Qualifications of Surety. All bonds shall be duly executed by a responsible corporate surety listed in the current version of the United States Department of the Treasury circular entitled "Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies," admitted by the State of California Department of Insurance to do business in the State of California and acceptable to District. Only bonds executed by admitted surety insurers as defined in Code of Civil Procedure section 995.120 shall be accepted. Surety must be a California-admitted surety and listed by the U.S. Treasury with a bonding capacity in excess of the Project costs.
Qualifications of Surety. 46.3.1 A Performance Bond and separate Payment Bond shall be executed by a surety company shown on the United States Treasury approved list of companies and also authorized to do business in the State of Florida. Both Bonds shall show the City as Obligee.
46.3.2 The surety company shall have at least the following minimum ratings in the latest version of A.M. Best’s Insurance Report: Amount of Bond Policyholder’s Ratings Best’s Financial Size Category 500,001 to 1,000,000 B+ Class I 1,000,001 to 2,000,000 B+ Class II 2,000,001 to 5,000,000 A Class III 5,000,001 to 10,000,000 A Class IV 10,000,001 to 25,000,000 A Class V 25,000,001 to 50,000,000 A Class VI 50,000,001 or more A Class VII
Qualifications of Surety. Such Bonds shall be in effect for one (1) year after completion and acceptance of the Project with liability equal to one hundred ten percent (110%) of the Contract price, or an additional Bond shall be conditioned that the Contractor shall, upon notification by the City, correct any defective or faulty work or materials which appear within one (1) year after completion of the Contract.
Qualifications of Surety. 16.3.1 Each bond must be executed by a surety company of recognized standing, authorized to do business in the State of Florida as surety, having a resident agent in the State of Florida, and having been in business with a record of successful continuous operation for at least five years.
Qualifications of Surety. 16.3.1 Each bond must be executed by a surety company of recognized standing, authorized to do business in the State of Florida as surety, having a resident agent in the State of Florida, and having been in business with a record of successful continuous operation for at least five years.
16.3.2 The surety company shall hold a current certificate of authority as acceptable surety on federal bonds in accordance with United States Department of Treasury Circular 570, Current Revisions. If the amount of the Bond exceeds the underwriting limitation set forth in the circular, in order to qualify, the net retention of the surety company shall not exceed the underwriting limitation in the circular, and the excess risks must be protected by coinsurance, reinsurance, or other methods in accordance with Treasury Circular 297, revised July 1, 1997 (31 C.F.R. Section 223.10, Section 223.111). Further, the surety company shall provide County with evidence satisfactory to County that such excess risk has been protected in an acceptable manner.
16.3.3 The surety company shall hold a current Certificate of Authority with the Florida Office of Insurance Regulation.
16.3.4 The surety company shall have at least the following minimum ratings: In performing its obligations hereunder, Contractor shall be deemed an independent contractor and not an agent or employee of the County. Contractor shall be solely responsible for and have control over construction means, methods, techniques, sequences and procedures and for coordinating all portions of the Work under this Agreement, unless the Contract Documents give other specific instructions concerning these matters.
Qualifications of Surety. 1) Each bond must be executed by a Surety company of recognized standing, authorized to do business in the State of Florida as Surety, having a resident agent in the State of Florida and having been in business with a record of successful continuous operation for at least five (5) years. Each Surety shall submit verification from the Florida Department of Insurance Office of the Treasurer stating the surety company’s license and certificate of authorization to do business in the State of Florida.
2) The Surety Company shall hold a current certificate of authority as acceptable Surety on federal bonds in accordance with United States Department of Treasury Circular 570, Current Revisions. If the amount of the Bond exceeds the underwriting limitation in the circular, and the excess risks must be protected by coinsurance, reinsurance, or other methods in accordance with Treasury Circular 297, revised September 2, 1978 (31 DFR Section 223.10, Section 223.111). Further, the Surety company shall provide the District with evidence satisfactory to the District, that such excess risk has been protected in an acceptable manner.
