Pursuant to Section 14 of the Accu-Tech General Terms of Purchase (which are incorporated herein by reference), Accu-Tech requires that Seller procure and maintain, at its sole expense, the following policy or policies of insurance:
- Commercial General Liability Insurance, including Products/Completed Operations coverage, subject to the following minimum coverage limits: $2,000,000 per occurrence and $5,000,000 in the aggregate for bodily injury and property damage. Such policy will be written on an occurrence basis and shall include the following coverage:
A. Contractual Liability for the indemnities provided by Supplier under this contract.
B. Personal Injury Liability.
C. Premises Liability.
D. Broad Form Property Damage Liability.
E. Coverage for punitive or exemplary damages where allowed by applicable law. - Excess Liability Insurance with coverage limits of at least $1,000,000 in addition to the policy above with coverage following the form of the underlying liability insurance policies.
- Accu-Tech Corporation, its divisions, employees, and affiliates shall be named as additional insureds on the above liability insurance policies, which (1) shall be primary over any insurance that Accu-Tech maintains, and (2) shall include provisions for waiver of underwriter’s rights of subrogation in favor of Accu-Tech. Additionally, Seller shall be solely responsible for any policy premiums (including any retrospective or loss-sensitive premiums), deductibles or self-insured retentions on the above policies. The covered territory and jurisdiction for the Commercial General Liability (including Products/Completed Ops) and Excess/Umbrella policies must be Worldwide, and Seller must be identified as a Named Insured on each policy. The types and limits of insurance coverage specified above are minimum requirements and do not limit Seller’s liabilities, or constitute acceptance by Accu-Tech of any responsibility for financial or other liabilities or indemnities in excess of such limits.
- At its expense, Seller shall furnish, or cause to be furnished, to Accu-Tech certificates of insurance certifying the required insurance coverage and, upon request by Accu-Tech, Seller shall furnish, or cause to be furnished, to Accu-Tech copies of insurance policies evidencing the required insurance coverage.
- The required insurance policies must be written by a company licensed to do business in the jurisdiction where the Supplier is located and with an A.M. Best rating of A-VIII or better. Accu-Tech Corporation shall be listed as a certificate holder as follows:
Accu-Tech Corporation
11350 Old Roswell Road, Suite 100
Alpharetta, GA 30009
Attn: Legal / Contracts
- Seller shall not cause any insurance to be cancelled or permit any insurance to lapse. All policies providing coverage hereunder shall contain provisions that no cancellation or material changes in the policies shall become effective except on thirty (30) days written notice thereof to Accu-Tech. If any of the above-described policies are cancelled or materially changed before the expiration date thereof, Seller shall provide Accu-Tech 30 days’ prior written notice of such cancellation or material change or, if the policies are cancelled or materially changed without advance notice to Seller, Seller shall provide notice to Accu-Tech within three (3) business days of Seller’s receipt of notice of such cancellation or material change.