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In addition to the above minimum qualifications, the Surety Company must meet the following additional qualifications. a. The City will accept a surety bond from a com pany with a rating of B++ or better for bonds up to $1 million, provided, however, that if any Surety Company appears on the watch list that is published quarterly by Intercom of the Office of the Florida Insurance Commissioner, the City shall review and either accept or reject the Surety Company based on the financial information available to the City. A Surety Company that is rejected by the City may be substituted by the bidder with a surety company acceptable to the City, only if the bid amount does not increase. b. The Surety Company shall have at least the following minimum ratings: Amount of Bond 100,000 to 1,000,000 1,000,001 to 2,000,000 2,000,001 to 5,000,000 Policyholder's Ratina B++ A- A Financial Size Category Class V or higher Class VI or higher Class VII or higher c. Surety companies are subject to review and approval by the City and may be rejected without cause. All bonds signed by an Agency must be accompanied by a certificate of authority to act. 15.5 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. 16. SUBCONTRACTOR LIST 16.1 No sub-contracting of any part or portion of this bid will be permitted. 17. BID PROTEST 17.1 Article 8 of Ordinance No. 2000-101 shall govern any protest made by a bidder regarding the award of a contract under this invitation to bid. 17.2 Protest of any City recommendation for an award in response to this bid must be filed with the City Clerk and mailed by the protesting party to all participants involved in this bid within seven (7) days of the City's recommendation for an award or the City's actual award, whichever occurs first. Such protest must be in writing, must state the particular grounds upon which it is based, must include all pertinent documents and evidence, and must be accompanied by a cashier's check in the amount of $250 to reimburse the City for all administrative costs associated with the appeal process. Any grounds not stated shall be deemed waived. 18. CONTRACT AWARD AND EXECUTION 18.1 Until final award of Contract, the City reserves the right to reject any and all Bids, with or without cause; to waive any informality or irregularity; or to accept the Bid which is in the best interest of the City. 07/04 00100-6 SIB