We would like to thank you for your business and loyalty with Denver Water and we look forward to continuing this relationship. We would like to inform you about a new procedure Denver Water is implementing on Jan. 1, 2010. This procedure may affect your company if you have a contract or agreement with us that requires you to carry specific insurance during the contract term.
Our policy requires that the parties we do business with carry specific insurance coverage based on the risks associated with the goods or services being provided. The specific insurance requirement is identified in your contract with Denver Water. We require a certificate of insurance (COl) as proof of this coverage at the inception of the agreement or contract between Denver Water and your company. The COl must remain current until the contract is completed and the final payment is made.
Starting in January, the Finance Division will not process any payments related to a contract or agreement if the COl is not current. Denver Water's contract control section will make every effort to alert you in advance, through our contract administrator, of expirations so you continue to receive your payment when expected. However, the responsibility for compliance remains with your company.
If you have questions, you can contact your contract administrator at Denver Water or our Contract Control at 303-628-6417.
Sincerely,
David B. LaFrance
Director of Finance