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Subcontractor Insurance Agreement
"I need a Subcontractor Insurance Agreement for a large-scale construction project in Manila, Philippines, with specific coverage requirements for heavy machinery and at least 50 subcontractor personnel, ensuring compliance with both local construction regulations and Insurance Commission requirements."
1. Parties: Identifies and defines the Principal Contractor, Subcontractor, and any relevant Insurance Providers
2. Background: Sets out the context of the agreement, including reference to the main contract and need for insurance coverage
3. Definitions: Defines key terms used throughout the agreement, including insurance-specific terminology
4. Insurance Requirements: Details the mandatory types and levels of insurance coverage required from the subcontractor
5. Duration of Coverage: Specifies the timeframe for which insurance must be maintained, including any extension periods
6. Proof of Insurance: Requirements for providing and maintaining valid certificates of insurance and policy documentation
7. Claims Procedure: Process for notifying and handling insurance claims
8. Subcontractor Obligations: General obligations regarding maintenance of insurance and reporting requirements
9. Principal Contractor Rights: Rights of the principal contractor regarding verification and enforcement of insurance requirements
10. Default and Remedies: Consequences of failing to maintain required insurance and available remedies
11. Notices: Procedures for all formal communications between parties
12. Governing Law: Specifies Philippine law as governing law and relevant jurisdiction
13. General Provisions: Standard contract clauses including severability, entire agreement, and amendments
1. Additional Insured Requirements: Specific requirements for naming additional parties as insured, used when project involves multiple stakeholders
2. Industry-Specific Requirements: Additional insurance requirements specific to certain industries (e.g., construction, manufacturing)
3. Cross-Indemnification: Specific indemnification provisions between parties, used in complex projects with multiple risks
4. Insurance Cost Allocation: Provisions for sharing or allocating insurance costs, used when costs are shared between parties
5. Project-Specific Insurance Requirements: Special insurance requirements for specific projects or locations
6. Waiver of Subrogation: Provisions preventing insurers from seeking recovery from other parties, used in complex projects
7. Security Requirements: Additional security or bonding requirements beyond standard insurance
8. Force Majeure: Provisions for handling insurance obligations during extraordinary events
1. Schedule A - Required Insurance Coverage: Detailed list of required insurance types, coverage limits, and deductibles
2. Schedule B - Approved Insurance Providers: List of pre-approved insurance companies acceptable to the principal contractor
3. Schedule C - Certificate of Insurance Requirements: Specific requirements for insurance certificates and endorsements
4. Schedule D - Claims Reporting Forms: Standard forms and procedures for reporting insurance claims
5. Schedule E - Premium Payment Schedule: Timeline and terms for insurance premium payments if relevant
6. Appendix 1 - Insurance Policy Templates: Sample insurance policy formats acceptable to the principal contractor
7. Appendix 2 - Risk Assessment: Detailed risk assessment and corresponding insurance requirements
8. Appendix 3 - Contact Information: Key contacts for insurance-related matters including brokers and claims handlers
Authors
Construction
Manufacturing
Engineering
Infrastructure Development
Energy
Mining
Technology
Telecommunications
Real Estate Development
Industrial Services
Transportation
Utilities
Oil and Gas
Legal
Risk Management
Procurement
Operations
Finance
Compliance
Health and Safety
Commercial
Project Management
Insurance
Contracts Administration
Project Manager
Risk Manager
Legal Counsel
Procurement Manager
Contract Administrator
Insurance Coordinator
Compliance Officer
Operations Director
Site Supervisor
Health and Safety Manager
Chief Financial Officer
Commercial Director
Business Development Manager
Project Engineer
Insurance Manager
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