Installation Floater Clause Samples
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Installation Floater a builder’s risk type policy that covers specific type of property during its instillation, is coverage required for highly valued equipment or materials such as compressors, generators, or other machinery that are not covered by the builder's risk policy (IF APPLICABLE).
Installation Floater. The Contractor shall, from the date of commencement of the Work until the completion date, and during any part of the access period that the Contractor is performing work at the premises, purchase, provide and maintain, or cause to be purchased, provided and maintained, at its own expense, an Installation Floater policy insuring not less than the sum of the amount of the Contract Price. The coverage shall be maintained continuously until ten (10) days after the date of the final certificate for payment. The policy shall contain no exclusion for loss or damage caused by the perils of flood or earth movement, including earthquake and will include a waiver of waiver of subrogation in favour of Owner, its trustees, directors, officers, employees, servants, agents, and the Consultant.
Installation Floater. Required for the installation of machinery and/or equipment into an existing structure is required. The coverage shall be "All Risk" coverage including installation and transit for 100 percent of the "installed replacement cost value," covering City as a named insured, with a deductible of not more than Five Thousand Dollars ($5,000.00) each claim.
Installation Floater. REQUIRED At all times during this contract, Contractor agrees to maintain Installation Floater Insurance on a special form basis covering property owned or provided by Contractor. Contractor waives any rights of subrogation against MTS, SDTI, SD&AE, SD&IV, and SDTC, and the policy form must permit and accept such waiver. Contractor hereby releases and holds harmless these entities for any loss or damage to its property.
Installation Floater. Insurance When the contract or agreement does not include construction of, or additions to, above ground building or structures, but does involve the installation of machinery or equipment, Installation Floater Insurance shall be afforded under a per occurrence policy form, policy shall be endorsed and name “Manatee County, a political subdivision of the State of Florida” as an Additional Insured, and include limits not less than: • 100% of the completed value of such addition(s), building(s), or structure(s)
Installation Floater. Contractor shall maintain “All Risk” coverage for construction materials going to the job site, at temporary storage locations, and at the job site.
Installation Floater. The Contractor shall procure and maintain an Installation Floater policy providing coverage to protect the interests of the County, Contractor, sub- contractor(s), architects, and engineers, including property in transit and property on or off-premises, which shall become part of the project.
Installation Floater. Contractor will purchase an “all risk” installation floater policy for the value of the property being installed to the job. The policy will name the City as a loss payee regarding this property until it has been installed or accepted by the City. GENERAL PROVISIONS:
1. A certificate of insurance documenting full compliance with each required coverage will be delivered to the City for approval by the City’s Agent of Record prior to beginning any work under this agreement.
2. The contractor will give notice to the City within 10 days after they receive notice from their carrier of reduction, cancellation, or expiration of the policy.
3. Contractor assumes full responsibility for the safe keeping of all contractor’s or contractor’s employees and subcontractor’s vehicles, tools, equipment & supplies and will not attempt to hold the City of Muscatine responsible for any loss to such property without regard to any actual or alleged negligent acts of either omission on commission on the part of the City of Muscatine, any employee or anyone else acting for or in behalf of the City of Muscatine.
4. Contractor shall be responsible for the safe keeping of all materials & supplies to be used in any job until such material or supplies have been installed or utilized and accepted by the City, and if any of it is damaged or destroyed from any cause the contractor will replace at his own expense. SUBROGATION/HOLD HARMLESS: To the extent that such insurance is in force and collectible and to the extent permitted by law, City and contractor each hereby release & waives all right of recovery against the other or anyone claiming through or under each of them by way of subrogation or otherwise. The City of Muscatine will be held harmless for any claim involving bodily injury to contractor or a any partner or employee of either whether or not workers compensation coverage is in effect.
Installation Floater. An Installation Floater in the amount equal to 100 percent of the completed value of the structure is required when Builder's Risk Insurance is not appropriate and there are materials to be installed. Examples include air conditioning equipment, boilers, processing machinery from manufacturing plants, and similar items. The Installation Floater usually is the only satisfactory method of providing coverage for the installation of expensive equipment in an existing building. Coverage must be written on an ALL risk basis. All deductibles are the responsibility of the Contractor
Installation Floater. (Unless alternative coverage approved by City Attorney) Value of stored material or equipment, listed on Certificates of Payments, but not yet incorporated into the Work