My First Tender

starterupper

Registered User
Messages
4
Hi all,

I am applying for my first tender and it mentions professional indemnity insurance.

The thing is, I am also currently applying for permanent PAYE jobs.

So I don't want to invest any more money than necessary in the tendering process as I may end up back in a PAYE job.

Should I say I have the insurance and just buy it if and when I win the tender?

Thanks.
 
You should probably submit for a quotation to a PI company or broker first and a:> Make sure you can obtain PI cover for the level they are looking for & b:> Factor in the cost to your over all costs. Not much point accepting the tender and then finding out your insurance is €4k and you can't afford it. Once you have an indication you could submit and take out the policy if you get the tender.
 
thanks! I'll follow that advice.
I checked and it's a reasonable amount, a few hundred euro. Still, no point spending it unless I get the tender.
 
thanks! I'll follow that advice.
I checked and it's a reasonable amount, a few hundred euro. Still, no point spending it unless I get the tender.

Like jimbobp has said, arrange for the insurance and have the quote valid through the period that you will get notification of winning the tender. If you win, just buy it.

I am in a similar situation myself. I have a job with somebody and received a contract. There is a PI clause in there also. I asked to have it taken out as I didn't have any PI. Client has no problem with that because the project isn't really that complex or large scale.

If you are also applying for PAYE jobs then surely the tender is going be fulfilled by just you, meaning it can't really be that complex, is that the case?

Also, if you don't mind, can you please forward me the details of the broker/provider where you got that quote.

Thanks.
 
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