ITB 21-08-01 Utility Undergrounding Golden Shores (final)

Home Browse Search

City of Sunny Isles Beach | Invitation to Bid No. 21-08-01 12 The City of Sunny Isles Beach shall require the successful Bidder to furnish a Performance Bond and Payment Bond in the amount of 100% of the total Bid Price, with the City of Sunny Isles Beach as the Obligee, as security for the faithful performance of the Contract and for the payment of all persons performing labor or furnishing materials in connection herewith within ten (10) calendar days after issuance of the Notice of Award by the City. The Performance and Payment Bond shall continue in effect through the contract term. The bonds shall be with a surety company authorized to do business in the State of Florida and having been in business with a record of successful continuous operation for at least five (5) years. The Performance Bond shall guarantee all work and materials furnished under the Contract including losses resulting from defects in the materials or improper performance of Work under the Contract that may appear or be discovered during performance of the Work or during any applicable warranty period after completion of all Work, and for latent defects, during the time periods set forth in section 95.11(3)(c), Florida Statutes. The Payment Bond shall stay in effect until the time required by section 255.05, Florida Statutes, for the making of claims under such Bond, or when all claimants submitting valid claims have been paid, whichever INSURANCE 2.8.1 Comprehensive General Liability Insurance Comprehensive General Liability with minimum limits of five million dollars ($5,000,000.00) per occurrence for Bodily Injury and Property Damage Liability. Coverage must be afforded on a form no more restrictive than the latest edition of the Comprehensive General Liability policy, without restrictive endorsements, as filed by the Insurance Services Office, and must include: o Premises and Operation o Independent Contractors o Products and/or Completed Operations Hazard o Broad Form Property Damage o Professional Liability o Broad Form Contractual Coverage applicable to this specific contract, including any hold harmless and/or indemnification agreement. o Personal Injury Coverage with employee and Contractual Exclusions removed, with minimum limits of coverage equal to those required for Bodily Injury Liability and Property Damage Liability. Business Automobile Liability with minimum limits of one million dollars (1,000,000.00) per occurrence combined single limit for Bodily Injury Liability and Property Damage Liability. Coverage must be afforded on a form no more restrictive than the latest edition of the Business Automobile Liability policy, without restrictive endorsements, as filed by the Insurance Services Office, and must include: