It is a requirement of this Contract that bidders hold, or can commit to obtain prior to the commence of any subsequently awarded Contract indicated below which shall be requested at the Request for Documentation Stage of the tender process:
Insurances:
Employers (Compulsory) Liability Insurance = 10 000 000 GBP in respect of each claim without limit to the number of claims. Tenderers may be required to provide their current Employers Liability Insurance certificate which should include name of the insurers, policy numbers, expiry date and limits for any 1 incident and annual aggregate caps and the excesses under the policies.
Public Liability Insurance = 5 000 000 GBP in respect of each claim without limit to the number of claims. Tenderers may be required to provide a copy of their current Public Liability Insurance certificate.
Product Liability Insurance = 5 000 000 GBP in respect of each claim without limit to the number of claims. Tenderers may be required to provide a copy of their current Professional Indemnity Insurance certificate.
Professional Indemnity Insurance = 1 000 000 GBP in respect of each claim without limit to the number of claims. Tenderers may be required to provide a copy of their current Professional Indemnity Insurance certificate.
Documentation requested for the above insurances should include name of insurers, policy numbers, expiry date and limits of any 1 incident and annual aggregate caps and the excesses under the policies.
Financial Standing:
The Council will access a Credit safe report for a Tenderers organisation and use the information contained within to assist with the assessment of the Bidder's economic and financial standing.
In the event that this analysis is unavailable or unsatisfactory the Council will request the following information below:
A copy of the organisation's audited accounts or equivalent for the most recent 2 years, along with details of any significant changes since the last year end.
Or
A statement of the organisation's turnover; profit and cash flow for the most recent full year of trading or where a full year trading has not been completed the same information for the period applicable. Note if this information is not available in an audited format Tenderers may be required to provide an end of period balance sheet or make the response specified below.
Or
If Tenderers are unable to provide the information requested above, they may be required to provide additional information and documentation that will give the Authority the assurance that they are capable of carrying out any subsequent awarded contract. For example, a statement of their organisation's cash flow forecast for the current year and a letter from the organisation's bank outlining the current cash and credit position or other alternative means of demonstrating financial standing.
In the event that analysis of the Tenderers financial position determines that additional measures are necessary in order to provide adequate assurance of financial strength, Tenderers may or may not be required to provide either a parent company guarantee and/or a bank guarantee.
In the event that additional measures are requested, the Council shall, in its sole discretion, determine the terms of those measures that it deems as acceptable. If Tenderers cannot provide measures to the satisfaction of the Council then their submission may be rejected.
