OCIP or CCIP Sample Clauses
The OCIP or CCIP clause defines the requirements and responsibilities related to insurance coverage provided under an Owner Controlled Insurance Program (OCIP) or Contractor Controlled Insurance Program (CCIP). This clause specifies whether the project owner or the contractor will procure and maintain insurance for the project, detailing the types of coverage, limits, and parties included. For example, under an OCIP, the owner secures insurance for all contractors and subcontractors on a project, while under a CCIP, the contractor does so. The core function of this clause is to clarify who is responsible for obtaining insurance, thereby preventing gaps in coverage and reducing disputes over liability during the course of the project.
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OCIP or CCIP. Owner may elect to implement an Owner Controlled Insurance Project (OCIP) designed to encompass the insurance requirements of this subsection. Any Contractor Controlled Insurance Project (CCIP) implemented by Construction Manager will be subject to agreement by the parties and shall encompass the requirements of this subsection.
OCIP or CCIP. Borrower may provide the Commercial General and Umbrella Liability and Workers Compensation and Employers Liability required to be carried pursuant to the liability requirements stated above, through the purchase of a Wrap-up or Owner Controlled Insurance Program. This program shall provide coverage for all parties engaged in construction operations at the Project with limits approved by Lender.