Procurement Summary
Country : Philippines
Summary : Reinsurance of the Industrial all Risk Insurance of the Philippine Ports Authority for the Account of Asian Terminals, Inc.
Deadline : 04 Nov 2021
Other Information
Notice Type : Tender
TOT Ref.No.: 58632653
Document Ref. No. : 2022-GSIS-PB-032
Competition : ICB
Financier : Self Financed
Purchaser Ownership : -
Tender Value : PHP 10809414.04
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 Industrial All Risk Insurance of the Philippine Ports Authority for the account of Asian Terminals, Inc.
Procurement Mode : Public Bidding
Classification : Goods
Category : Services
Contract Duration : 0 Day/s
Budget for the Contract : PHP 10, 809, 414.04
Description : 1. The Government Service Insurance System (GSIS), through the GSIS Corporate Operating Budget for CY 2022, intends to apply the sum of Ten Million Eight Hundred Nine Thousand Four Hundred Fourteen Pesos and Four Centavos (Php10, 809, 414.04) being the ABC to payments under the contract for the Reinsurance of the Industrial All Risk Insurance of the Philippine Ports Authority for the account of Asian Terminals, Inc., with the following details:
Assured Philippine Ports Authority for the account of Asian Terminals, Inc. jointly with ATI Batangas, Inc.
Line Industrial All Risk Insurance
Period of Insurance From: January 1, 2022 (00:00 Hour) To : December 31, 2022 (24:00 Hours)
Total Sum Insured
Gross Php9, 780, 770, 418.87
Retention Php1, 467, 115, 562.83
Facultative Php8, 313, 654, 856.04
Premiums
Gross Premiums (exclusive of VAT) Php12, 716, 957.70
Retention Php 1, 907, 543.66
Facultative (ABC exclusive of VAT) Php10, 809, 414.04
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...
Documents
Tender Notice