INVITATION TO TENDER – FIRE & PERIL, MACHINERY BREAKDOWN & BUSINESS INTERRUPTION

TENDERS FOR FIRE & PERILS AND MACHINERY BREAKDOWN &
BUSINESS INTERRUPTION INSURANCE

The B.V.I. Electricity Corporation is inviting tenders for its Fire & Peril and Machinery Breakdown and Business Interruption insurance policy for its physical assets located at Long Bush, Pockwood Pond, Tortola and the Settlement, Anegada Power Stations including its Substations for the period March 9th, 2022 to March 9th, 2023.

For this purpose, please find the specific details of risk values for each location on the attached schedule.

Your tender should include the following:

1. Four separate and distinct quotations inclusive of policy terms and conditions:
a) based on values at 100%
b) based on values at 80%; and

2. Required coverage for Business Interruption:
a) based on $4 million on a first loss basis
b) Based on $5 million on a first loss basis.

3. Clearly defined procedures in the event of a claim.

4. Clearly defined sub-limits with various options.

The tenders must be submitted in a sealed envelope marked “Tender for Fire & Perils and Machinery Breakdown, and Business Interruption Insurance” and addressed to:

The General Manager
B.V.I. Electricity Corporation
P.O. Box 268
Road Town, Tortola
British Virgin Islands VG 1110

All queries should be sent formally in writing no later than a week prior to the closing date.

Closing date for tenders is January 18, 2022 at 3:00 p.m.

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