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CITY OF SUNNY ISLES BEACH <br /> r 18070 Collins Avenue <br /> Sunny Isles Beach, Florida 33160 s"" <F • <br /> 305.947.0606 - _ <br /> tti <br /> he a0° 4 <br /> (`irk at SUS ta a <br /> Sub- vendor(s) to furnish to them insurance certificates similar to those required by the <br /> City in this section. <br /> 2.10.1 Cancellation and Re-Insurance: <br /> If any insurance should be canceled or changed by the insurance company or should any <br /> insurance expire during the period of this contract, the Contractor shall be responsible for <br /> securing other acceptable insurance to provide the coverage specified in this section to <br /> maintain coverage during the life of this Contract. All deductibles must be declared by <br /> the Contractor and must be approved by the City. At the option of the City, either the <br /> Contractor shall eliminate or reduce such deductible or the Contractor shall procure a <br /> Bond, in a form satisfactory to the City, covering the same. <br /> 2.11 METHOD OF PAYMENT: PHASED PAYMENTS FOR WORK COMPLETED <br /> The City shall provide partial payments for work completed by the successful vendor during <br /> various phases of the work assignment. The bidder shall provide fully documented invoices, <br /> which indicate, in addition to the basic information set forth below, the time and materials <br /> provided to the City user department(s) that requested the work through a purchase order. It <br /> shall be understood that such invoices shall not be authorized for payment until such time as a <br /> City representative has inspected and approved the completed phase of the work assignment. <br /> The percentage or component of completed work which corresponds to the acceptable payment <br /> schedule shall be as follows: <br /> All invoices shall contain the following basic information: <br /> I. Vendor Information: <br /> • The name of the business organization as specified on the contract <br /> between the City and vendor <br /> • Date of invoice <br /> • Invoice number <br /> • Vendor's Federal Identification Number on file with the City <br /> II. City Information: <br /> • City Purchase Order Number <br /> III. Pricing Information: <br /> • Unit price of the goods, services or property provided <br /> • Extended total price of the goods, services or property <br /> City of Sunny Isles Beach 1 Request for Proposal No 12-10-03 Z12 + r <br />