Attachment #4 Insurance.pdf
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- Solicitation number
- 19AQMM20R0062
About this file
This document outlines insurance requirements for a federal construction contract solicitation. The solicitation is for the construction of one lodging building at the Colombian National Police Aviation School in Mariquita, Colombia. The estimated value of the contract is between $500,000 and $1,000,000, with a period of performance of 210 calendar days from notice to proceed. The document specifies the types and amounts of insurance policies that must be submitted at various stages of contract performance, including a performance policy equal to 30% of the contract value, a payment policy for salaries and benefits equal to 20% of the contract value, a liability policy equal to 30% of the contract value, a stability policy equal to 30% of the contract value submitted at acceptance of work, a quality policy for elements equal to 30% of the contract value submitted at acceptance of work, and a correct equipment functioning policy equal to 30% of the contract value submitted at acceptance of work. Each policy is required to be valid for durations ranging from one to three years.
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Attachment #4 - INSURANCE POLICIES
SOLICITATION No. 19AQMM19R0123
Lodging Barracks in Santa Marta, Colombia
Performance Policy (Póliza de Cumplimiento): Submitted after the contractor is signed and prior to the notice to proceed in a sum equal to 30% of the value of the contract and valid for the duration of the contract and a further two months, Payment Policy (Póliza de Pago de Salarios y Prestaciones Sociales): Submitted after the contract is signed and prior to the notice to proceed in a sum equal to 20% of the value of the contract, and valid for the duration of the contract and a further three years for the salaries and social benefits of the workers.
Liability Policy ( Póliza de Responsabilidad Civil Contractual): submitted after the contract is signed and prior to the notice to proceed in a sum equal to 30% of the value of the contract, and valid for the duration of the contract and a further two months covering contractual and Third Party Civil Liability, Stability Policy (Póliza de Estabilidad): Submitted when the acceptance of work is signed in a sum equal to 30% of the value of the contract, and valid for three years from the date of the handover of the work/ substantial completion.
Elements Quality Policy ( Póliza de Calidad de Elementos): Submitted when the acceptance of work is signed in a sum equal to 30% of the value of the contract, and valid for one year from the date of the handover of the work/ substantial completion.
Correct Equipment Functioning Policy (Póliza de correcto funcionamiento de los equipos): Submitted when the acceptance of work is signed in a sum equal to 30% of the value of the contract, and valid for one year from the date of the handover of the work/ substantial completion
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