Insurance and Performance Bond. 17.1 The Supplier shall maintain at its sole expense, on a primary basis, and an “occurrence basis”, at all times during the Term, the Insurance Policies. The Insurance Policies shall be evidenced by delivery to the Government of certificate(s) of insurance executed by the insurer(s) listing coverages and limits, expiration dates and terms of the policy or policies and all endorsements, and upon request a certified copy of each policy including all endorsements. Failure to provide acceptable proof of insurance as required by the Government shall entitle the Government to either obtain or maintain the Insurance Policies on your behalf at your sole cost and expense, or to terminate this Agreement without prejudice to any other of the Governments rights or remedies in connection with this Agreement. Amounts of Insurance Policies are set out in Schedule 1.
17.2 The Supplier shall be responsible for the payment of all deductible amounts on the Insurance Policies and shall on request supply to the Government copies of the Insurance Policies and evidence that the relevant premiums have been paid.
17.3 The Supplier shall notify the Government forthwith of any changes to any of the Insurance Policies, or of any claims or potential claims which have arisen to which the insurer(s) of the Insurance Policies may be required to respond.
17.4 The Supplier shall ensure that nothing is done which would entitle the relevant insurer to cancel, rescind or suspend any insurance or cover, or to treat any insurance, cover or claim as voided in whole or part. The Supplier shall use all reasonable endeavours to notify the Government (subject to third party confidentiality obligations) as soon as practicable when it becomes aware of any relevant fact, circumstance or matter which has caused, or is reasonably likely to provide grounds to, the relevant insurer to give notice to cancel, rescind, suspend or void any insurance, or any cover or claim under any insurance in whole or in part.
17.5 The policy clause "Other Insurance" or “Excess Insurance” shall not apply to any insurance coverage currently held by The Government of Bermuda, or to the Government of Bermuda’s Self-Insured Retentions of whatever nature.
17.6 If the Supplier subcontracts any work under this Agreement, Supplier shall ensure that each subcontractor maintains insurance coverage with policy limits of at least the amounts stated in the Insurance Policies.
17.7 The insurance requirements set forth above do not in any...
Insurance and Performance Bond. 9.1 Republic agrees, at Republic's own expense, to carry insurance in the forms and amounts set forth on Exhibit H attached hereto and incorporated herein by this reference. Such policies shall guarantee payment of any final judgment rendered against Republic or City within the coverage provided, irrespective of the financial condition of, or any acts or omission of, Republic. All of said policies shall be subject to the approval of the City attorney.
9.2 Republic shall also secure at its own expense and deliver to the City Manager a twelve (12) month performance bond in the amount of $1,000,000 to secure the full, true and faithful performance of all their terms, obligations and conditions of this Franchise on the part of Republic. Republic shall present said bond together with a certificate from the surety showing payment in full for such bond, to the City Manager prior to the commencement of operations pursuant hereto and provide a one-year renewal and certificate of payment prior to the start of each year of this Franchise. Such performance bond shall also be subject to the approval of the City Attorney.
9.3 In the event of the termination or cancellation of the insurance or bond required hereunder or the failure of Republic to provide the insurance and/or bond as hereinabove provided, prior to the effective date of such cancellation or termination, this Franchise may be suspended or terminated forthwith by City, by written notice thereof to Republic. Any such suspension shall be for such period or periods as the City Manager from time to time may determine. No liability or obligation shall be incurred by City in favor of Republic by virtue of any such notice or notices or from any such suspension or termination. In the event of such suspension or termination by City upon the failure of Republic to secure and maintain on file said insurance and/or bond during the full term of this Franchise, Republic shall be liable for any and all damages suffered by City arising out of such suspension or termination.
Insurance and Performance Bond. A. Without limiting CONTRACTOR’S indemnification, CONTRACTOR shall maintain in force at all times during the term of this Agreement and any extensions or modifications thereto, insurance as specified in Exhibit B. It is the responsibility of CONTRACTOR to notify its insurance advisor or insurance carrier(s) regarding coverage, limits, forms and other insurance requirements specified in Exhibit B. It is understood and agreed that COUNTY shall not pay any sum to CONTRACTOR under this Agreement unless and until COUNTY is satisfied that all insurance required by this Agreement is in force at the time services hereunder are rendered. Failure to maintain insurance as required in this agreement may be grounds for material breach of contract.
B. Prior to June 30, 2022 (or the first day of collection by CONTRACTOR), CONTRACTOR shall secure, and maintain throughout the term of this Agreement, a Performance Bond in the amount of one million ($1,000,000), in the event of the CONTRACTOR’s failure to perform. The Performance Bond shall be a corporate surety bond to the benefit of the COUNTY. The Performance Bond shall be executed by a surety company authorized to do business in the State of California and listed in the current Federal Department of Treasury Circular 570.
Insurance and Performance Bond. The Consultant shall maintain for the duration of this Agreement, including warranty period, insurance purchased from a company or companies lawfully authorized to do business in the state of Illinois and having a rating of at least A-minus and a class size of at least X as rated by A.M. Best Ratings and a performance bond. Such insurance will protect the Consultant from claims set forth below which may arise out of or result from the Consultant’s operations under the contract and for which the Consultant may be legally liable, whether such operations be by the Consultant or by a Subcontractor or by anyone directly or indirectly employed by any of them, or by anyone for whose acts any of them may be liable:
Insurance and Performance Bond a. Waste Away Systems shall maintain at its own cost and expense the following minimum limits of occurrence-based insurance during the term of this Agreement
A. Worker’s Compensation Statutory B. Employer’s Liability $500,000 C. Comprehensive General Liability $1,000,000 per occurrence $2,000,000 aggregate
D. Automobile Liability (owned and non-owned)
i. Bodily Injury $1,000,000 per occurrence
ii. Property Damage Liability $500,000 per occurrence
E. Excess / Umbrella $500,000 per occurrence The Village, its elected and appointed officials and employees, shall be included as additional insured parties under the CGL, Automobile and Excess/Umbrella coverages. Prior to commencement of the Service, Waste Away Systems shall deliver to Village a certificate of insurance evidencing the required coverages. This certificate shall provide that any change restricting or reducing coverage, or the cancellation of any policies under which certificates are issued, shall not be valid unless at least 30 days' written notice of change or cancellation is provided.
Insurance and Performance Bond
