................................................................... 5 1.1 Definition ......................................................................................................................................... 5 1.2 Abbreviations ................................................................................................................................... 7 REQUEST FOR PROPOSAL ........................................................................................................ 8 2.1 Invitation to Bid ............................................................................................................................... 8 2.2 Activity and Time Schedule.............................................................................................................. 9 PROJECT BACKGROUND......................................................................................................... 10 OBJECTIVE ................................................................................................................................. 10 INSTRUCTIONS TO BIDDERS .................................................................................................. 10 5.1 Pre- Contract Integrity Pact ............................................................................................................ 10 5.2 Partners .......................................................................................................................................... 12 5.3 Pre-bid meeting and queries ........................................................................................................... 12 5.4 Responses to Pre-bid queries & Issue of Corrigendum ................................................................... 13 5.5 Terms and Conditions..................................................................................................................... 14 5.6 Cost of Bidding .............................................................................................................................. 14 5.7 Relationship between LIC and Bidders ........................................................................................... 14 5.8 Information provided in the RFP .................................................................................................... 14 5.9 Bid-Processing fees ........................................................................................................................ 14 5.10 Earnest Money Deposit (EMD) .................................................................................................... 15 5.11 Submission of Bids ...................................................................................................................... 16 5.12 Clarification on Bids/Proposals ........................................