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FIFTH ASSET, INC. dba DEBTBOOK
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FIFTH ASSET, INC. dba DEBTBOOK
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Last modified
8/8/2024 3:38:59 PM
Creation date
6/15/2022 12:27:10 PM
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Contracts
Company Name
FIFTH ASSET, INC. dba DEBTBOOK
Contract #
N-2022-171
Agency
Finance & Management Services
Expiration Date
5/14/2023
Insurance Exp Date
11/1/2024
Destruction Year
2028
Notes
For Insurance Exp. Date see Notice of Compliance
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ability to pay losses and related investigations, claim administration, and defense expenses within the <br />retention. The policy language shall provide, or be endorsed to provide, that the self -insured retention may be <br />satisfied by either the named insured or Customer. <br />6. Acceptability of Insurers. Insurance is to be placed with insurers authorized to conduct <br />business in the state with a current A.M. Best's rating of no less than A:VII, unless otherwise acceptable to <br />Customer. <br />Claims Made Policies. If any of the required policies provide coverage on a claims -made basis: <br />a. The Retroactive Date must be shown and must be before the date of the contract or <br />the beginning of contract work. <br />b. Insurance must be maintained and evidence of insurance must be provided for at <br />least five (5) years after completion of the contract of work. <br />C. If coverage is canceled or non -renewed, and not replaced with another claims -made <br />policy form with a Retroactive Date prior to the contract effective date, DebtBook <br />must purchase "extended reporting" coverage for a minimum of five (5) years after <br />completion of contract work. <br />8. Verification of Coverage. DebtBook shall furnish Customer with original Certificates of <br />Insurance including all required amendatory endorsements (or copies of the applicable policy language <br />effecting coverage required by this clause) and a copy of the Declarations and Endorsement Page of the CGL <br />policy listing all policy endorsements to Customer before work begins. However, failure to obtain the required <br />documents prior to the work beginning shall not waive DebtBook's obligation to provide them. Customer <br />reserves the right to require complete, certified copies of all required insurance policies, including <br />endorsements required by these specifications, at any time. <br />9. Subcontractors. DebtBook shall require and verify that all subcontractors maintain insurance <br />meeting all the requirements stated herein, and Contractor shall ensure that Customer is an additional insured <br />on insurance required from subcontractors. <br />10. Special Risks or Circumstances. Customer reserves the right to modify these requirements, <br />including limits, based on the nature of the risk, prior experience, insurer, coverage, or other special <br />circumstances. <br />Survival. Notwithstanding anything in the Terms & Conditions to the contrary, these Customer Terms will, to <br />the extent applicable, survive any termination or expiration of the Agreement. <br />
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