Common use of Course of Construction Clause in Contracts

Course of Construction. Completed value of the Project. {applies to “New” construction} Any deductibles or self-insured retentions must be declared to and approved by SHA. At the option of SHA, either: the insurer shall reduce or eliminate such deductibles or self-insuranced retentions as respects SHA, its officers, officials, employees, Commissioners and volunteers; or the Contractor shall provide a financial guarantee satisfactory to SHA guaranteeing payment of losses and related investigations, claims administration and defense expenses.