Attachment 4 - Insurance.pdf

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Attached to
INL Colombia Construction IDIQ
Solicitation number
19AQMM24R0102
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This document is an attachment detailing the insurance requirements for a construction contract. The key insurance requirements are:

Performance Insurance: 30% of contract value, valid for contract duration plus 2 months.

Payment Insurance: 20% of contract value, valid for contract duration plus 3 years for worker salaries and benefits.

Liability Insurance: 30% of contract value, valid for contract duration plus 2 months, covering contractual and third-party liability.

Stability Insurance: 30% of contract value, valid for 3 years after work completion.

Elements Quality Insurance: 30% of contract value, valid for 1 year after work completion.

Correct Equipment Functioning Insurance: 30% of contract value, valid for 1 year after work completion.

This attachment is related to the INL Colombia Construction IDIQ solicitation issued by the Department of State Office of Acquisition Management, with a proposal due date of August 16, 2024.

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ATTACHMENT 4 ‐ INSURANCE FOR CONSTRUCTION CONTRACTS

Performance Insurance (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 Insurance (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 Insurance ( 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 Insurance (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 Insurance ( 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 Insurance (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

File details come from the government source that posted it. Updated .