Press Release

Ministry of Finance
Tender Notices
Release Date:
Thursday, 3 December 2015 - 5:00pm

The Government of the Virgin Islands is inviting tenders for the Insurance Plan for the Central Administration Complex in Road Town, Tortola.

The plan should provide, but not limited to the following benefits: Insurance coverage based on a value of $32,000,000.00 for the Central Administration Building, piling, generator building, woodwork shop, green house, fuel storage metal tank, main electrical transformers, and main water with service laterals and valves.

The plan should also cover the main sewer with service laterals and manholes, one electrical generator 750 KW-737KVA, fire sprinkler system, water pumps systems, elevator, electrical main control system, electrical and computer building back-up system, car parks, landscaping,  2, 250 ton central air condition chillers, demolition and clearance.

Coverage must be included for hazards including earthquakes, sea quakes, seismic activities flood coverage, tidal surges, tsunamis, windstorms, lightning, fire, hurricane, mud slides and landslides.

The sum insured must also take into consideration the present day value or cost of replacement; the loss payee must be paid in full in the event of a catastrophe;  removal of rubble in the event of a catastrophic disaster; and relocation expenses. Liability insurance of at least one million dollars ($1,000,000) coverage must be included in the insurance plan.

Tenderers must submit a valid insurance license issued pursuant to the Insurance Act 2008, or a copy of an insurance license application submitted to Director of Insurance. Tenderers must also submit a valid trade license; certificates of good standing from the Director of the Social Security Board, the Commissioner of Inland Revenue and the Commercial Registry.

Copies of the proposal form and policy wording, including copies of certificates and endorsements must be submitted.  Details of world-wide claims handling procedures and the estimated premium for specific listed coverages and applicable deductibles per coverage should be provided, along with evidence of Insurance Company rating for minimum of credit and claims settlement to a standard of Post “A” rating or its equivalent.          

Failure on the part of tenderers to enclose the supporting documentation indicated above with each respective tender will render the tender non-responsive on the date of opening of bids.

Tender documents are available upon request from the Ministry of Finance, Procurement Unit,  Rita Frett Georges (RFG) Place, Third Floor, Waterfront Drive, Tortola British Virgin Islands from Monday, December 14, between the hours of 9:00 a.m. to 4:00 p.m. 

A non-refundable fee of $100 must be paid by cash or bank cashier’s cheque made payable to the Accountant General when collecting the tender document.

The deadline for the submission of tenders is Tuesday, January 5, 2016 no later than 10:00 a.m. Tenders will not be received after the Tender Box is closed. Tenders will be publicly opened at the Ministry of Finance, Procurement Unit, located in the Rita Frett Georges Place, Third Floor beginning at noon on Tuesday, January 5, 2016. All tenderers are invited to attend.

For more information, interested persons can telephone the Procurement Coordinator Mrs. Ishma Rhymer at the Procurement Unit at 468-3701 ext. 4243 or 4244.

PDF icon public_tender_no12_of_2015.pdf404.83 KB