Senate Bill sb1986
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2003 SB 1986
By Senator Sebesta
16-1106-03 See HB 485
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.
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7 Be It Enacted by the Legislature of the State of Florida:
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9 Section 1. Subsections (3) and (6) of section 255.05,
10 Florida Statutes, are amended to read:
11 255.05 Bond of contractor constructing public
12 buildings; form; action by materialmen.--
13 (3) The bond required in subsection (1) shall may be
14 in substantially the following form, and any deviation of the
15 bond form required by the public owner or furnished by the
16 contractor shall be disregarded:
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18 PUBLIC CONSTRUCTION BOND
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20 BY THIS BOND, We,...(enter name, principal business
21 address, and telephone number of contractor)..., as Principal,
22 and ...(enter name, principal business address, and telephone
23 number of surety)..., a corporation authorized to do business
24 in Florida as a surety insurer, as Surety, are bound to
25 ...(enter name, principal business address, and telephone
26 number of public owner)..., hereinafter herein called Owner,
27 in the sum of $...(enter contract amount as penal sum of
28 bond)..., for payment of which we bind ourselves and, our
29 heirs, personal representatives, successors, and assigns,
30 jointly and severally.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2003 SB 1986
16-1106-03 See HB 485
1 WHEREAS, Principal has entered into a contract with
2 Owner for ...(enter description of project sufficient to
3 identify it, such as a legal description of property, the
4 street address of property, and a general description of the
5 improvement to be constructed)..., which is Owner's contract
6 No. ...(enter contract number)... belonging to ...(enter name,
7 principal business address, and telephone number of owner of
8 property if different from the contracting public entity)...,
9 and
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11 WHEREAS, the Bond is given to meet the requirements of
12 section 255.05, Florida Statutes, and the respective rights
13 and obligations of the Principal, Surety, Owner, and any
14 Claimant shall be controlled by section 255.05, Florida
15 Statutes, including specifically the notice and time
16 limitation provisions of section 255.05(2), Florida Statutes.
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18 NOW, THEREFORE, THE CONDITION OF THIS BOND is that if
19 Principal:
20 1. Performs the contract dated ...(enter date of
21 contract)..., ...., between Principal and Owner for
22 construction of ...the Project..., the contract being made a
23 part of this bond by reference, at the times and in the manner
24 prescribed in the contract; and
25 2. Promptly makes payments to all claimants, as
26 defined in Section 255.05(1), Florida Statutes, supplying
27 Principal with labor, materials, or supplies, used directly or
28 indirectly by Principal in the prosecution of the work
29 provided for in the contract; and
30 3. Pays Owner all losses, damages, expenses, costs,
31 and attorney's fees, including appellate proceedings, that
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2003 SB 1986
16-1106-03 See HB 485
1 Owner sustains because of a default by Principal under the
2 contract; and
3 4. Performs the guarantee of all work and materials
4 furnished under the contract for the time specified in the
5 contract, then this bond is void; otherwise it remains in full
6 force.
7 Any changes in or under the contract documents and
8 compliance or noncompliance with any formalities connected
9 with the contract or the changes does not affect Surety's
10 obligation under this bond.
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12 DATED ON ...., ...(enter date of bond)....
13 (enter name of Principal)
14 By ...(enter name of its authorized officer)... (As
15 Attorney in Fact)
16 (enter name of Surety)
17 By ...(its authorized Attorney-in-Fact)...
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19 (6) All bonds executed pursuant to this section shall
20 make reference to this section by number and shall contain
21 reference to the notice and time limitation provisions of this
22 section.
23 Section 2. This act shall take effect upon becoming a
24 law.
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CODING: Words stricken are deletions; words underlined are additions.