Bonding
and Insurance Coverage Letter
Note: The grantee will submit
the following statement to the HCOF program
office. The document may be modified as necessary
to meet the specific conditions of the project.
Statement of Assurance of Grantee’s
and Contractor’s Bonding
and Insurance Coverage
I hereby certify that (name of contractor)
has been selected to construct (describe
project) in accordance with the Owner/Contractor
Agreement signed and executed on (date).
I further certify that (name of contractor)
is providing appropriate insurance and
bonding coverage for this project in accordance
with HRSA/HCOF program office requirements
and as further described:
- Performance Bond – 100 percent
of the contract sum.
- Payment (Labor and Material) –
100 percent of the contract sum.
- Comprehensive General Liability Insurance:
$ 500,000 per occurrence (minimum).
- Property Damage Liability Insurance:
(amount to be established by the grantee).
- Automobile Liability Insurance: at
least $ 200,000 per person and $ 500,000
per occurrence for bodily injury and
$ 20,000 per occurrence for property
damage.
- Inclusion of the subcontractors’
activities within the contractor’s
own policy, otherwise each subcontractor
must maintain the same levels of insurance
under separate policy for the life of
the subcontract.
I further certify that (name of grantee)
maintains sufficient liability and property
insurance against claims that may arise
from operations under the construction
contract, as well as sufficient property
insurance covering the entire work at
the site to the full insurable value.
This insurance includes the interests
of (name of grantee), (name of contractor),
and the subcontractors involved in the
work.
________________________________________
(Signature of grantee’s authorized
representative) |
___________________
(Date) |
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