Service provider needed: 5-Year guarantee fund management for south africa’s private security industry

Closing date: 04 February 2026 at 11:00. Virtual compulsory briefing session date not specified — attendance is mandatory.

SCM/Technical contact: [email protected], phone: 012 003 0524. Submission address: PSiRA Head Office tender box, 420 Witch-Hazel Avenue, Eco Glades Block B2-Eco Park, Centurion, Pretoria. General PSiRA contact: [email protected], tel: 086 10 (PSiRA) 77472, int: +27 12 337 5500, fax: 086 242 7180 / 086 246 7750. Fraud hotline: 0860 333 036, email: [email protected].

Submit 2 indexed hard copies (1 original + 1 copy) and a USB with identical documentation. Seal and mark bids with the reference number. Deposit in the PSiRA Head Office tender box at 420 Witch-Hazel Avenue, Eco Glades Block B2-Eco Park, Centurion, Pretoria. No emailed, posted, or late bids accepted. Use courier services if needed and confirm receipt with the SCM office. All compulsory forms (SBD1, SBD3.3, SBD4, SBD6.1, GCC, TOR) must be fully completed, initialed on every page, and signed where required. Correction fluid is prohibited. Bids must remain valid for 120 days from closing date. Proof of CSD registration required. Attend the virtual compulsory briefing session or risk disqualification.

Evaluation occurs in 4 stages: (1) Compulsory Requirements (gatekeepers): Submit all mandatory documents (SBD1, SBD3.3, SBD4, SBD6.1, GCC, TOR) and a valid FSP license (FAIS Act). Failure to comply or attend the briefing results in disqualification. (2) Functionality (80 points, min 70 to pass): Company profile (10-30 yrs exp: 5 pts, 5-9 yrs: 3 pts, <5 yrs: 0 pts), organogram + team CVs (10 pts for directors/managers/5 team members, 10 pts for Lead Broker with 5+ yrs exp + 4 team members with 2+ yrs exp), guarantee fund strategy (10 pts for detailed strategy with products/structure/projections/capital), project plan (10 pts for timelines/activities/reporting), capital funding (15 pts for R20M+ confirmation), reference letters (15 pts for 3 compliant, 10 for 2, 5 for 1). (3) Presentation (20 points, min 10 to pass): Strategy/project plan (5 pts), risk analysis (10 pts), insurance products (5 pts). (4) Price (80/90) + Specific Goals (20/10): Price uses formula Ps = 80*(1 - (Pt-Pmin)/Pmin). Specific goals: Black ownership (10-1 pts), Black women ownership (10-1 pts).

Scope: Establish and manage a guarantee fund for 5 years to support PSiRA and its members. Key deliverables: (a) Provide bespoke public liability insurance (group cover) for all private security industry members. (b) Propose additional insurance products for businesses/individuals in the industry. (c) Manage applications and claims for the guarantee fund. (d) Provide ongoing insurance risk advice. (e) Handle day-to-day correspondence/queries. (f) Comply with POPIA. (g) Develop a process flow for fund management. (h) Provide underwriting services. (i) Develop a project plan (8-month implementation) with stakeholder engagement. (j) Define policy position for PSiRA and stakeholders. (k) Identify fund purpose and holistic products/services. (l) Develop governance guidelines. (m) Perform actuarial services for fund viability. (n) Identify mandatory operational requirements. (o) Provide fund management (can be intermediary). (p) Advise on investment options. (q) Advise on draft regulations. (r) Determine premiums. (s) Provide capital strategy roadmap. (t) Assist with regulatory compliance/registration. (u) Report to Trustees/PSiRA Council quarterly. Fund purpose: Limited guarantee for public liability, consumer protection, improved service standards, compliance strengthening, cost reduction, sustainable funding, professionalization, SMME development. Benefits: Public liability cover (e.g., death benefits), elimination of underpricing, client protection, risk management assurances, regulated fund.

Pricing must be firm, include all costs (establishment, product development, policy admin system, insurance strategy, admin costs), and include VAT for the 5-year contract duration. Submit a letter confirming capital funding of R20M or more. Price evaluation uses the formula Ps = 80*(1 - (Pt-Pmin)/Pmin) for bids ≤ R50M. Bidders must hold prices valid for 120 days from closing date.

Mandatory: Valid FSP license (FAIS Act) with certified proof. CSD registration proof required. All forms (SBD1, SBD3.3, SBD4, SBD6.1, GCC, TOR) must be completed, initialed, and signed. Correction fluid prohibited. Bids must conform to minimum requirements or explicitly state deviations. Preference given to bids strictly adhering to specifications. B-BBEE: Points for black ownership (100%: 10/5 pts, 75-99%: 5/3 pts, 50-74%: 3/2 pts, 1-49%: 1 pt) and black women ownership (75-100%: 10/5 pts, 51-74%: 5/3 pts, <51%: 1 pt).