(for employees of the Central Bank of Montenegro)



Bids may be submitted by legal entities registered for the conduct of activities referred to in the invitation.


¨      The subject of the bidding is insurance of employees of the Central Bank of Montenegro during and beyond the performance of their work assignments in case of:

-          natural death,

-          death as a consequence of an incident,

-          lifelong loss of general working capacity (permanent disability),

-          temporary working capacity (daily allowances),

-          damaged health that requires doctor’s aid (treatment costs).


¨       A bid should include:

-          bidder’s exact name and address,

-          insured basis and amount insured,

-          insurance terms (monthly premium per employee)

-          conditions of premium payment,

-          evidence of registration showing that the bidder meets the conditions prescribed in Article 3 of the Regulation on Personal and Property Insurance (Official Gazette of Montenegro No. 42/2002),

-          balance sheet and income statement for the last 5 years,

-          annual operating report,

-          actuary’s opinion on the company’s annual account,

-          annual report on the audit of accounting statements,

-          other evidence prescribed by Article 4 of the Law on Public Procurement,

-          references.


The insurance contract will be signed for a period of one year.


The selection of the most eligible bidder will be made using the selection method based on quality and costs.


¨      The evaluation criteria will be:

-          company’s financial standing,

-          references,

-          premium amount to insured amount ratio,

-          insurance conditions.


Bids may be submitted until March 27, 2003 at 12:00 (noon), by mail or in person, in sealed envelopes, with the indication – Invitation No. 006 “Do Not Open Before Formal Meeting of Bid Evaluation Commission”, to the following address:


Central Bank of Montenegro, Nemanjina Obala 7, Podgorica


The bid opening will be public and will take place on March 28, 2003 at 12:00 (noon), in the offices of the Central Bank of Montenegro.


Public bid opening may be attended by bidders’ authorized representatives.


Contract will be awarded to the most successful bidder.


Untimely and incomplete bids will not be considered.



Contact person:

Mira Djurovic (tel. 081/403-268)