We need to understand the cost break up in detail. We are moving from a traditional way of negotiation and working with our suppliers as a long term strategic partner.
Cost what you are asking for Thailand of pipes, fitting, sprinklers is too high as compare to local Thailand Market. We are procuring these products from Thailand Market on regular basis.
So please work out better to have a win win situation for both of us.
Also regarding contract I checked with our Legal and Finance department it seems they agreed for the insurance of complete project not less than twice of the PO value.
You can check with your insurer and get back to us on the same, accordingly you can resubmit your quote, based on this only we will be able to proceed further.