Proposed Renovation of Former Jacinto Building - Clark Freeport Zone
Proposed Renovation of Former Jacinto Building - Clark Freeport Zone Proposed Renovation of Former Jacinto Building - Clark Freeport Zone
15.2. The Contractor shall provide evidence to the Procuring Entity’sRepresentative that the insurances required under this Contract havebeen affected and shall, within a reasonable time, provide copies of theinsurance policies to the Procuring Entity’s Representative. Suchevidence and such policies shall be provided to the Procuring Entity’sthrough the Procuring Entity’s Representative.15.3. The Contractor shall notify the insurers of changes in the nature,extent, or program for the execution of the Works and ensure theadequacy of the insurances at all times in accordance with the terms ofthis Contract and shall produce to the Procuring Entity’s Representativethe insurance policies in force including the receipts for payment of thecurrent premiums.The above insurance policies shall be obtained from any reputableinsurance company approved by the Procuring Entity’s Representative.15.4. If the Contractor fails to obtain and keep in force the insurancesreferred to herein or any other insurance which he may be required toobtain under the terms of this Contract, the Procuring Entity mayobtain and keep in force any such insurances and pay such premiumsas may be necessary for the purpose. From time to time, theProcuring Entity may deduct the amount it shall pay for said premiumsincluding twenty five percent (25%) therein from any monies due, orwhich may become due, to the Contractor, without prejudice to theProcuring Entity exercising its right to impose other sanctions againstthe Contractor pursuant to the provisions of this Contract.15.5. In the event the Contractor fails to observe the above safeguards, theProcuring Entity may, at the Contractor’s expense, take whatevermeasure is deemed necessary for its protection and that of theContractor’s personnel and third parties, and/or order the interruptionof dangerous Works. In addition, the Procuring Entity may refuse tomake the payments under GCC Clause 40 until the Contractor complieswith this Clause.15.6. The Contractor shall immediately replace the insurance policy obtainedas required in this Contract, without need of the Procuring Entity’sdemand, with a new policy issued by a new insurance companyacceptable to the Procuring Entity for any of the following grounds:(a)The issuer of the insurance policy to be replaced has:(i)become bankrupt;(ii)been placed under receivership or under a managementcommittee;54Clark Development CorporationSection IV General Conditions of ContractProposed Renovation of Former Jacinto Building(Motorpool, Records, Warehouses and Maintenance Area)
(iii)(iv)(v)been sued for suspension of payment; orbeen suspended by the Insurance Commission and itslicense to engage in business or its authority to issueinsurance policies cancelled; orWhere reasonable grounds exist that the insurer may notbe able, fully and promptly, to fulfill its obligation underthe insurance policy.16. Termination for Default of Contractor16.1. The Procuring Entity shall terminate this Contract for default when anyof the following conditions attend its implementation:16.2. Due to the Contractor’s fault and while the project is on-going, it hasincurred negative slippage of fifteen percent (15%) or more inaccordance with Presidential Decree 1870, regardless of whether or notprevious warnings and notices have been issued for the Contractor toimprove his performance;16.3. Due to its own fault and after this Contract time has expired, theContractor incurs delay in the completion of the Work after thisContract has expired; or16.4. The Contractor:(a)(b)(c)(d)(e)abandons the contract Works, refuses or fails to comply with avalid instruction of the Procuring Entity or fails to proceedexpeditiously and without delay despite a written notice by theProcuring Entity;does not actually have on the project Site the minimumessential equipment listed on the Bid necessary to prosecute theWorks in accordance with the approved Program of Work andequipment deployment schedule as required for the project;does not execute the Works in accordance with this Contract orpersistently or flagrantly neglects to carry out its obligationsunder this Contract;neglects or refuses to remove materials or to perform a newWork that has been rejected as defective or unsuitable; orSub-lets any part of this Contract without approval by theProcuring Entity.55Clark Development CorporationSection IV General Conditions of ContractProposed Renovation of Former Jacinto Building(Motorpool, Records, Warehouses and Maintenance Area)
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(iii)(iv)(v)been sued for suspension <strong>of</strong> payment; orbeen suspended by the Insurance Commission and itslicense to engage in business or its authority to issueinsurance policies cancelled; orWhere reasonable grounds exist that the insurer may notbe able, fully and promptly, to fulfill its obligation underthe insurance policy.16. Termination for Default <strong>of</strong> Contractor16.1. The Procuring Entity shall terminate this Contract for default when any<strong>of</strong> the following conditions attend its implementation:16.2. Due to the Contractor’s fault and while the project is on-going, it hasincurred negative slippage <strong>of</strong> fifteen percent (15%) or more inaccordance with Presidential Decree 1870, regardless <strong>of</strong> whether or notprevious warnings and notices have been issued for the Contractor toimprove his performance;16.3. Due to its own fault and after this Contract time has expired, theContractor incurs delay in the completion <strong>of</strong> the Work after thisContract has expired; or16.4. The Contractor:(a)(b)(c)(d)(e)abandons the contract Works, refuses or fails to comply with avalid instruction <strong>of</strong> the Procuring Entity or fails to proceedexpeditiously and without delay despite a written notice by theProcuring Entity;does not actually have on the project Site the minimumessential equipment listed on the Bid necessary to prosecute theWorks in accordance with the approved Program <strong>of</strong> Work andequipment deployment schedule as required for the project;does not execute the Works in accordance with this Contract orpersistently or flagrantly neglects to carry out its obligationsunder this Contract;neglects or refuses to remove materials or to perform a newWork that has been rejected as defective or unsuitable; orSub-lets any part <strong>of</strong> this Contract without approval by theProcuring Entity.55<strong>Clark</strong> Development CorporationSection IV General Conditions <strong>of</strong> Contract<strong>Proposed</strong> <strong>Renovation</strong> <strong>of</strong> <strong>Former</strong> <strong>Jacinto</strong> <strong>Building</strong>(Motorpool, Records, Warehouses and Maintenance Area)
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