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Authorized Vendor Agreement
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Insurance Vendor Insurance Resquirements: For consideration of the purchase by Ace Hardware Corporation of vendor's national brand, Ace brand, lumber, building materials and millwork products, vendor agrees to have in full force and effect throughout the term of this agreement insurance coverage of at least the following amounts:
Insurance must be written with a carrier that has an A.M. Best Rating of at least an A- or better. Ace Hardware Corporation and its Retail Customers shall be named as additional insureds on the vendor's insurance policies, except for workers compensation. Should any of these policies be canceled, the vendor will provide Ace Hardware Corporation 30 days written notice of the cancellation. The vendor's insurance coverage shall be considered primary over any other insurance coverage carried by Ace Hardware Corporation and its Retail Customers. Ace Hardware may consider self-insurance as a possible option. An authorized agent of the company shall sign the indemnification and hold harmless provisions of this agreement and provide a financial statement evidencing substantial net worth to Ace.
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