Opening of Qualifications - SBFD & MLK GESC Proj No 125-008 - Veregy Energy

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City of South Bend, IN — Department of Public Works '4 1 4 VER EGYV� v GESC: Central Fire Station & MLK Dream Center Solar PV ^ Financial Qualifications INSURANCE/PERFORMANCE BONDING Veregy maintains insurance to protect against claims that may arise during project implementation. The Commercial General Liability Insurance we purchase includes premises- operations (including explosion, collapse, and underground coverage), elevators, independent contractors, completed operations, and blanket contractual liability on all written contracts, all including broad form property damage coverage. Veregy's Commercial General and Automobile Liability Insurance is written for not less than the limits of liability as shown below: Commercial General Liability Combined Single Limit • $1,000,000 each occurrence • $2,000,000 Product and Completed Operations Aggregate • $2,000,000 General Aggregate other than Product and Completed Operations • $1,000,000 Commercial Automobile Liability Combined Single Limit The customer shall purchase and maintain all risk full -cost replacement property insurance. Veregy always maintains Worker's Compensation Insurance in accordance with the laws of the State. Additional insurance coverage, if required, can be provided by Veregy. Bonding Capacity The current surety for Veregy is Sirius Point America Insurance Company, which has an AM Best rating of A- with the financial strength of Class XV. Veregy has the technical expertise, equipment, and labor force to successfully perform projects with a $125,000,000 single and $300,000,000 aggregate bonding program. In the Appendix is a letter from Veregy's bonding agent, Marsh and McLennan Agency, confirming the above. Veregy will provide the City with a Performance and Payment Bond for 100% of the project's total cost upon award. FINANCIAL REPORTS As mentioned in the last section, Veregy's policy pertaining to the attachment of sensitive financial and operating agreements to public documents such as this RFQ is to closely guard them. While we understand the City of South Bend's desire to assure that Veregy is a viable business concern, we must also guard against our competition obtaining these sensitive documents. We offer the following assurances to the City to fulfill this request. 1. We will provide a surety bond for the project equal to 100% of the cost of the project. This bond will protect the City from any deficiency or completion of the project. 2. If being considered by the City of South Bend, Veregy can arrange a private meeting with our CPA firm to review our audited financial statements, operating documents, and lines of credits with the City. 3. We have reference letters from our bonding company and bank indicating our financial strength, and these can be presented upon request. The City of South Bend can be assured that Veregy is a financially viable company that will be providing energy related services for many years to come through our continued dedication to complete customer satisfaction. ism.