Senate Bill sb1600

CODING: Words stricken are deletions; words underlined are additions.
    Florida Senate - 2004                                  SB 1600

    By Senator Sebesta





    16-1027A-04                                             See HB

  1                      A bill to be entitled

  2         An act relating to public construction bonds;

  3         amending s. 255.05, F.S.; providing for a

  4         mandatory form for public construction bonds;

  5         providing an effective date.

  6  

  7  Be It Enacted by the Legislature of the State of Florida:

  8  

  9         Section 1.  Subsections (7), (8), and (9) of section

10  255.05, Florida Statutes, are renumbered as subsections (6),

11  (7), and (8), respectively, and present subsections (3) and

12  (6) of that section are amended to read:

13         255.05  Bond of contractor constructing public

14  buildings; form; action by materialmen.--

15         (3)  The bond required in subsection (1) shall may be

16  in substantially the following form, and any deviation of the

17  bond form required by the public owner or furnished by the

18  contractor shall be disregarded:

19  

20                     PUBLIC CONSTRUCTION BOND

21  

22         BY THIS BOND, We,...(enter name, principal business

23  address, and telephone number of contractor)..., as Principal,

24  and ...(enter name, principal business address, and telephone

25  number of surety)..., a corporation authorized to do business

26  in Florida as a surety insurer, as Surety, are bound to

27  ...(enter name, principal business address, and telephone

28  number of public owner)..., hereinafter herein called Owner,

29  in the sum of $.......(enter contract amount as penal sum of

30  bond)..., for payment of which we bind ourselves and, our

31  

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2004                                  SB 1600
    16-1027A-04                                             See HB




 1  heirs, personal representatives, successors, and assigns,

 2  jointly and severally.

 3  

 4         WHEREAS, Principal has entered into a contract with

 5  Owner for ...(enter description of project sufficient to

 6  identify it, such as a legal description of property, the

 7  street address of property, and a general description of the

 8  improvement to be constructed)..., which is Owner's contract

 9  No. ...(enter contract number)... belonging to ...(enter name,

10  principal business address, and telephone number of owner of

11  property if different from the contracting public entity)...,

12  and

13         WHEREAS, the Bond is given to meet the requirements of

14  Section 255.05, Florida Statutes, and the respective rights

15  and obligations of the Principal, Surety, Owner, and any

16  Claimant shall be controlled by Section 255.05, Florida

17  Statutes, including specifically the notice and time

18  limitation provisions of Section 255.05(2), Florida Statutes.

19         NOW, THEREFORE, THE CONDITION OF THIS BOND is that if

20  Principal:

21         1.  Performs the contract dated ...(enter date of

22  contract)..., ......, between Principal and Owner for

23  construction of ...(the Project)..., the contract being made a

24  part of this bond by reference, at the times and in the manner

25  prescribed in the contract; and

26         2.  Promptly makes payments to all claimants, as

27  defined in Section 255.05(1), Florida Statutes, supplying

28  Principal with labor, materials, or supplies, used directly or

29  indirectly by Principal in the prosecution of the work

30  provided for in the contract; and

31  

                                  2

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2004                                  SB 1600
    16-1027A-04                                             See HB




 1         3.  Pays Owner all losses, damages, expenses, costs,

 2  and attorney's fees, including appellate proceedings, that

 3  Owner sustains because of a default by Principal under the

 4  contract; and

 5         4.  Performs the guarantee of all work and materials

 6  furnished under the contract for the time specified in the

 7  contract, then this bond is void; otherwise it remains in full

 8  force.

 9         Any changes in or under the contract documents and

10  compliance or noncompliance with any formalities connected

11  with the contract or the changes do does not affect Surety's

12  obligation under this bond. In no event shall the liability of

13  the Surety exceed the amount of the bond stated above.

14  

15  DATED ON ....,...(enter date of bond)....

16  

17                                 ...(enter name of Principal)...

18  By ...(enter name of its authorized Officer)... ...(As

19  Attorney in Fact)...

20                                    ...(enter name of Surety)...

21  By ...(its authorized Attorney-in-Fact)...

22  

23         (6)  All bonds executed pursuant to this section shall

24  make reference to this section by number and shall contain

25  reference to the notice and time limitation provisions of this

26  section.

27         Section 2.  This act shall take effect upon becoming a

28  law.

29  

30  

31  

                                  3

CODING: Words stricken are deletions; words underlined are additions.