Florida League of Cities

Evidence of Vendor Financial Stability (Watch)

HB 1057 (Andrade) and SB 1952 (Albritton) state that agencies who require vendors to demonstrate financial stability during the competitive solicitation process must accept any of the following as evidence of such stability: audited financial statements, documentation of an investment-grade rating from a credit rating agency, or for vendors with annual revenues exceeding $1 billion, a letter issued by the chief financial officer or controller of that vendor. (Taggart)