For the purpose of this Contract, the insurance
for Workmen’s Compensation and Public Liability
will be covered under the “Master Policies”
taken out by PSA on behalf of the Contractor. The
extent and limit of liability of these policies
are clearly spelled out in the “Master Policies”.
Should the Contractor intend to increase the amount
or the extent of the “Master Policies”
or to take additional(same or other type of insurance
policies) they may do so and they shall be deemed
to have allowed for them when they quoted for the
Contract.
The Contractor shall before commencement of any
work under this Contract ensure that there is in
force policies of insurance indemnifying PSA, the
Contractor and all sub-Contractors against damage
to persons and properties and Workmen’s Compensation
and employers’ liabilities under common law.
Such insurance shall be placed by the Superintending
Officer with such company or companies for such
amount and on such terms as he shall in his reasonable
discretion think fit. Provided that neither the
Superintending Officer nor PSA shall be under any
liability to the Contractor for any loss to the
Contractor that may arise from failure to effect
such insurance or from any deficiency in any insurance
taken out hereunder.
Any incident arising from or in connection with
the execution of the Contract must be reported to
the Superintending Officer immediately and claims
under “Master Policies” and any other
policies shall be reported and submitted by the
Contractor direct to the insurance Company concerned
immediately with copies to the Superintending Officer.
Notwithstanding the foregoing provisions the Contractor
may be terminated from the “Master Policies”
for this Contract at any time at the absolute discretion
of PSA by giving fourteen (14) days notice in writing
and without having to give reasons should PSA be
of the opinion it should be so terminated on account
of adverse claim experience or from whatever other
justifiable cause. Under such circumstances, the
Contractor should obtain from elsewhere at their
own expense and submit proof of the replacement
insurance policies of equal terms/conditions of
coverage & in the joint names of PSA and the
Contractor within the said period of fourteen (14)
days. Should the Contractor fail to obtain the said
replacement policies, PSA may after the expiry of
the said fourteen (14) days period and at the expense
of the Contractor obtain the replacement policies
for the Contractor for the remaining period of the
Contract. Should there be any refund of premium
as a result of termination of cover under the “Master
Policies”, the refund amount shall be credited
to the contractor.
For avoidance of doubts only, the provisions in
this Contract on insurance are without prejudice
to and shall not in any way affect any of the liabilities
whatsoever of the Contractor under the Contract
including but not limited to damage to persons &
properties.
