HomeMy WebLinkAboutSuccessful BidderThe successful bidder shall furnish a Performance Bond, as stipulated on the Special Conditions of this
IFB.
The following specifications shall apply to the bond required:
A. All bonds shall be written through surety insurers authorized to do business in the State of Florida as
surety, with the following qualifications as to management and financial strength according to the
latest edition of Best's Insurance Guide, published by A.M. Best Company, Oldwick, New Jersey:
Bond Amount Best Rating
0 to 500,000 B V
500,001 to 1,500,000 B+ VI
1,500,001 to 2,500,000 A VII
2,500,001 to 5,000,000 A VIII
5,000,000 to 10,000,000 A IX
Over 10,000,000 A+ X
B. Surety insurers shall be listed in the latest Circular 570 of the U.S. Department of the Treasury
entitled "Surety Companies Acceptable on Federal Bonds", published annually. The bond amount
shall not exceed the underwriting limitations as shown in this circular.
C. For contracts in excess of 500,000 the company must have been listed for at least three consecutive
years, or holding a valid Certificate of Authority of at least 1.5 million dollars and on the Treasury List.
D. Surety Bonds guaranteed through U.S. Government Small Business Administration or Contractors
Training and Development inc. will also be acceptable.
E. In lieu of a Performance Bond, an irrevocable letter of credit or a cash bond in the form of a certified
cashier's check made out to the City of Miami will be acceptable. All interest will accrue to the City of
Miami during the life of this contract and as long as the funds are being held by the City.
F. The attorney -in -fact or other officer who signs a contract bond for a surety company must file with
such bond a certified copy of power of attorney authorizing the officer to do so. The contract bond
must be counter signed by the surety's resident Florida agent.
The City of Miami reserves the right to reject any and all security tendered to the City.
The undersigned bidder acknowledges that (s)he has read the above information and agrees to comply
with the above requirements.
Bidder: E+ile.-PrrSt- legsrw1 6111‘940•1
(Company name) A Floriet
Signature:
(sr-f,orc- /7'
Date: 3%ZUl't, Print Name:
FAILURE TO COMPLETE, SIGN, AND RETURN THIS FORM IF REQUIRED SHALL DISQUALIFY THIS BID.
City of Miami Page 47
Bid No. 04.05.104
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