Created : March 02, 2014 at 06:40 PM
December 17, 2013
Status:
Open Agenda
Approve the request to waive the requirement for Owner's and Contractor's Protective Liability Insurance (OCP), Article 9.02 in the Open End Agreements dated September 21, 2004 and August 27, 2008 and accept a credit in the amount of $7,362 for the specified projects, as indicated in Attachment 1.
The contractor provided all insurance coverages required during the construction phase of the work with the exception of OCP. The specified projects are complete and OCP cannot be obtained for the completed projects. As agreed, the contractor will provide SBBC a credit for the amount of the premium that would have been payable for the omitted coverage and the contractor remains liable for claims under its indemnification agreement under the agreements.
There is a positive financial impact to the District. The retainage held for the specified projects, as indicated in Attachment 1, will be adjusted by this credit in the amount of $7,362. These funds will be placed in the Capital Projects Reserve.
Requested Action
Approve the request to waive the requirement for Owner's and Contractor's Protective Liability Insurance (OCP), Article 9.02 in the Open End Agreements dated September 21, 2004 and August 27, 2008 and accept a credit in the amount of $7,362 for the specified projects, as indicated in Attachment 1.
Summary
The contractor provided all insurance coverages required during the construction phase of the work with the exception of OCP. The specified projects are complete and OCP cannot be obtained for the completed projects. As agreed, the contractor will provide SBBC a credit for the amount of the premium that would have been payable for the omitted coverage and the contractor remains liable for claims under its indemnification agreement under the agreements.
School Board Goals
| Goal 2: Continuous Improvement |
Financial Impact
There is a positive financial impact to the District. The retainage held for the specified projects, as indicated in Attachment 1, will be adjusted by this credit in the amount of $7,362. These funds will be placed in the Capital Projects Reserve.
Source of Additional Information
Sonja Coley 754 321-1520
Associated File Attachments
