To prepare a tender offer for electronic procurement, PRESTIGE Insurance Company proposes to enter into a Voluntary Insurance Agreement for financial risk of non-performance or improper performance by the bidder of the requirements of the tender documentation.
Advantages of insurance in the PRESTIGE Insurance Company:
- providing a guarantee up to 2 hours;
- ack of collateral;
- minimum package of documents;
- unique experience in financial risk insurance;
- payment of insurance indemnity within 5 (five) working days from the date of receipt of the claim from the Beneficiary (Customer);
- availability of experts from various sectors of the economy to assist in the risk assessment process;
- experience with reinsurance companies.
Who can act as an insurer?
Bidder (able-bodied natural person or legal entity, regardless of ownership, resident and non-resident of Ukraine).
What is an insured event?
- withdrawal of the tender offer by the Insured after the expiration of the term of its submission, but before the expiration of the term during which the tender offers are considered valid;
- non-signing by the Insured, if he became the winner of the bidding procedure, of the procurement contract;
- failure of the Insured, if he became the winner of the tender procedure, to ensure the implementation of the procurement contract after receiving notice of intent to enter into such an agreement, if the provision of such security is provided by the tender documents;
- failure of the Insured, who became the winner of the tender, within the period specified in the second paragraph of the third part of Article 17 of the Law of Ukraine " About Public Procurement", documents confirming the absence of grounds under Article 17 of the Law “About Public Procurement".
Beneficiary - the Customer of the tender, who announced the tender.
According to the tender documentation of the Customer of the tender, the tender security is provided by the Tenderers, at their choice in the form of a bank guarantee or a contract of voluntary insurance of financial risk of non-performance or improper performance of the tender documentation.
The insurance contract is an alternative to a bank guarantee, which is cheaper but provides full insurance coverage in the event of an insured event.
What is the amount of the sum insured?
The sum insured is set in the amount of the tender security in accordance with the tender documentation.
How much is the insurance contract?
The insurance rate is from 2% of the sum insured, at least 2 000 UAH.
Franchise in accordance with the requirements of the tender documentation is not established.
For how long can an insurance contract be concluded?
The term of the Insurance Contract is equal to the term of the tender offer (from 90 days).
Terms and Conditions of the Voluntary Financial Risk Insurance Contract for non-fulfillment or improper fulfillment by the Insured of the tender documentation requirements comply with the Law of Ukraine “About Insurance”, Rules of Voluntary Financial Risk Insurance of PJSC “Prestige Insurance Company” approved by Natskomfinposlug of Ukraine Rules of voluntary insurance of financial risks registered by the National Commission for State Regulation of Financial Services Markets in accordance with Order №1456 of 21.08.2018 and Amendments of 04.10.2019 of registered Natskomfinposlug of Ukraine in accordance with Order №2218 of 07.11.2019 ) and an indefinite license of Natskomfinposlug of Ukraine series AE 90190484 dated 13.12.2012.