Request for Quotation (MIB-PR-RFQ/2019/13-R1) - Motor-vehicle Inspection and Valuation


RFQ NO.: MIB-PR-RFQ/2019/13-R1

RELEASE DATE: 18 March 2019

RFQ NAME: Motor-vehicle Inspection and Valuation

DUE DATE: 20 March 2019 (4:00 PM)


Maldives Islamic Bank invites reliable and experienced service providers to submit quotations for the inspection and valuation of motor-vehicles financed by the Bank.

Interested parties are requested to submit quotations as per the scope of work described below.

- The Bank wishes to enter into a service contract with the selected party and/or parties for the provision of inspection and valuation services for moto-vehicles financed by the Bank.

- The services are required in Malé City and Addu City.

- Service providers are required to inspect and valuate motor-vehicles and submit a detailed report to the Bank including, but not limited to, the following information.

- Screenshots of diagnostic report of the vehicle.

- Identification confirmation of the vehicle (chassis number, engine number, etc.).

- Mechanical inspection opinion.

- Photos of the vehicle inspected.

- Overall condition of the vehicle.

- Fair market value and force sale value.

- Inspections and valuations must be completed by qualified and experienced technicians/engineers with the use of industry-standard tools for the required activities.



Quotations submitted in response to this RFQ should contain the following information.

- A company profile (including a copy of the business registration, background of the business, details of office/garage/workshop and types of services provided).

- Information on personnel (including qualifications and experience).

- Price per-inspection/valuation of a vehicle quoted in Maldivian Rufiyaa (MVR), inclusive of GST.

- Delivery timeline (number of days it would take to complete inspection/valuation and to present the report).

- Methodology of how the inspection/valuation will be completed.

- Equipment and software used for the inspection/valuation.

- Areas or factors that will be considered in the inspection/valuation.

Quotations submitted in response to this RFQ may be submitted via email to Quotations must be submitted on or before 4:00 PM on Wednesday, 20th March 2019.



All quotations will be evaluated based on the following criteria.

- Price (60%)


Price will be evaluated based on the lowest price proposed, i.e., the quotation with the lowest per-inspection/valuation price will score the highest and maximum score of 60% while the remaining will be given scores relative to the lowest price.


- Experience (40%)


Experience will be evaluated based on the following factors.

- background of the business.

- qualified and experienced personnel.

- methodology for inspection/valuation.

The documents/information stated as required for submission in this RFQ must be submitted to fairly evaluate the quotations. Failure to do submit them may result in lower scores or disqualification.



1.      All quotations must be submitted before the submission deadline specified in this RFQ. Quotations submitted after the deadline will not be accepted.

2.      Quotations submitted in response to this RFQ should be valid for a minimum period of 60 (sixty) days from the date of submission.

3.      The Bank may add or remove items before placing the order.

4.      The Bank may select one or more service providers as valuators of motor-vehicles.