validity of the Down-Payment Refund Bond for a period as TTCL may reasonable
consider necessary.
The Down-Payment Refund Bond shall be issued in Thai Baht currencies, covering
the respective value of the down payment amounts in Thai Baht currency.
The Bond shall be returned to the CONTRACTOR at the time when the certificate of
FINAL ACCEPTANCE OF WORKS is issued or at any time thereafter when the
down-payment shall have been fully recovered by TTCL.
INSURANCE
(I) TTCL-Fumished Insurance
TTCL shall procure and maintain at his own cost and expenses from a suitable
insurance company the following insurances to the maximum Extend acceptable by
insurance company in normal condition of coverage under the insurance policy.
(a) Erection All Risks Insurance (EAR) / Third party liability insurance.
This insurance shall cover all physical loss of or damage to the
PERMANENT WORKS from the time of commencement of the
construction works up to the time of Final Acceptance of the
PERMANENT WORKS by the CLIENT. However, the CONSTRACTOR
shall assume his due responsibility for and, at his own cost, carry out any
and all necessary removal, repair, replacement, correction and/or reconstruction
of any improper part which is not covered by this insurance.
The CONTRACTOR shall also be responsible to bear the amount of 20,000
Baht accident as deductible.
. (2) CONTRACTOR-Fumished Insurances
The CONTRACTOR shall procure and maintain the following insurances :
(a) Workmen's Compensation Insurance and/or Social Insurance
These insurances shall conform to and satisfy the requirement of the
applicable laws and regulations of the country, state, territory or province
having jurisdiction over the employees.
(b) Employer's Liability Insurance
This insurances shall cover all of the CONTRACTOR's personnel while
engaged in the WORKS,
(c) Other Insurances
ATTACHMENT B
PO.NO.D 182-5ftOO(5»=pOOOO{103
Other insurances which shall be necessary or the CONTRACTOR may
deem necessary for proper and adequate execution and maintenance of the
WORKS, including such insurances as Burglary Insurance, Overseas
Travel Accident Insurance. All Risks Marine Cargo Insurance for the
CONTRACTOR's equipment and materials of nonpermanent nature, and
Fidelity Guarantee Insurance.
6. GUARANTEE
The CONTRACTOR shall guarantee the workmanship of CONTRACTOR's work until 12
months from final acceptance of WORKS.
During this period, any repair work is necessary, CONTRACTOR shall repair at his cost.
7. ASSIGNMENT
CONTRACTOR shall not transfer or assign any right or obligation under this Agreement