Consulate General of the Republic of Korea in Toronto

The Korean Consulate General Bid Invitation #2025-4

Open Bid Invitation [Property Insurance]

1. Description: Property Insurance of the Consulate General of the Republic of Korea in Toronto and its annexes (2 locations)

- Korean Consulate General and Consul General’s residence

2. Qualification

n Insurance carrier that meets basic eligibility for participation in the bid (refer to Decree Article 12*) and that successfully follows the procedures set out below.

n Insurance carriers with a rating of “A” or above by A.M. Best are preferred.

n Prospective bidders should not be undergoing any legal disputes (including liquidation, M&A, disposal, legal composition, court receivership), as of the date the notice was written.

n Prospective bidders should not have received any legal warnings by the related Government agency within the past year.

3. Registration Due: From Friday, August 29, 2025 to Friday, September 12, 2025 by 11:59 p.m.(EST)

- Email the required documents below to toronto@mofa.go.kr

n Registration form (Attached [Form])

n Brief portfolio (1 Copy including past performances, scale of the company, credit-rate, current references, etc.

n Business License (1 Copy)

n Tenderer’s own contract format (including minimum coverage information)

4. Bidding Result: Monday, September 15, 2025 by 11:59 p.m.(EST)

5. Determining a Successful Tenderer

n Tenderers who presented price more than 47.995% AND equal to or less than budget price USD 30,000.00 shall be examined, in the order of lowest bid.

n The examination on qualification of tenderers will be based on competency, such as past performance, company size, credit rating.

n In the event a successful tenderer fails to meet the qualification standard before signing the contract, or decides to forfeit the contract, a tenderer which scored the next highest grade may be granted the contract pending examination.

n We take the open competitive bidding method. Only bidders which submitted proposal estimate lower than EIR will be reviewed, and after the review the most qualified bidder will be awarded with the project. (Comprehensive factors, including EIR, size of the company, past performances, etc will be considered during review) There might be a possible negotiation process.

6. Expected Investment Range: ( Total ) Under USD 30,000.00

7. Contract Schedule:

n Contract Signing: Within 20 days from the result announcement

• ※If the successful bidder does NOT wish to continue the contract, it is required that the bid deposit (5% of EIR, waived at registration) be paid to the Korean Consulate General (*Decree Article 37, 38).

n Contract period: From the date of contract (1 year)

8. Bidding Invalidation:

n Applicants that do not meet the stated qualifications will not be considered for this bid.

n Applications with insufficient, forged and counterfeit documents will not be considered (*Decree Article 76).

9. Others:

n All bidders are obliged to be fully aware of information specified in bid invitation. The Korean Consulate General is not held responsible for any issues arising from misinterpretation by bidder.

n The Korean Consulate General promotes transparency and fairness in contracts (*Decree Article 5-2), and a successful bidder must sign ‘Pledge to Implement Integrity Pact’ and ‘Confidentiality Agreement’.

n The Korean Consulate General may request bidding deposit and contract deposit according to the *Decree Article 37 and 50.

n Any difference of interpretation would follow the interpretation of the Consulate General.

n For further information, please contact the Consulate General of the Republic of Korea in Toronto (toronto@mofa.go.kr or (+1) 416-920-3809)

* Enforcement Decree of the Act on Contracts to Which the State Is A Party (Korea)

August 28, 2025

the Consulate General of the Republic of Korea in Toronto