Consulate General of the Republic of Korea in Los Angeles

(The Korean Consulate General in Los Angeles Bid Invitation)

Open Bid Invitation [ Package Insurance]

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1. Description: Package Insurance for the Korean Consulate General in Los Angeles (Including Earthquake, Accident)

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2. Qualification
■ Insurance carrier that meets basic eligibility for participation in the bid (refer to Decree Article 12*)

       and that successfully follows the procedures set out below.
■ Insurance carriers with a rating of A or above by A.M. Best are preferred.
■ Prospective bidders should not be undergoing any legal disputes (including liquidation,

       M&A, disposal, legal composition, court receivership), as of the date the notice was written.
■ Prospective bidders should not have received any legal warnings by the related Government

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3. Registration Due: Tuesday, December 8th 2020 by 11:59 p.m.(P ST)
- Email the required documents below to shmyung11@mofa.go.kr
■ Registration form (Attached [Form1])
    ■ Brief portfolio (Information of insurer and the concerned insurance, current clients, scale of the company, etc.)

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4. Final Due: Wednesday, December 8th 2020 by 11:59 p.m.(PST)
- Email the bidding price form (Attached [Form2]) and the contract format (including minimum coverage information) to shmyung11@mofa.go.kr

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5. Bidding Result: To be informed individually after  Wednesday, December 9th , via email or call

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6. Bidding Decisions:
 ■ We take the open competitive bidding method. Only bidders which submitted proposal estimate lower than EIR will be reviewed, and after the review the most qualified bidder will be awarded with the project. (Comprehensive factors, including EIR, size of the company, past performances, etc will be considered during review) There might be a possible negotiation process.

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7. Expected Investment Range: Under USD 20,000.00

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8. Contract Schedule:
Contract Signing: Within 3 days from the result announcement
※ If the successful bidder does NOT wish to continue the contract, it is required that the bid deposit (5% of EIR, waived at
registration) be paid to the Embassy (*Decree Article 37, 38).
Contract period: Dec 1st, 2020 ~ Nov 30th, 2021

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9. Bidding Invalidation:
Applicants that do not meet the stated qualifications will not be considered for this bid.
Applications with insufficient, forged and counterfeit documents will not be considered (*Decree Article76).

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10. Others:
All bidders are obliged to be fully aware of information specified in bid invitation. The KCG L A is not held responsible for any issues arising from misinterpretation by bidder. The KCG LA promotes transparency and fairness in contracts (*Decree Article5-2),

and a successful bidder must sign ‘Pledge to Implement Integrity Pact’ and ‘Confidentiality Agreement’.
The KCG LA may request bidding deposit and contract deposit according to the *Decree Article 37 and 50.
Any difference of interpretation would follow the interpretation of the KCG LA.
Inquiry: shmyung11@mofa.go.kr or 213-385-9300 (Forms can be found at overseas.mofa.go.kr)
* Enforcement Decree of the Act on Contracts to Which the State Is A Party (Korea)

December 1, 2020

The Korean Consulate General in Los Angeles