Common use of Insurance & Bonding Clause in Contracts

Insurance & Bonding. The Subrecipient shall carry sufficient insurance coverage in compliance with the terms in the Manual (Exhibit 1) to protect Contract Agreement assets from loss due to theft, fraud, and/or undue physical damage, and as a minimum shall purchase a blanket fidelity bond covering all employees in an amount equal to cash advances from the City of Providence. Subrecipient shall provide the City of Providence with proof of Commercial General Liability insurance in the amount of one million dollars ($1,000,000) for each occurrence and One Million Dollars ($1,000,000) in the aggregate for bodily injury and property damage, naming the City of Providence, its departments, employees, and/or agents, as additional insureds. The Subrecipient shall also comply with the bonding and insurance requirements of 2 CFR 200.310- Insurance and 2 CFR 200.326, -Bonding. The City of Providence and USDT Recognition The Subrecipient agrees to recognize the role of the City of Providence and USDT in providing assistance pursuant to this Contract Agreement by referencing the support provided in all publications and media efforts that relate to this Program. All activities, facilities and items utilized pursuant to this Contract Agreement shall be prominently labeled as to this funding source. Program Income Program income includes, but is not limited to, income from fees for services performed, the use or rental or real or personal property acquired under Federal awards and principal and interest on loans made with Federal award funds. Program income does not include interest earned on advances of Federal funds, rebates, credits, discounts, or interest on rebates, credits, or discounts. The Subrecipients of SLFRF funds should calculate, document, and record the program income. Additional controls that your organization should implement include written policies that explicitly identify appropriate allocation methods, accounting standards and principles, compliance monitoring checks for program income calculations, and records. The Subrecipient shall comply with The Uniform Guidance outlines the requirements that pertain to program income at 2 CFR 200.307.

Insurance & Bonding. The Subrecipient shall carry sufficient insurance coverage in compliance with the terms in the Manual (Exhibit 1) to protect Contract Agreement assets from loss due to theft, fraud, and/or undue physical damage, and as a minimum shall purchase a blanket fidelity bond covering all employees in an amount equal to cash advances from the City of Providence. Subrecipient shall provide the City of Providence with proof of Commercial General Liability insurance in the amount of one million dollars ($1,000,000) for each occurrence and One Million Dollars ($1,000,000) in the aggregate for bodily injury and property damage, naming the City of Providence, its departments, employees, and/or agents, as additional insureds. The Subrecipient shall also comply with the bonding and insurance requirements of 2 CFR 200.310- Insurance and 2 CFR 200.326, -Bonding. The City of Providence and USDT Recognition The Subrecipient agrees to recognize the role of the City of Providence and USDT in providing assistance pursuant to this Contract Agreement by referencing the support provided in all publications and media efforts that relate to this Program. All activities, facilities and items utilized pursuant to this Contract Agreement shall be prominently labeled as to this funding source. Program Income Program income includes, but is not limited to, income from fees for services performed, the use or rental or real or personal property acquired under Federal awards and principal and interest on loans made with Federal award funds. Program income does not include interest earned on advances of Federal funds, rebates, credits, discounts, or interest on rebates, credits, or discounts. The Subrecipients of SLFRF funds should calculate, document, and record the program income. Additional controls that your organization should implement include written policies that explicitly identify appropriate allocation methods, accounting standards and principles, compliance monitoring checks for program income calculations, and records. The Subrecipient shall comply with The Uniform Guidance outlines the requirements that pertain to program income at 2 CFR 200.307. Equal Employment Opportunity During the performance of this Contract Agreement, the Subrecipient must ensure that no otherwise qualified person shall be excluded from participation or employment, denied program benefits, or be subject to discrimination based on race, color, national origin, sex, age, handicap, religion, or religious preference, under any program or activity funded under this Contract Agreement, as required by Title VI of the Civil Rights Act of 1964, the Fair Housing Act (42 USC §§ 3601-29) and all implementing regulations, and the Age Discrimination Act of 1975, and all implementing regulations. The Subrecipient shall take affirmative action to ensure that applicants for employment are employed, and that employees are treated during employment, without regard to their race, color, religion, sex, or national origin. Such action shall include but not be limited to: employment, upgrading, demotion, or transfer; recruitment or recruitment advertising; layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. Subrecipient shall post in conspicuous places, available to employees and applicants for employment, notices to be provided by the government setting forth the provisions of this non-discrimination clause. The Subrecipient shall state that all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, or national origin.