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Reinsurance of the Industrial all Risk Insurance of the Philippine Ports Authority... Tender

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GOVERNMENT SERVICE INSURANCE SYSTEM has floated a tender for Reinsurance of the Industrial all Risk Insurance of the Philippine Ports Authority for the Account of Asian Terminals, Inc.. The project location is Philippines and the tender is closing on 04 Nov 2021. The tender notice number is 2022-GSIS-PB-032, while the TOT Ref Number is 58632653. 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 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...