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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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