Tender Procedure No. 008/2020 – Property Insurances

NDA Agreement Property Insurance

1. Παραχωρείται παράταση για την υποβολή προσφοράς μέχρι την Παρασκευή 5 Φεβρουαρίου 2021 στις 13:00

2.Clause (b) of the Participation Conditions on page 3 of the Invitation to Tender, is hereby amended as follows: «At least two (2) of the last three (3) financial years (2017, 2018, 2019) must be profitable (net profit after tax). However, in case of one net loss year, SCR ratio during 2019, must not be less than the SCR ratio during 2016».

3.Insurance Period clause on page 10 of the Invitation to Tender is hereby amended as follows: «Policy holders may renew annually for up to another one (1) year under the same terms and conditions (including rates)».

4.Mortgaged Buildings (Table A) – Indemnification: We wish to remind you that:

– Claims will be settled on an indemnity basis, i.e. the current rebuilding cost minus wear and tear depreciation. Therefore, the sum insured represents the value of the building and not the lender’s interest.

– Any loss shall be payable to the mortgagee who will be the policyholder / insured. The policy wording should provide that the whole loss is to be paid to the mortgagee who has an insurable interest in the insured property. If the insurance money is in excess of the mortgagee’s interest, under common law the mortgagee is holding the excess as trustee of the mortgagor.

Για την υποβολή προσφοράς να χρησιμοποιηθεί το Appendıx 2-Revised προς αντικατάσταση του Appendıx 2 που περιλαμβανόταν στα αρχικά έγγραφα