Common use of Contractor shall Clause in Contracts

Contractor shall. 1. Have each of their insurance policies endorsed to provide ten (10) days for non-payment of premium, and; 2. Specify that the policies cannot be canceled, non-renewed, coverage and/or limits reduced or coverage materially altered that can effect Owner without sixty (60) days prior written notice to Owner and the notices required by this paragraph shall be sent by certified mail to Owner; 3. A copy of this signed endorsement must be attached to the Certificate of Insurance. 4. Contractor shall send to the Owner a facsimile copy of the policy cancellation and/or change of policy and conditions notice in this paragraph to the Owner within three (3) business days upon their receipt. § 5.1.2.1 Until such time as the insurance is no longer required by the Owner, Contractor shall provide Owner with renewal or replacement evidence of insurance no less than thirty (30) days before the expiration or replacement of the required insurance. If at any time during the period when insurance is required by this contract, an insurer or surety shall fail to comply with the requirements of this contract, as soon as Contractor has knowledge of any such failure Contractor shall immediately notify Owner and immediately replace such insurance or bond with insurance or bond meeting the contract’s requirements.

Appears in 6 contracts

Samples: Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project, Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project, Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project

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Contractor shall. 1. a. Have each of their insurance policies endorsed to provide ten (10) days for non-payment of premium, and; 2. b. Specify that the policies cannot be canceled, non-renewed, coverage and/or limits reduced or coverage materially altered that can effect Owner without sixty (60) days prior written notice to Owner and the notices required by this paragraph shall be sent by certified mail to Owner; 3. c. A copy of this signed endorsement must be attached to the Certificate of Insurance. 4. d. Contractor shall send to the Owner a facsimile copy of the policy cancellation and/or change of policy and conditions notice in this paragraph to the Owner within three (3) business days upon their receipt. § 5.1.2.1 Until such time as the insurance is no longer required by the Owner, Contractor shall provide Owner with renewal or replacement evidence of insurance no less than thirty (30) days before the expiration or replacement of the required insurance. If at any time during the period when insurance is required by this contract, an insurer or surety shall fail to comply with the requirements of this contract, as soon as Contractor has knowledge of any such failure Contractor shall immediately notify Owner and immediately replace such insurance or bond with insurance or bond meeting the contract’s requirements.

Appears in 4 contracts

Samples: Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project, Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project, Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project

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Contractor shall. 1. a. Have each of their insurance policies endorsed to provide ten (10) days for non-payment of premium, and; 2. b. Specify that the policies cannot be canceled, non-renewed, coverage and/or limits reduced or coverage materially altered that can effect Owner without sixty (60) days prior written notice to Owner and the notices required by this paragraph shall be sent by certified mail to Owner; 3. c. A copy of this signed endorsement must be attached to the Certificate of Insurance. 4. d. Contractor shall send to the Owner a facsimile copy of the policy cancellation and/or change of policy and conditions notice in this paragraph to the Owner within three (3) business days upon their receipt.. the requir surety sha failure Co § 5.1.2.1 Until such time as the insurance is no longer required by the Owner, Contractor shall provide Owner with renewal or replacement evidence of insurance no less than thirty (30) days before the expiration or replacement of the required ed insurance. If at any time during the period when insurance is required by this contract, an insurer or surety shall ll fail to comply with the requirements of this contract, as soon as Contractor has knowledge of any such failure Contractor ntractor shall immediately notify Owner and immediately replace such insurance or bond with insurance or bond meeting the contract’s requirements.

Appears in 1 contract

Samples: Standard Form of Agreement Between Owner and Contractor for a Residential or Small Commercial Project

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