Latvia14 days leftOpen

Directors and Officers Liability Insurance

Tender Overview

ORGANIZATION

Latvijas Banka

LOCATION

Latvia, Latvia

VALUE

Not disclosed

DEADLINE

February 16, 2026 at 10:00

CATEGORY

Other

CPV CODE

66516000

REFERENCE

163882

Project Timeline

Contact Information

View Original

Original Tender Description

Directors and Officers Liability Insurance
⚠️

MANDATORY EXCLUSION GROUNDS

  • The provided summaries do not detail specific mandatory exclusion grounds. Bidders should refer to the full Tender Regulation (Nolikums) for this information.

ELIGIBILITY REQUIREMENTS

  • The provided summaries do not detail specific eligibility requirements. Bidders should refer to the full Tender Regulation (Nolikums) for this information.
🔧

TECHNICAL CAPABILITY REQUIREMENTS

  • Provide insurance brokerage services for Directors and Officers Liability Insurance.
  • Ensure services comply with the requirements specified in the technical specification (Appendix 1 to the Regulation).
  • Ensure services comply with the provisions included in the draft contract (Appendix 3 to the Regulation).
💰

FINANCIAL REQUIREMENTS

  • The provided summaries do not detail specific financial requirements. Bidders should refer to the full Tender Regulation (Nolikums) for this information.
📋

SUBMISSION REQUIREMENTS

  • Submit the bid by the deadline: 2026-02-16T10:00:00.
  • Adhere to the procurement process and submission requirements detailed in the Tender Regulation (Nolikums).

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PDF
Iepirkuma priekšmeta prasības, 1.versija
technical_spec163882_PD.ANY_1_1_1_20260121052201.pdf98.7 KB
Summary:
This document contains the procurement requirements and evaluation criteria for a tender issued by Latvijas Banka for Directors and Officers Liability Insurance.
DOC
Nolikums/Tender Regulation
tender_noticeNOLIKUMS_Par vadošo darbinieku atbildība...89.4 KB
Summary:
This document contains the Tender Regulation issued by Latvijas Banka for an open tender seeking insurance brokerage services for Directors and Officers Liability Insurance, detailing the procurement process, submission requirements, and selection criteria.
HTM
Main tender page
tender_noticeindex.html
Summary:
This document contains basic information about an announced open competition tender (LB 2025/55) by Latvijas Banka for Directors and Officers Liability Insurance services, including its identification number, name, contracting authority, object type, description, and key deadlines.

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56
Fair

Tender Quality Score

This tender for D&O Liability Insurance demonstrates good procedural structure and clear service description, but is significantly hampered by a lack of transparency regarding estimated value, contract duration, and crucially, the absence of specified evaluation criteria. Several data inconsistencies and restricted document access further reduce its overall quality and fairness.

Score Breakdown

Legal Compliance75/100

The tender defines an open procedure, assigns a relevant CPV code, and sets a reasonable submission deadline. Its inclusion in WTO/GPA suggests adherence to international standards. However, the 'Restricted document access' flag, even if interpreted as an AI parsing issue, raises concerns about full transparency, and the estimated value is not disclosed.

Restricted document access
Estimated value not disclosed
Clarity60/100

The tender's title and description are clear. However, the AI-extracted requirements explicitly state that mandatory exclusion, eligibility, and financial details are not provided in the summaries, requiring bidders to consult the full Nolikums. Critically, the system flags 'No evaluation criteria specified,' which is a significant clarity issue for bidders.

No evaluation criteria specified
AI-extracted requirements lack detail for critical sections
Completeness55/100

Basic tender information is present. However, the estimated value and contract duration are missing. Furthermore, key requirements such as mandatory exclusion grounds, eligibility, financial requirements, and evaluation criteria are not detailed in the provided summaries and are flagged as unspecified or missing.

Estimated value not disclosed
Missing contract duration
Fairness45/100

The tender benefits from a reasonable submission deadline and the use of an e-procurement system. Nevertheless, the undisclosed estimated value and the critical absence of specified evaluation criteria significantly undermine the transparency and objectivity of the process, impacting fairness for all potential bidders. The 'Restricted document access' also raises transparency concerns.

No evaluation criteria specified
Estimated value not disclosed
Practicality50/100

The tender supports e-procurement, which is a positive for practicality. However, the absence of a disclosed estimated value, contract start date, and contract duration creates significant practical challenges for bidders in preparing comprehensive and competitive proposals. The contradiction regarding e-submission is also a minor practical concern.

Estimated value not disclosed
Missing contract duration
Data Consistency65/100

Key dates are logical and consistent, and there are no reported disputes. However, there are notable inconsistencies, such as the contradiction between 'E-Procurement' and 'No e-submission,' and between 'Documents available' and 'Restricted document access.' The explicit flag of 'No evaluation criteria specified' also contradicts the summary of Document 3. Missing estimated value and contract duration further contribute to data incompleteness.

Contradiction on e-submission
Contradiction on document access
Sustainability20/100

The tender does not incorporate any specific criteria or focus on green procurement, social aspects, or innovation, indicating a missed opportunity to promote sustainable practices.

Not green procurement
No social criteria

Strengths

Clear service description
Open procedure with WTO/GPA characteristics
Reasonable submission deadline
E-Procurement enabled
CPV code provided

Concerns

No evaluation criteria specified
Estimated value not disclosed
Missing contract duration
Restricted document access (as flagged)
Incomplete AI-extracted requirements for critical sections

Recommendations

1. Ensure all tender documents, especially the Nolikums, are fully accessible and parsable to all bidders.
2. Clearly specify all evaluation criteria to ensure transparency and fairness.
3. Disclose the estimated contract value and duration to aid bidder preparation and market assessment.

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C
Tender Quality Score
56/ 100 · Fair

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