Common use of Installation Floater Clause in Contracts

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. 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 's Agent of Record prior to beginning any work under this agreement. 2. The contractor 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 's or contractor’s 's employees and subcontractor’s '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 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.