The company shall obtain approval before submitting its offer from a leading reinsurer that meets the conditions stipulated in Article (18) of these regulations, in case of its participation in tenders to obtain insurance covers, and in case the insurance cover of the tender is one which the company does not have a reinsurance treaty that covers the surplus liabilities of its retention or the company can not cede to its reinsurance treaties because of its special conditions, provided that the company completes the cover of its liabilities before the effective date of the insurance coverage in case of winning the tender.