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Non-submission of Certificate from Insurance Commission with project specific

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Non-submission of Certificate from Insurance Commission with project specific

Post by dos_inhinyero_sivil on Mon Jul 30, 2012 7:54 pm

In behalf of PPSC BAC, I would like to ask question, " IS THE NON-SUBMISSION OF CERTIFICATE FROM THE INSURANCE COMMISSION THAT THE INSURER IS AUTHORIZED TO ISSUE BOND CALLABLE IN DEMAND AND SPECIFIC TO THE PROJECT, A GROUND FOR DISQUALIFICATION?

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Re: Non-submission of Certificate from Insurance Commission with project specific

Post by RDV @ GP3i on Mon Jul 30, 2012 8:51 pm

dos_inhinyero_sivil wrote:In behalf of PPSC BAC, I would like to ask question, " IS THE NON-SUBMISSION OF CERTIFICATE FROM THE INSURANCE COMMISSION THAT THE INSURER IS AUTHORIZED TO ISSUE BOND CALLABLE IN DEMAND AND SPECIFIC TO THE PROJECT, A GROUND FOR DISQUALIFICATION?

If you are submitting a Surety Bond as your bid security, it is a requirement that it has to be accompanied by a certification from the Insurance Commission that the surety or insurance company is duly authorized to issue surety bond callable on demand. Failure, therefore, to submit such, together with the Surety Bond, will be a ground for disqualification. However, the certification need not be specific to the project. It should only be specific to the surety or insurance company.
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Re: Non-submission of Certificate from Insurance Commission with project specific

Post by bogkalabog on Tue Jul 31, 2012 11:23 am

How about NPM 17-2012? It states there that the certification from the IC must also be project specific. How do we "handle" NPMs? :-)
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Re: Non-submission of Certificate from Insurance Commission with project specific

Post by dos_inhinyero_sivil on Tue Jul 31, 2012 11:45 am

Yes, how about NPM 17-2012? Thanks, Bogkalabog. There should be consistency on project specific of suretybond, performance bond and bid bond. Kindly elaborate and further explain this matter as we are in the process of post qualification. Enlighten Us.

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Re: Non-submission of Certificate from Insurance Commission with project specific

Post by engrjhez® on Tue Jul 31, 2012 1:20 pm

I believe there is a problem in the last sentence of NPM 17-2012.

You may refer to precedent opinions which does not conform with such:

NPM 011-2011
http://www.gppb.gov.ph/opinions/view_nonpolicy.php?id=631

NPM 024-2010
http://www.gppb.gov.ph/opinions/view_nonpolicy.php?id=615

NPM 013-2010
http://www.gppb.gov.ph/opinions/view_nonpolicy.php?id=606

Hence, there is NO basis, in my opinion, on the statement that "...the certification from the Insurance Commission must also be project specific." since there is no certification was ever issued by the IC (in as far as i have seen so far) that is project specific. Further, it overextends to the intent of prescribing such certification.



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Re: Non-submission of Certificate from Insurance Commission with project specific

Post by RDV @ GP3i on Tue Jul 31, 2012 4:10 pm

bogkalabog wrote:How about NPM 17-2012? It states there that the certification from the IC must also be project specific. How do we "handle" NPMs? :-)

Without GPPB-TSO admitting to it, I think there is already a change in its previous position/opinion that the certification from the IC be project specific, if you look at the more recent opinion in NPM 69-2012. (I noticed, however, that lately, something changed in the content of the opinion. The opinion that is now reflected there is the same opinion which appeared in NPM 68-012.)

Since I still have the previous opinion which appeared before in its NPM 69-2012, let me quote GPPB's opinion below:

"Surety Bond posted as bid security must comply with the following minimum requirements:

a) Posted in favor of the item subject for procurement of the procuring entity concerned;

b) Callable on demand;

c) Issued by a reputable insurance or surety company, including the GSIS;

d) Equivalent to at least five percent (5%) of the ABC, in accordance with the schedule provided under Section 27 of the IRR of Republic Act (R.A.) No. 9184;

e) Valid for a period of at least one hundred twenty (120) c.d. pursuant to Section 28 of the IRR of R.A. 9184; and

f) Accompanied with a certificate unequivocally stating that the surety or insurance company is specifically authorized to issue surety bonds callable on demand issued by the IC.
"

If you will notice, the requirement in item (f) above only required that the accompanying certificate should unequivocably states that the surety or insurance company is specifically authorized to issue surety bonds callable on demand. It no longer requires that the certification should also be project specific. This latest opinion, which is the correct one in my humble opinion also, should now prevail over that of the older opinion in NPM 17-2012.
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Re: Non-submission of Certificate from Insurance Commission with project specific

Post by dos_inhinyero_sivil on Tue Jul 31, 2012 7:23 pm

In other words, Enough is the Certificate from the INSURANCE COMMISSION that INSURANCE COMPANY is authotized to issue bond without stating project specific. Thanks.

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