INSURANCE AND CONTRACT SECURITY. 13.1 Delete Part 11 INSURANCE AND CONTRACT SECURITY and replace with the following:
INSURANCE AND CONTRACT SECURITY. G.C. 11.1
INSURANCE AND CONTRACT SECURITY. GC11.1 INSURANCE (including the heading) is deleted in its entirety and replaced as follows:
INSURANCE AND CONTRACT SECURITY. 13.1 Contractor shall maintain insurance in amounts no less than those set forth below in full force and effect at all times until the Work has been completed, and shall provide a certificate evidencing such coverage promptly following City’s request there for. COVERAGES LIMITS OF LIABILITY Workmen's Compensation Insurance or self insurance, including Employer's Liability Statutory Commercial General Liability Insurance $5,000,000 Per Occurrence $5,000,000 Aggregate Comprehensive Automobile Liability Insurance $5,000,000 Combined Single Limit Builder’s Risk 100% of Value of Project Professional Liability/Errors and Omissions The above limits may be obtained through primary and excess policies, and may be subject to self-insured retentions. City shall also maintain insurance coverage, of the types and in the amounts customary for the conduct of its business, throughout the term of this Attachment. Until the project is completed and accepted by the City, the Contractor is required to maintain Builder's Risk Insurance (fire and extended coverage) on a one hundred percent (100%) of the value of this Attachment C for the benefit of the City, the Contractor and subcontractor, as their interests may appear. To the extent Contractor incurs additional costs, the parties will work to agree on a Change Order.
13.1.1 The City shall be named as an Additional Insured, but only with respect to liability arising out of this contract regarding operations performed for them by or on behalf of Contractor, on all of the Contractor's Insurance policies, with the exception of Workers' Compensation Insurance, required by this Contract. All of the Contractor's Insurance Policies shall remain in effect until final payment and at all times thereafter when the Contractor may be correcting, removing or replacing defective work in accordance with Section 7.
INSURANCE AND CONTRACT SECURITY. SCC 11.1
INSURANCE AND CONTRACT SECURITY. The Supplier shall procure and maintain the insurance policies as required by law and reasonably requested by Xxxxx at its own expense with an insurer mutually agreeable to Buyer and shall not cancel or make any material change to such insurance policies without the prior written consent of Buyer. Within 30 days of the parties executing this Contract, the Buyer shall provide a letter of credit equal to 70 percent of the Contract Price, which shall be maintained until 70 percent of the Contract Price has been paid. Such letter of credit shall be substantially in the form attached hereto as Schedule “A”, with the applicable information correctly inserted. (only keep this section when BUYER negotiates DIFFERENT PAYMENT TERMS and they would prefer/suggest letter of credit [LOC])
INSURANCE AND CONTRACT SECURITY
