Common use of Qualifications of Surety Clause in Contracts

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. 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 that is also authorized to do business in the State of Florida. Both Bonds 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. 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 Obligeeobligee. 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. 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 Obligeeobligee. 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