I AM ELECTRIC, INC. - Laserfiche WebLink

Home Browse Search

2.8 LIQUIDATED DAMAGES Failure to complete all the work within the time specified above, including any extension granted in writing by the City, shall obligate the Contractor to pay the City, as liquidated damages and not as a penalty, a minimum amount equal to One Hundred Dollars ($100) for each calendar day of delay in the completion of all the work. The liquidated damages will be defined per project. If any liquidated damages are unpaid by the Contractor, the City shall be entitled to deduct these unpaid liquidated damages from the monies due the Contractor. 2.9 FIRM BID PRICE If the Bidder is awarded a contract under this solicitation, the prices proposed by the Bidder shall remain fixed and firm during the term of the contract, as defined in section 2.5 2.10 PERFORMANCE AND PAYMENT BOND Intentionally omitted. 2.11 DELIVERY & PROTECTION OF MATERIAL AND EQUIPMENT Requirements warrant that lead-times for furnishing of equipment and supplies will need to be considered to accommodate the projects. Due to long fabrication and delivery lead times, Contractor must have equipment and materials on hand to maintain orderly progress of the Work. 2.12 INSURANCE Comprehensive General Liability Insurance General Liability for Bodily Injury & Property Damage with limits of $1,000,000 per occurrence and $2,000,000 annual aggregate on a primary and non-contributory basis, including the City of Sunny Isles Beach as Additional Insured, with a Waiver of Subrogation to the City and a Hold Harmless Agreement. Coverage must be offered in 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 shall specifically include the following with minimum limits not less than those required for Bodily Injury Liability and Property Damage Liability: • Premises and Operation; • Independent Contractors; • Products and/or Completed Operations Hazard; • Broad Form Property Damage; ■ Broad Form Contractual Coverage applicable to this specific Contract, including any hold harmless and/or indemnification agreement. • 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.