1. The Government Service Insurance System (GSIS), through the GSIS Corporate Operating Budget for CY 2022, intends to apply the sum of Thirty Five Million Two Hundred Fifty Eight Thousand Six Hundred Forty Three Pesos & 61/100 Centavos (Php35,258,643.61) being the ABC to payments under the contract for the Reinsurance of the Industrial All Risk Insurance of the Civil Aviation Authority of the Philippines, with the following details:

Assured Civil Aviation Authority of the Philippines

Line Industrial All Risks (IAR)

Period of Insurance August 01, 2022 to July 31, 2023

Total Sum Insured

Gross Php23,703,289,825.50
Retention Php 3,555,493,473.83
Facultative Php20,147,796,351.67
Premiums
Gross Premiums
(exclusive of VAT) Php41,480,757.19
Retention Php 6,222,113.58
Facultative
(ABC exclusive of VAT) Php35,258,643.61

Relevant underwriting information shall be issued only to bidders who purchased the Bidding Documents.

Bids received in excess of the ABC shall be automatically rejected at bid opening.

2. The GSIS now invites bids for the abovementioned Procurement Project. The reinsurance cover shall be for a period of 12 months from August 01, 2022 to July 31, 2023. Bidders should have completed, within the past five (5) years from the date of submission and receipt of bids, any of the following:

i. A contract similar to the Project whose value, adjusted to current prices using the PSA’s CPI, must be at least equivalent to fifty percent (50%) of the ABC; or

ii. At least two (2) similar contracts, the aggregate amount of which should be equivalent to at least fifty percent (50%) of the ABC for this Project; and the largest of these similar contracts must be equivalent to at least half of the percentage of the ABC as required above.

The deion of an eligible bidder is contained in the Bidding Documents, particularly, in Section II (Instructions to Bidders).

3. Bidding will be conducted through open competitive bidding procedures using a non-discretionary “pass/fail” criterion as specified in the 2016 revised Implementing Rules and Regulations (IRR) of Republic Act (RA) No. 9184.

Bidding is restricted to Filipino citizens/sole proprietorships, partnerships, or organizations with at least sixty percent (60%) interest or outstanding capital stock belonging to citizens of the Philippines, and to citizens or organizations of a country the laws or regulations of which grant similar rights or privileges to Filipino citizens, pursuant to RA No. 5183.

4. Interested bidders may obtain further information from the GSIS Bids and Awards Committee (GBAC) Secretariat and inspect the Bidding Documents at the address given below from 8:00AM to 5:00PM, Monday to Friday excluding holidays.

GBAC Secretariat, Level 2 Core G, GSIS Headquarters Building, Financial Center, Pasay City

5. A complete set of Bidding Documents may be acquired by interested Bidders starting on 29 March 2022, from 9:00AM to 4:00PM from the abovementioned address and website provided below and upon payment of the fee for the Bidding Documents in the amount of Php25,000.00.

It may also be downloaded from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the GSIS website (www.gsis.gov.ph/opportunities/gibac-notices), provided that bidders shall pay the applicable fee for the Bidding Documents not later than the submission of their bids.

6. The GSIS Bids and Awards Committee will hold a Pre-Bid Conference on 06 April 2022, starting at 10:00AM, at the following address:

GBAC Conference Room, Level 2 Core G, GSIS Headquarters Building, Financial Center, Pasay City

Interested bidders may participate in the Pre-Bid Conference through the Zoom video conferencing facility (Zoom Meetings). Please register via this : https://forms.gle/NcteepMXywUXMEwr7 to receive the Zoom Meeting ID No. and Password from the GBAC Secretariat.

The Pre-Bid Conference shall be open to prospective bidders.

7. Bids must be duly received by the GBAC Secretariat through manual submission at the office address indicated below on or before 20 April 2022, 9:30AM. Late bids shall not be accepted.

GBAC Secretariat, Level 2 Core G, GSIS Headquarters
Building, Financial Center, Pasay City

8. All Bids must be accompanied by a bid security in any of the acceptable forms and in the amount stated in ITB Clause 14.

9. Bid opening shall be on 20 April 2022, starting at 10:00AM, at the given address below. Bids will be opened in the presence of the bidders’ representatives who choose to attend the activity.