9-RFQ Vol. 3c Special Conditions.pdf
PDF 160 KB Posted
- Attached to
- MCT Investment Management Services
- Solicitation number
- 26-1-16001
- Issued by
- Lasalle County, Illinois
About this file
This document is a Special Conditions section for an Investment Management Services contract (No. 26-1-16001) issued by Madison County Transit (MCT), potentially involving funding from the Illinois Department of Transportation (IDOT) and the Federal Transit Administration (FTA). The document outlines specific requirements for a potential contractor, focusing on financial assistance compliance and comprehensive insurance specifications.
The contract requires the selected vendor to maintain multiple types of insurance with specified minimum coverage limits, including $1,000,000 for Commercial General Liability, $1,000,000 for Business Automobile Liability, statutory Workers' Compensation, $500,000 for Employer's Liability, $500,000 for Professional Liability, and $5,000,000 for Cyber Liability. Additionally, the contractor will be required to coordinate service transition with the current vendor, Busey Bank, and must provide a Certificate of Insurance prior to beginning work. The contract is subject to state and federal laws, regulations, and grant agreement terms, with the contractor obligated to avoid any actions that might compromise MCT's grant agreements.
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Text version
Madison County Transit Volume 3 Investment Management Services No. 26-1-16001
Special Conditions
SC 1 Financial Assistance This contract may be partially funded by the Illinois Department of Transportation (IDOT) and the Federal Transit Administration (FTA) and is therefore subject to applicable state and federal laws, executive orders, regulations, and requirements. The Contractor agrees not to perform any act, fail to perform any act, or refuse to comply with any Owner requests that would cause the Owner and MCT to be in violation of the terms and conditions of the grant agreements MCT has with FTA and IDOT for goods or services.
SC 2 Insurance Contractor shall maintain the following types and minimum limits of insurance until the expiration or termination of this contract. Agency for Community Transit and their officials, employees, and agents shall be named as ADDITIONAL INSUREDS.
1) Commercial General Liability Insurance: Occurrence based commercial general liability insurance or equivalent form with a limit of not less than $1,000,000 for each occurrence. If such insurance contains a general aggregate limit, it shall apply separately to this Contract or be no less than two times the occurrence limit.
2) Business Automobile Liability limits shall not be less than $1,000,000 per occurrence for bodily injury and property damage combined.
3) Workers’ Compensation liability limits shall not be less than:
- Workers’ Compensation - Statutory
- Employer’s Liability - $500,000 per occurrence
4) Professional Liability insurance shall not be less than $500,000 covering errors and omissions.
5) Cyber Liability insurance limits shall not be less than $5,000,000 per occurrence.
The Contractor may achieve the required limits and coverage for Commercial General Liability and Automobile Liability through a combination of primary and excess or umbrella liability insurance, provided that such primary and excess or umbrella insurance policies result in the same or greater coverage as those required stated above, and in no event shall any excess or umbrella liability insurance provide narrower coverage than the primary policy. The excess policy shall not require exhaustion of the underlying limits only through actual payment by the underlying insurers.
Prior to beginning work, Contractor shall provide the Owner with a Certificate of Insurance complying with this section and naming the additional insured.
SC 3 Current Vendor The vendor selected for award shall coordinate with the Owner’s current service vendor, Busey Bank, to transition services, as appropriate.
[End of document]
| SC 1 Financial Assistance |
| SC 2 Insurance |
| SC 3 Current Vendor |
File details come from the government source that posted it. Updated .