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Reinsurance of the Bankers Blanket Bond Insurance of the Land Bank of the Philippines Tender

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GOVERNMENT SERVICE INSURANCE SYSTEM has floated a tender for Reinsurance of the Bankers Blanket Bond Insurance of the Land Bank of the Philippines. The project location is Philippines and the tender is closing on 03 Dec 2021. The tender notice number is 2022-GSIS-PB-016, while the TOT Ref Number is 59693872. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.

Procurement Summary

Country : Philippines

Summary : Reinsurance of the Bankers Blanket Bond Insurance of the Land Bank of the Philippines

Deadline : 03 Dec 2021

Other Information

Notice Type : Tender

TOT Ref.No.: 59693872

Document Ref. No. : 2022-GSIS-PB-016

Competition : ICB

Financier : Self Financed

Purchaser Ownership : -

Tender Value : PHP 19309500.00

Purchaser's Detail

Purchaser : GOVERNMENT SERVICE INSURANCE SYSTEM
Patrick Orines Gonzales
Staff Officer III
GSIS Headquarters
Financial Center, Roxas Boulevard
Pasay City
Pasay City
Metro Manila
Philippines 1308
63-2-9764900 Ext.3516
63-2-8590373
Philippines
Email :pogonzales@gsis.gov.ph

Tender Details

Tender are invited for Reinsurance of the Bankers Blanket Bond Insurance of the Land Bank of the Philippines

Procurement Mode : Public Bidding

Classification : Goods

Category : Services

Contract Duration : 0 Day/s

Budget for the Contract : PHP 19, 309, 500.00

Description : 1. The Government Service Insurance System (GSIS), through the GSIS Corporate Operating Budget for CY 2022, intends to apply the sum of Nineteen Million Three Hundred Nine Thousand Five Hundred Pesos (Php19, 309, 500.00) being the ABC to payments under the contract for the Reinsurance of the Bankers Blanket Bond Insurance of the Land Bank of the Philippines, with the following details:

Assured Land Bank of the Philippines

Line Bankers Blanket Bond Insurance

Period of Insurance From: January 01, 2022 (00:00 Hour)

To: December 31, 2022 (24:00 Hours)

Total Sum Insured

Gross Php2, 500, 000, 000.00

Retention Php 250, 000, 000.00

Facultative Php2, 250, 000, 000.00

Premiums

Gross Premiums (exclusive of VAT) Php 21, 455, 000.00

Retention Php 2, 145, 500.00

Facultative (ABC exclusive of VAT) Php 19, 309, 500.00

Relevant underwriting information shall be issued only to bidders who purchased the Bidding Documents.

Bids received in excess of the ABC shall be automatically rejected at bid opening.

2. The GSIS now invites bids for the abovementioned Procurement Project. The reinsurance cover shall be for a period of 12 months from the...