HB 0485 2003
1	A bill to be entitled
2	An act relating to public construction bonds; amending s.
3	255.05, F.S.; providing for a mandatory form for public
4	construction bonds; providing an effective date.
5
6	Be It Enacted by the Legislature of the State of Florida:
7
8	Section 1. Subsections (3) and (6) of section 255.05,
9	Florida Statutes, are amended to read:
10	255.05 Bond of contractor constructing public buildings;
11	form; action by materialmen.--
12	(3) The bond required in subsection (1) shallmay be in
13	substantially the following form, and any deviation of the bond
14	form required by the public owner or furnished by the contractor
15	shall be disregarded:
16
17	PUBLIC CONSTRUCTION BOND
18
19	BY THIS BOND, We, _____(enter name, principal business
20	address, and telephone number of contractor) , as Principal,
21	and _____(enter name, principal business address, and telephone
22	number of surety) , a corporation authorized to do business
23	in Florida as a surety insurer, as Surety, are bound to
24	_____(enter name, principal business address, and telephone
25	number of public owner) , hereinafterhereincalled Owner,
26	in the sum of $_____(enter contract amount as penal sum of bond)
27	, for payment of which we bind ourselves and,our heirs,
28	personal representatives, successors, and assigns, jointly and
29	severally.
30
31	WHEREAS, Principal has entered into a contract with Owner
32	for ...(enter description of project sufficient to identify it,
33	such as a legal description of property, the street address of
34	property, and a general description of the improvement to be
35	constructed)..., which is Owner’s contract No. ...(enter
36	contract number)... belonging to ...(enter name, principal
37	business address, and telephone number of owner of property if
38	different from the contracting public entity)..., and
39
40	WHEREAS, the Bond is given to meet the requirements of
41	Section 255.05, Florida Statutes, and the respective rights and
42	obligations of the Principal, Surety, Owner, and any Claimant
43	shall be controlled by Section 255.05, Florida Statutes,
44	including specifically the notice and time limitation provisions
45	of Section 255.05(2), Florida Statutes.
46
47	NOW, THEREFORE,THE CONDITION OF THIS BOND is that if
48	Principal:
49	1. Performs the contract dated _____(enter date of
50	contract) , _____,between Principal and Owner for
51	construction of ___the Project__, the contract being made a part
52	of this bond by reference, at the times and in the manner
53	prescribed in the contract; and
54	2. Promptly makes payments to all claimants, as defined in
55	Section 255.05(1), Florida Statutes, supplying Principal with
56	labor, materials, or supplies, used directly or indirectly by
57	Principal in the prosecution of the work provided for in the
58	contract; and
59	3. Pays Owner all losses, damages, expenses, costs, and
60	attorney's fees, including appellate proceedings, that Owner
61	sustains because of a default by Principal under the contract;
62	and
63	4. Performs the guarantee of all work and materials
64	furnished under the contract for the time specified in the
65	contract, then this bond is void; otherwise it remains in full
66	force.
67	Any changes in or under the contract documents and
68	compliance or noncompliance with any formalities connected with
69	the contract or the changes does not affect Surety's obligation
70	under this bond.
71
72	DATED ON _____, _____(enter date of bond) .
73
74	... (entername of Principal) ...
75	By ... (enter name of its authorized officer)(As Attorney in
76	Fact) ...
77	... (enter name of Surety) ...
78
79	By ... (its authorized Attorney-in-Fact)
80	(6) All bonds executed pursuant to this section shall make
81	reference to this section by number and shall contain reference
82	to the notice and time limitation provisions of this section.
83	Section 2. This act shall take effect upon becoming a law.
84