Common use of Financial Ability, Insurance and Bonds Clause in Contracts

Financial Ability, Insurance and Bonds. Contractor is financially solvent and possesses or is able to engage sufficient working capital to complete the Work as required by this Agreement. Contractor’s insurance policies and bonds are and will be maintained in the form required under and for Owner’s Requirements of Insurance (Exhibit 1) and Contractor’s Bond Forms (Exhibit 2). Contractor’s insurance policies contain no exclusions or exceptions to coverage other than what is provided in or equivalent to the standard forms published for such policies of insurance by Insurance Service Office, Inc. (ISO).