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HB 2120 ISRS Pre-Qualification Compliance
ISRS pre-qualification requirements
In order to become pre-qualified, the prospective vendor must:
- Have a minimum of seven (7) years’ of natural gas grid replacement, distribution pipeline and/or transmission pipeline experience, or equivalent utility construction experience
- Be licensed to provide the services to be bid, where applicable
- Demonstrate a history of providing exceptional service that meet Spire’s specifications and requirements, including its brand and conduct standards, and provide references upon request.
- Demonstrate financial viability acceptable to Spire, which consists of having a Credit Rating of “BBB-”or better by S&P Global Market Intelligence LLC or its successor ("S&P") or "Baa3" or better by Moody's Investors Service, Inc. or its successor ("Moody’s") or “BBB-“ or better by Fitch Ratings, Inc. or its successor (“Fitch”). "Credit Rating" means with respect to a party or entity, on any date of determination, the respective rating then assigned to its long-term senior unsecured debt (not supported by third party credit enhancements) by either S&P or Moody's or Fitch. In the event of a split rating among S&P/Moody's/Fitch, the lowest rating prevails. If the prospective vendor has no rating at all, it can provide its most recent annual and quarterly financials for evaluation by the company and calculation of an equivalent rating. If the party or entity does not meet these Credit Rating criteria or calculated equivalent, Spire will require adequate assurance of performance consisting of a guarantee from a company which meets the Credit Rating criteria, a deposit, letter of credit or performance bond, in a form which is acceptable to Spire.
- Provide proof of insurance coverage underwritten by Missouri-admitted insurers with an A.M. Best rating of A- or better and Financial Strength Rating of XII or better, with the following coverages
- $25MM/occurrence, $50MM aggregate General Liability
- $10MM/occurrence, $20MM aggregate Automobile Liability
- Statutory Workers’ Compensation
- $10MM/occurrence, $15MM aggregate Pollution
- Subrogation waiver
- Have a current Gas Main and Service Line Agreement with Spire, or be willing to execute Spire’s current form of FSA
- Be a current ISNetWorld subscriber, or be willing to become a subscriber, and maintain a grade of C or higher while performing work for Spire.
- Be Operator Qualified through Energy World Net for all tasks to be performed pursuant to the work to be bid (all field service employees)
- Demonstrate a reputation for safety, integrity and inclusion
- Provide all of its own tools, vehicles, machinery, and IT systems
- Have no outstanding unsatisfied judgments or tax liens
- Business principals must be willing to submit to a background check and have no record of convictions. Business principal is defined as (1) if an LLC, each member, or (2) if a corporation, the officers with responsibility for the relevant market area.