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 buildings, office furniture and equipment against fire and other hazards, including additional risks:

-          insurance of machines against breakage,

-          insurance of glass against breakage,

-          insurance against burglary and theft,

-          insurance against water outflow and flood.


¨       A bid should include:

-          bidder’s exact name and address,

-          insurance terms,

-          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 3 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 ratio,

-          insurance conditions.


Bidders’ authorized representatives may obtain the list showing the property value and equipment structure in the Room No. 6 of the Central Bank of Montenegro, every working day from 11:00 to 14:00 during the period of this invitation.


Bids may be submitted until May 23, 2003 at 15:00 (noon), by registered mail or in person, in sealed envelopes, with the indication – Invitation No. 010 “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 May 26, 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 phone:  081/403-268)