Common use of QUALIFICATIONS OF SURETY COMPANIES Clause in Contracts

QUALIFICATIONS OF SURETY COMPANIES. In order to be acceptable to the County, a Surety company issuing the Bid Bond, the Performance Bond and the Payment Bond, if called for in these Specifications, shall meet and comply with the following minimum standards: a. Surety must be admitted to do business in the State of Florida and shall comply with the provisions of Florida Statute 255.05. b. Surety must be listed on the U.S. Department of Treasury Fiscal Service, Bureau of Government financial Operations, Federal Register, Part V, latest revision, entitled: “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies”. c. All bonds shall be originals and issued or countersigned by a producing agent with satisfactory evidence of the authority of the person or persons executing such bond shall be submitted with the bond. Attorneys-in-fact who sign Bid bonds or performance/payment bonds must file with such bond a signed, certified copy of their power of attorney to sign such bond. d. The life of the bonds shall extend twelve (12) months beyond the end of the Contract term and shall contain a waiver of alteration to the terms of the Contract, extensions of time and/or forbearance on the part of the County. e. Surety must have financial standing having a rating from A.M. Best Company (or other equivalent rating company) equal to or better than A- Class VI. f. Should the Bid, Payment and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.

QUALIFICATIONS OF SURETY COMPANIES. In order to be acceptable to the County, a Surety company issuing the Bid Bond, the Performance Bond and the Payment Bond, if called for in these Specifications, shall meet and comply with the following minimum standards: a. Surety must be admitted authorized to do business in the State of Florida and shall comply with the provisions of Florida Statute 255.05. b. Surety must be listed on the U.S. Department of Treasury Fiscal Service, Bureau of Government financial Operations, Federal Register, Part V, latest revision, entitled: “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies”. c. All bonds shall be originals and issued or countersigned by a producing agent with satisfactory evidence of the authority of the person or persons executing such bond shall be submitted with the bond. Attorneys-in-fact who sign Bid bonds or performance/payment bonds must file with such bond a signed, certified copy of their power of attorney to sign such bond. d. The life of the bonds shall extend twelve (12) months beyond the end of the Contract term and shall contain a waiver of alteration to the terms of the Contract, extensions of time and/or forbearance on the part of the County. e. Surety must have financial standing having a rating from A.M. Best Company (or other equivalent rating company) equal to or better than A- Class VI. f. Should the Bid, Payment and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.

QUALIFICATIONS OF SURETY COMPANIES. In order to be acceptable to the County, a Surety company issuing the Bid Bond, the Performance Bond Bond, and the Payment Bond, if called for in these Specifications, shall meet and comply with the following minimum standards: a. A. Surety must be admitted to do business in the State of Florida and shall shall, if applicable, comply with the provisions of Florida Statute 255.05. b. B. Surety must be listed on the U.S. Department of Treasury Fiscal Service, Bureau of Government financial Operations, Federal Register, Part V, latest revision, entitled: “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies”. c. C. All bonds shall be originals and issued or countersigned by a producing agent with satisfactory agent. Satisfactory evidence of the authority of the person or persons executing such bond shall be submitted with the bond. Attorneys-in-Attorneys in fact who sign Bid bonds or performance/payment bonds must file with such bond a signed, certified copy of their power of attorney to sign such bond. Agents of Surety companies must list their name, address and telephone number on all Bonds. d. D. The life of the bonds shall extend twelve (12) months beyond the end of the Contract term and shall contain a waiver of alteration to the terms of the Contract, extensions of time time, and/or forbearance on the part of the County. e. E. Surety must have financial standing having a rating from A.M. Best Company (or other equivalent rating company) equal to or better than A- Class VI. f. F. Should the Bid, Payment Payment, and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.A. – E. above. In addition, each surety shall submit a power of attorney and all signatures of the co-sureties representatives shall be notarized. The “lead” surety shall be identified for the purposes of underwriting and claims management. FAILURE TO MEET ANY OF THE REQIREMENTS CONTAINED ABOVE SHALL RESULT IN REJECTION OF THE OFFER.

QUALIFICATIONS OF SURETY COMPANIES. In order to be acceptable to the County, a Surety company issuing the Bid Bond, the Performance Bond and the Payment Bond, if called for in these Specifications, shall meet and comply with the following minimum standards: a. Surety must be admitted to do business in the State of Florida and shall comply with the provisions of Florida Statute 255.05. b. Surety must be listed on the U.S. Department of Treasury Fiscal Service, Bureau of Government financial Operations, Federal Register, Part V, latest revision, entitled: “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies”. c. All bonds shall be originals and issued or countersigned by a producing agent with satisfactory evidence of the authority of the person or persons executing such bond shall be submitted with the bond. Attorneys-in-fact who sign Bid bonds or performance/payment bonds must file with such bond a signed, certified copy of their power of attorney to sign such bond. Agents of Surety companies must list their name, address and telephone number on all Bonds. d. The life of the bonds shall extend twelve (12) months beyond the end of the Contract term and shall contain a waiver of alteration to the terms of the Contract, extensions of time and/or forbearance on the part of the County. e. Surety must have financial standing having a rating from A.M. Best Company (or other equivalent rating company) equal to or better than A- Class VI. f. Should the Bid, Payment and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.

