Insurance
The Contractor shall obtain and maintain in effect the following insurance coverage throughout the term of this Agreement:
a) Construction All Risks Insurance in an amount not less than the Contract Price to cover damages during the Contractor’s Works;
b) Third Party Liability Insurance in an amount of not less than [ ] Baht ([ ] Baht Only) for the period of Contractor’s Works; and
c) Professional Liability Insurance in an amount of no less than [ ] Baht ([ ] Baht Only) for the period of Contractor’s Works;
The above insurance shall be made with a reputable insurance company approved by the Owner. The insurance policy shall specify the name of the Owner as the beneficiary. The Contractor shall submit copies of the insurance policy, certificate of insurance and endorsements to the Owner.