3) The District will accept a Surety bond from a company with a rating of B+ or better for bonds up to $2 million, provided, however, that if any Surety company appears on the watch list that is published quarterly by Intercom of the Office of the Florida Insurance Commissioner, the District shall review and either accept or reject the Surety company based on the financial information available to the District. A Surety company that is rejected by the District may be substituted by the Bidder with a Surety company acceptable to the District, only if the bid amount does not increase.
a. Bonds executed by an Attorney-in-Fact on behalf of the Surety, shall have affixed thereto a certified and current copy of Power of Attorney, indicating the monetary limit of such power.
Qualifications of Surety. 10.2.1 Each bond must be executed by a surety company of recognized stand ing, authorized to do business in the State of Florida as surety, having a resident agent in the State of Florida and having been in business with a record of continuous operation for at least five (5) years.
10.2.2 The surety company shall hold a current certificate of authority as acceptable surety on federal bonds in accordance with United States Department of Treasury Circular 570, Current Revisions. If the amount of the Bond exceeds the underwriting limitation set forth in the circular, in order to qualify, the net retention of the surety company shall not exceed the underwriting limitation in the circular, and the excess risks must be protected by coinsurance, reinsurance, or other methods in accordance with Treasury Circular 297, revised September 1, 1978 (31 DFR Section 223.10, Section 223.111). Further, the surety company shall provide COUNTY with evidence satisfactory to COUNTY, that such excess risk has been protected in an acceptable manner.
10.2.3 The COUNTY will accept a surety bond from a company with a rating of A- or better for bonds up to $2 million, provided, however, that if any surety company appears on the watch list that is published quarterly by Intercom of the Office of the Florida Insurance Commissioner, the COUNTY shall review and either accept or reject the surety company based on the financial information available to the COUNTY. A surety company that is rejected by the COUNTY may be substituted by the bidder or proposer with a surety company acceptable to the COUNTY, only if the bid amount does not increase. The ratings of Surety shall correspond to the amount of bonds as follows. $500,001 to $1,000,000 A- Class I $1,000,001 to $2,000,000 A- Class II $2,000,001 to $5,000,000 A Class III $5,000,001 to $10,000,000 A Class IV $10,000,001 to $25,000,000 A Class V $25,000,001 to $50,000,000 A Class VI $50,000,001 or more A Class VII
Qualifications of Surety. 14.2.1 Each bond must be executed by a surety company in recognized standing, authorized to do business in the State of Florida as surety, having a resident agent in the State of Florida and having been in business with a record of successful continuous operation for at least five years.
14.2.2 The Surety Company shall hold a current certificate of authority as acceptable surety on federal bonds in accordance with United States Department of Treasury Circular 570, Current Revisions. If the amount of the Bond exceeds the underwriting limitation set forth in the circular, in order to qualify, the net retention of the surety company shall not exceed the underwriting limitation in the circular, and the excess risks must be protected by coinsurance, reinsurance, or other methods in accordance with Treasury Circular 297, revised September 1, 1973 (31 DFR Section 223.10, Section 223.111). Further, the Surety Company shall provide CITY with evidence satisfactory to CITY, that such excess risk has been protected in an acceptable manner.
Qualifications of Surety. The surety must be licensed to conduct business in the state of Texas. A surety that provides a letter of credit must be a financial institution whose long- term debt is rated in one of the three highest categories by a nationally recognized rating agency (e.g. Standard & Poor's rating of AAA, AA or A). A surety that provides a bond or other alternate form of performance guarantee in lieu of an irrevocable standby letter of credit must conform with all applicable Texas and federal statutory requirements for sureties.
Qualifications of Surety. Each Bond must be executed by a surety company of recognized standing, authorized to do business in the State of Florida as surety, having a resident agent in the State of Florida and having been in business with a record of successful continuous operation for at least five
