The Royal Insurance Corporation of Bhutan Limited invites sealed bids from interested bidders for the sale of following particulars on “As is where is Basis”.
LotNo.
Vehicle Type/ Scraps
Vehicle No.
Model
Condition
Registration Certificate
Location
Lot.01 (TH)
Scrap (Metals & Rubber Items)
N/A
Thimphu
Lot.02 (TH)
Skyline Bus
BP-5-A0003
2016
Scrap
Cancelled
Thimphu
Lot.03 (TH)
Citroen EC3
BT-1-A8586
2024
Scrap
Cancelled
Thimphu
Lot.04 (TH)
Tata Tipper SK 1613
BP-1-A4638
2019
Accident
RC valid until 13/11/2025
Thimphu
Cost of Tender Document: Nu. 300.00/- (Ngultrum Three Hundred only).
The successful bidder shall lift the item within 7 working days from the date of opening the tender.
Last Date of submission of tender documents is on 29th of September, 2025, before 5:00 PM.
Opening date of tender begin from 10:30 AM on 30th of September, 2025 in the RICBL Conference Hall, Thimphu.
Non-Bhutanese intending to participate in the tender should arrange their entry permit on their own.
The bidding documents can be purchased from the RICBL cash counter, Main branch, Thimphu, against the payment of Nu. 300.00/- (Ngultrum Three Hundred only), which is non-refundable. The bidders are requested to inspect the items during office hours (09 AM to 05 PM). Any complaint after auction shall not be entertained. Interested bidders are requested to contact Kencho Dorji (TMB) @17975240 and Kinzang Wangchuk (TMB) @17843581 for further information.
Management
INSTRUCTION TO THE BIDDERS
The Tender shall be submitted in accordance with these instructions and any tender not conforming to the instructions as under is liable to be rejected. These instructions shall form part of the tender and contract.
The tender should be submitted in sealed cover super scribed as “BID FOR VEHICLE & VEHICLE SALVAGES/ SCRAPS”.
The Tender shall be accompanied along with Earnest Money Deposit of Nu. 20,000/- in the form of Cash/Online Payment in favor of “Royal Insurance Corporation of Bhutan Ltd”. The offers without Earnest Money Deposit will be rejected.
Procedure for quoting price: The offer price shall be quoted for each category of the items as per the format attached as annexure A.
The tender shall be awarded based on the highest offer received for individual item. In other words, the successful bidder would be decided for each item based on the highest offer received for particular item. Accordingly, the delivery of each item would be issued separately to selected bidder for that particular item.
Procedure for disposal of Items:
The highest bidder, whose bids are accepted shall deposit a payment of 25% of the bid amount on the day of the auction and the balance of 75% within 7 working days from the day of tender, failing which accepted bid will be cancelled and the earlier deposits forfeited.
On completion of the auction, the earnest money of the highest bidder will be adjusted against the auction value of items won by them. The earnest money of unsuccessful bidder will be refunded immediately after completion of the auction.
The highest bidder whose bid is accepted by the tender committee will have to take delivery of the items at their own cost within 7 working days from the date of the auction against full payment of bid value. Failure to do so will result in the forfeiture of the amount deposit and the item shall be disposed in the next auction. RICBL shall not be responsible for not being able to lift the item within seven days, from the date of the auction.
The change of ownership for repairable vehicles should be done within 15 days from the issue of letter for change of ownership certificate to RSTA from RICBL. Taxes applicable for change in ownership shall be borne by the bidder.
The vehicle salvages shall be released only after obtaining clearance from the RSTA. It shall be the responsibility of the successful bidder to complete all/any formalities against release of the vehicle scraps as per the norms of the appropriate authority and taxes applicable shall be borne by the bidder.
It will be assumed that interested parties bidding for items have inspected the lots prior to the auction and that the bid offered is at their own liberty and judgment. No complaint will be entertained at a later date.
The tender committee reserves the right to reject all or any tender wholly or partly without assigning any reason whatsoever and decision of the committee will be final and binding.
We confirm with our acceptance to the instructions given above.
TENDERER’S NAME & SIGNATURE
FORM OF TENDER.
To,
The Tender Committee
Royal Insurance Corporation of Bhutan Limited
Main Branch, Thimphu.
Subject: Offer for Vehicle & Vehicle Salvages/ Scraps on “As is Where is Basis”.
Dear Sir,
HAVING EXAMINED AND PERUSED THE FOLLOWING DOCUMENTS
1. Notice Inviting Tender
2. Instruction to the Bidders
3. Form of Tender
I/We, hereby, submit our quoted rates in the enclosed format of “Offer format” as Annexure-A.
I/We agree with our acceptance for:
A sum of Nu. 20,000/- (Nu. Twenty Thousand only) is enclosed herewith in the form of Cash/ Online Payment towards Earnest Money Deposit.
Earnest money will be refunded to us without any interest.
I/We agree that the price quoted in ‘Offer format” as enclosed as annexure- A is excluding of taxes, duties and other government levies as applicable on the sale of vehicle & vehicle scrap.
In the event of my success in tender, I/We will deposit a payment of 25% of the bid amount on the day of the auction and the balance within 7 working days from the day of tender, as detailed in “INSTRUCTION TO THE BIDDERS, by way of Cash/ Online Payment.
I/We shall have to make all arrangements for lifting of the vehicle & vehicle scraps at our own cost.
I/We agree to lift the whole lot of vehicle or scraps and not a part thereof failing which RICBL will be at a liberty to forfeit 25% deposited.
I/We agree that in the event of failure to deposit the balance amount as detailed in Para 5 of INSTRUCTION TO THE BIDDERS within stipulated time of seven days period from the day of tender, RICBL shall be at liberty to forfeit the 25% deposited.
We agree that tender committee of RICBL reserves the right to reject the tender wholly or partially without assigning any reasons.
I/We have thoroughly read the “Form of Tender (6 pages) and confirm with our acceptance to all terms & conditions without any deviation.
TENDERER’S NAME & SIGNATURE
Enclosed duly filled Annexure-A
ANNEXURE-A
OFFER FORMAT
I/We offer our price for the Vehicle/ Vehicle scrap on “As is Where is Basis” “as detailed under.
Lot No.
Vehicle Type/ Scraps
Vehicle No.
Model
Condition
Registration
Location
Offer price (in Figures)
Offer price (in Words)
Lot.01 (TH)
Scrap (Metals & Rubber Items)
N/A
Thimphu
Lot.02 (TH)
Skyline Bus
BP-5-A0003
2016
Scrap
Cancelled
Thimphu
Lot.03 (TH)
Citroen EC3
BT-1-A8586
2024
Scrap
Cancelled
Thimphu
Lot.04 (TH)
Tata Tipper SK 1613
BP-1-A4638
2019
Accident
RC valid until 13/11/2025
Thimphu
I/ We agree to pay taxes and government levies axtree to above quoted price.
I/We confirm that I/We have clearly understood the details/terms as specified in:
Notice inviting tender attached herewith,
Instructions to the bidders attached herewith,
Form of tender attached herewith.
I/We have thoroughly read the “Form of Tender and confirm with our acceptance to all terms and conditions without any deviation.