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`,'-of stm r" <br />If any insurance should be canceled or changed by the insurance company or should any <br />insurance expire during the period of this contract, the Contractor shall be responsible for <br />securing other acceptable insurance to provide the coverage specified in this section to <br />maintain coverage during the life of this Contract. All deductibles must be declared by <br />the Contractor and must be approved by the City. At the option of the City, either the <br />Contractor shall eliminate or reduce such deductible or the Contractor shall procure a <br />Bond, in a form satisfactory to the City, covering the same. <br />2.10 MONTHLY INVOICES PAYMENTS <br />Cut -off date is the close of the last business day of the month. Vendor shall submit by the 10th <br />day of the following month vendor's completed Statement of Services /Invoice. Should the 10th <br />fall on a weekend or holiday, Contractor shall submit his application on the next workday. <br />Vendor is advised that processing of invoices must follow this schedule, as the City has funding <br />requirements and other payment obligations which may prevent payment of late Statement of <br />Services for that month's billing cycle. A late Statement of Services with a recommendation for <br />payment will be paid in the next month's billing cycle. <br />2.11 FEDERAL AND STATE REGULATIONS <br />The successful Proposer shall comply with all federal, state and local rules and regulations would <br />apply to operating a similar type of business. Special attention must be paid to the regulations <br />outlined by the State of Florida, Department of Professional and Business Regulation, Division of <br />Hotels and Restaurants. <br />END OF SECTION <br />City of Sunny Isles Beach I Request for Proposal No. 12 -06 -02 <br />