standard form of bidding documents for epc/turnkey - Pakistan ...

(f)
clearance of debris, maximum @ 5 % of minimum amount of Third Party
Liability Insurance
Plus 30% to cover any additional costs resulting from loss or damage thereof.
Sub-Clause 43.1.3 General
Should a loss be sustained, the Contractor shall replace or repair any loss or damage at his own
cost and complete the Works in accordance with the Contract as soon as possible after occurrence
of such loss or damages, without waiting for the settlement of the insurance claim.”
Sub-Clause 43.2 Contractor's Equipment
The text of Sub-Clause 43.2 is deleted and substituted by the following:
“The Contractor shall insure the Contractor's Equipment for its full replacement value while on the
Site against all loss or damage caused by any of the Contractor's Risks.”
Sub-Clause 43.7 Remedies on the Contractor’s Failure to Insure
In 3rd line after the word, “purpose”, the expression “and reasonable costs including the manhours
costs of Employer’s Personnel” is added.
The following new Sub-Clauses 43.9 to 43.12 are added:
Sub-Clause 43.9 Currency of Insurance
All policies of Insurance of the Plant shall provide for payment of indemnity to be made in
such amounts as will allow making good of loss of or damage to the whole or any part of the
Works.
Sub-Clause 43.10 Contractor to Notify
It shall be the responsibility of the Contractor to notify the insurance company of any changes in
nature and extent of the Works and to ensure the adequacy of the insurance coverage at all times in
accordance with the provisions of the Contract.
Sub-Clause 43.11 Procurement of Insurance Policies
The Contractor shall procure and submit the insurance cover under this Clause within a
period of twenty eight (28) days from the date of receipt of Letter of Acceptance from the
Employer.
Sub-Clause 43.12 Insurance Company
The policies of marine insurance and all other insurances with respect to Contractor’s operations in
Pakistan shall be effected with any of the insurance company acceptable to the Employer operating
in Pakistan with financial strength rating of AA approved by Pakistan Credit Rating Agency
(PACRA) or JCR including National Insurance Corporation (NIC) of Pakistan.”
Sub-Clause 44.6 Damage Caused by Force Majeure