QUALIFICATIONS OF SURETY COMPANIES. In order to be acceptable to the County, a Surety company issuing the Bid Bond, the Performance Bond and the Payment Bond, if called for in these Specifications, shall meet and comply with the following minimum standards: a. Surety must be admitted to do business in the State of Florida and shall shall, if applicable, comply with the provisions of Florida Statute 255.05. b. Surety must be listed on the U.S. Department of Treasury Fiscal Service, Bureau of Government financial Operations, Federal Register, Part V, latest revision, entitled: “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies”. c. All bonds shall be originals and issued or countersigned by a producing agent with satisfactory evidence of the authority of the person or persons executing such bond shall be submitted with the bond. Attorneys-in-Attorneys in fact who sign Bid bonds or performance/payment bonds must file with such bond a signed, certified copy of their power of attorney to sign such bond. Agents of Surety companies must list their name, address and telephone number on all Bonds. d. The life of the bonds shall extend twelve (12) months beyond the end of the Contract term and shall contain a waiver of alteration to the terms of the Contract, extensions of time and/or forbearance on the part of the County. e. Surety must have financial standing having a rating from A.M. Best Company (or other equivalent rating company) equal to or better than A- Class VI. f. Should the Bid, Payment and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.a. – e. above. In addition, each surety shall submit a power of attorney and all signatures of the co-sureties representatives shall be notarized. The “lead” surety shall be identified for the purposes of underwriting and claims management. FAILURE TO MEET ANY OF THE REQIREMENTS CONTAINED ABOVE SHALL RESULT IN REJECTION OF THE PROPOSAL.

QUALIFICATIONS OF SURETY COMPANIES. In order to be acceptable to the County, a Surety company issuing the Bid Bond, the Performance Bond and the Payment Bond, if called for in these Specifications, shall meet and comply with the following minimum standards: a. Surety must be admitted authorized to do business in the State of Florida and shall comply with the provisions of Florida Statute 255.05. b. Surety must be listed on the U.S. Department of Treasury Fiscal Service, Bureau of Government financial Operations, Federal Register, Part V, latest revision, entitled: “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies”. c. All bonds shall be originals and issued or countersigned by a producing agent with satisfactory evidence of the authority of the person or persons executing such bond shall be submitted with the bond. Attorneys-in-fact who sign Bid bonds or performance/payment bonds must file with such bond a signed, certified copy of their power of attorney to sign such bond. d. The life of the bonds shall extend twelve (12) months beyond the end of the Contract term and shall contain a waiver of alteration to the terms of the Contract, extensions of time and/or forbearance on the part of the County. e. Surety must have financial standing having a rating from A.M. Best Company (or other equivalent rating company) equal to or better than A- Class VI.Best f. Should the Bid, Payment and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.

QUALIFICATIONS OF SURETY COMPANIES. In order to be acceptable to the County, a Surety company issuing the Bid Bond, the Performance Bond and the Payment Bond, if called for in these Specifications, shall meet and comply with the following minimum standards: a. Surety must be admitted to do business in the State of Florida and shall comply with the provisions of Florida Statute 255.05. b. Surety must be listed on the U.S. Department of Treasury Fiscal Service, Bureau of Government financial Operations, Federal Register, Part V, latest revision, entitled: “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies”. c. All bonds shall be originals and issued or countersigned by a producing agent with satisfactory evidence of the authority of the person or persons executing such bond shall be submitted with the bond. Attorneys-in-fact who sign Bid bonds or performance/payment bonds must file with such bond a signed, certified copy of their power of attorney to sign such bond. d. The life of the bonds shall extend twelve (12) months beyond the end of the Contract term and shall contain a waiver of alteration to the terms of the Contract, extensions of time and/or forbearance on the part of the County. e. Surety must have financial standing having a rating from A.M. Best Company (or other equivalent rating company) equal to or better than A- Class VI. f. Should the Bid, Payment and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.

QUALIFICATIONS OF SURETY COMPANIES. In order to be acceptable to the County, a Surety company issuing the Bid Bond, the Performance Bond and the Payment Bond, if called for in these Specifications, shall meet and comply with the following minimum standards: a. Surety must be admitted to do business in the State of Florida and shall comply with the provisions of Florida Statute 255.05. b. Surety must be listed on the U.S. Department of Treasury Fiscal Service, Bureau of Government financial Operations, Federal Register, Part V, latest revision, entitled: “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies”. c. All bonds shall be originals and issued or countersigned by a producing agent with satisfactory evidence of the authority of the person or persons executing such bond shall be submitted with the bond. Attorneys-in-fact who sign Bid bonds or performance/payment bonds must file with such bond a signed, certified copy of their power of attorney to sign such bond. Agents of Surety companies must list their name, address and telephone number on all Bonds. d. The life of the bonds shall extend twelve (12) months beyond the end of the Contract term and shall contain a waiver of alteration to the terms of the Contract, extensions of time and/or forbearance on the part of the County. e. Surety must have financial standing having a rating from A.M. Best Company (or other equivalent rating company) equal to or better than A- Class VI. f. Should the Bid, Payment and Performance Bonds be issued by co-sureties, each surety listed on the bond shall meet the requirements in paragraphs a.