Reso 2014-2292 - Laserfiche WebLink

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City of Sunny Isles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 (305) 947 -0606 phone (305) 949 -3113 Fax the City shall review and either accept or reject the Surety Company based on the financial information available to the City. a. The Surety Company shall have at least the following minimum ratings: Amount of Bond Policyholder's Rating Financial Size Category 100,000 to 1,000,000 B ++ Class V or higher 1,000,001 to 2,000,000 A- Class VI or higher 2,000,001 to 5,000,000 A Class VII or higher b. All Surety Companies are subject to review and approval by the City Manager or his designee and may be rejected without cause. All bonds signed by an Agency must be accompanied by a certificate of authority to act. 6.5 The Surety Company shall submit verification from the 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 7. WARRANTY OF SERVICES 7.1 The Contractor shall warrant that the Services conform to the Agreement and are free of any patent and/or latent defect of the workmanship for the periods established in the Contractor's proposal, attached hereto as Attachment "A ". This warranty shall be in addition to whatever rights the City may have under state or federal law. The Contractor's obligation under this warranty shall be at its own cost and expense, to promptly repair or replace (including cost of removal and installation), that item (or part or component thereof) which proves defective or fails to comply with the Agreement within the warranty period such that it complies with the Agreement. 7.2 Contractor warrants to the City that all materials and equipment furnished under this Agreement will be new unless otherwise specified and will be of good quality, free from faults and defects and in conformance with the Agreement. All equipment and materials not conforming to these requirements, including substitutions not properly approved and authorized, may be considered defective. If required by City or its designee, Contractor shall furnish satisfactory evidence as to the kind and quality of materials and equipment. This warranty is not limited by any other provisions within this Agreement. 7.3 Contractor shall provide to the City or its designee all manufacturers' warranties. All warranties, expressed and /or implied, shall be given to the City for all material and equipment covered by this Agreement. All material and equipment furnished shall be fully guaranteed by the Contractor against factory defects and M