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GPA INSURANCE

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									P&A/IR/GPA (1)/2010/                                                      Date: 26-05-2010

01.    M/s. United India Insurance Co. Ltd, 02. M/s. Oriental Insurance Co. Ltd.
03.    M/s. National Insurance Co. Ltd.
04.    M/s. ICICI Lombard General Insurance Co. Ltd.         (Address of the parties
05.    M/s. IFFCO – Tokyo General Insurance Co. Ltd.                enclosed)
06.    M/s. New India Assurance Co. Ltd.
07.    M/s. Cholamandalam MS General Insurance


Sir,

          SUB:    TENDER NOTICE FOR RENEWAL OF GROUP PERSONAL ACCIDENT
                              - (GPA) INSURANCE POLICY

Sealed quotations super scribing “ Quotation for   Renewal of GPA Policy”       are
invited by the undersigned for renewal of the GPA Insurance Policy covering all the
employees of HOCL, Kochi Unit for the period from 27-06-2010 to 26-06-2011
under the following terms and conditions and will be received up to 3.00 p.m. on
16.06.2010.

A) Scope & Schedule

   1       Estimated Wages                  Rs.6110 Lakhs. To be adjusted based on the actual
           (50 times of Basic Pay +         Salary to be declared subsequently
           PP+DP+VDA)
                                            1. As per table III/IV of Personal Accident Policy
                                            -Death, Permanent total            Disability, Permanent–
   2       Table of Benefits                Partial Disability, Temporary Total Disability

                                            2. Weekly Compensation may be 1% of the Capital Sum
                                            Assured or Proportionate salary (BP+PP+DP+VDA)
                                            whichever is minimum.

                                            3. Accidental Medical Expenses : 50%             of the
                                            admissible claim

           Maximum Claim Amount             50 times of BP+DP+VDA per claim
   3       (per single claim)


                                                                                 (…2/-)
                                                           : 2:

B. Terms & Conditions:

1.       At present there are 430 employees in our factory to be covered under the
         Policy initially and the new recruits joining in the company service during the
         Policy period shall also be covered under the policy on intimation from HOCL..
         The list of employees on the rolls of the company at present    along with the
         details of Basic Pay, PP, DP, VDA and sum assured is enclosed.

2.       The estimated annual wage given in the above table is calculated based on the
         present Basic pay , VDA and DP of the employees currently on the rolls of the
         company. The increase in the salary (BP+ PP+DP +VDA) on account of salary/wage
         revision, increment, promotions,      DA increases    etc. shall be taken into
         consideration while settling the GPA claim. As such claim settlement shall be
         based on the actual salary (BP+PP+DP+VDA) drawn by the employee before the
         accident.

3.       Since there would be increase in the estimated sum assured due to wage revision,
         DA increase, increments, promotions etc. and also due to the inclusion of new
         recruits as and when they join , the actual salary for the Policy period will be
         submitted to the Insurance company at the end of the policy period and the
         premium will be adjusted on the basis of actual declaration.

4.       Submission of Tender: -The Tenders shall be either deposited in the Tender box
         kept in the office of the undersigned or send by post so that tender shall reach
         to the undersigned before 3.00 p.m. 16-06-2010.

5.       Opening of Tenders: Tenders shall be opened in the presence e of available
         bidders at 4.00 p.m. on 16-06-2010. The venue of opening of tender shall be the
         Training Centre of HOCL, Ambalamugal
6.       The bidder is expected to quote the premium amount and service tax if any,
         separately.
7.       Late and incomplete quotations shall not be accepted under any circumstances.

You are requested to quote your lowest premium amount for the above policy
and submit the same before the due date.

Thanking you,

Yours faithfully,
For HINDUSTAN ORGANIC CHEMICALS LTD,

(K.K. VIJAYAKUMAR)
DY. GENERAL MANAGER (P&A)
-----------------------------------------------------------------------------------------------------------------------
This is a limited Tender floated to limited no. of Vendors in our Vendor list. Parties who are
responding against this Tender will be considered for inclusion in our Vendor list for further
requirement.

								
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