RFP 18-04-03 Disaster Debris Monitoring Services Financial Recovery Assistance

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City of Sunny Isles Beach |Request for Proposals Disaster Debris Monitoring No. 18-04-03 13 Consultant fails to furnish the qualifications submittals or fails to execute and deliver the agreement within thirty (30) days of Commission Approval, the City may annul the Award and the bid bond security of the Consultant will be forfeited. 2.8 PERFORMANCE BOND This is a Standby / Pre-Event Agreement. Upon activation of this Agreement by the City, the Consultant will be required to provide the City with a Performance Bond in the amount of 100% of the contract/ Purchase Order value, whichever is greater. Upon activation of a task order by the City, the Contractor will be required to a provide Performance Bond within three (3) calendar days of a written ‘Notice to Proceed’ by the City. Once activated, the Performance Bonds shall be in force for a period of not less than one (1) year from the date of original execution by the Bond Surety. The bond shall be executed by the Contractor and surety company authorized to do business in the State of Florida with an A.M. Best rating of “A -“ (Excellent) or better, which bond shall be conditioned upon the successful completion of all work, labor, services, materials to be provided and furnished, and the payment of all subcontractors, materials and laborers. If the value of the contracted work increases, the Contractor shall be required to provide an updated Performance Bond in an amount equal to the new value . Consultant must include with their proposal response, a letter from their bonding company / surety that guarantees that the proposing firm will be able to provide Performance Bond at the time of an event. Contractors shall factor the annual cost of a Performance Bond into their administrative costs when responding to this proposal. The City will not waive this requirement. 2.9 INSURANCE REQUIREMENTS The Consultant, and its subcontractors, sub-consultants, assignees and suppliers, at its own expense, shall keep in force and at all times maintain during the term of this Agreement: 2.9.1 Comprehensive General Liability Comprehensive General Liability with minimum limits of O ne 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 Comprehensive General Liability policy, without restrictive endorsements, as filed by the Insurance Services Office, and must include: o Premises and Operation o Workers Compensation (Statutory) o Independent Contractors o Products and/or Completed Operations Hazard o Broad Form Property Damage o Broad Form Contractual Coverage applicable to this specific Contract