HB 0535 2004
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 (7), (8), and (9) of section
9	255.05, Florida Statutes, are renumbered as subsections (6),
10	(7), and (8), respectively, and present subsections (3) and (6)
11	of said section, are amended to read:
12	255.05 Bond of contractor constructing public buildings;
13	form; action by materialmen.--
14	(3) The bond required in subsection (1) shall may be in
15	substantially the following form, and any deviation of the bond
16	form required by the public owner or furnished by the contractor
17	shall be disregarded:
18
19	PUBLIC CONSTRUCTION BOND
20
21	BY THIS BOND, We, _____(enter name, principal business
22	address, and telephone number of contractor) , as Principal,
23	and _____(enter name, principal business address, and telephone
24	number of surety) , a corporation authorized to do business
25	in Florida as a surety insurer, as Surety, are bound to
26	_____(enter name, principal business address, and telephone
27	number of public owner) , hereinafter hereincalled Owner,
28	in the sum of $_____(enter contract amount as penal sum of bond)
29	, for payment of which we bind ourselves and,our heirs,
30	personal representatives, successors, and assigns, jointly and
31	severally.
32
33	WHEREAS, Principal has entered into a contract with Owner
34	for ...(enter description of project sufficient to identify it,
35	such as a legal description of property, the street address of
36	property, and a general description of the improvement to be
37	constructed)..., which is Owner’s contract No. ...(enter
38	contract number)... belonging to ...(enter name, principal
39	business address, and telephone number of owner of property if
40	different from the contracting public entity)..., and
41
42	WHEREAS, the Bond is given to meet the requirements of
43	Section 255.05, Florida Statutes, and the respective rights and
44	obligations of the Principal, Surety, Owner, and any Claimant
45	shall be controlled by Section 255.05, Florida Statutes,
46	including specifically the notice and time limitation provisions
47	of Section 255.05(2), Florida Statutes.
48
49	NOW, THEREFORE,THE CONDITION OF THIS BOND is that if
50	Principal:
51	1. Performs the contract dated _____(enter date of
52	contract) , _____,between Principal and Owner for
53	construction of ___(the Project)__, the contract being made a
54	part of this bond by reference, at the times and in the manner
55	prescribed in the contract; and
56	2. Promptly makes payments to all claimants, as defined in
57	Section 255.05(1), Florida Statutes, supplying Principal with
58	labor, materials, or supplies, used directly or indirectly by
59	Principal in the prosecution of the work provided for in the
60	contract; and
61	3. Pays Owner all losses, damages, expenses, costs, and
62	attorney's fees, including appellate proceedings, that Owner
63	sustains because of a default by Principal under the contract;
64	and
65	4. Performs the guarantee of all work and materials
66	furnished under the contract for the time specified in the
67	contract, then this bond is void; otherwise it remains in full
68	force.
69	Any change changesin or under the contract documents and
70	compliance or noncompliance with any formalities connected with
71	the contract or the changes does not affect Surety's obligation
72	under this bond. In no event shall the liability of the Surety
73	exceed the amount of the bond stated above.
74
75	DATED ON _____, _____(enter date of bond) .
76
77	... (entername of Principal) ...
78	By ... (enter name of its authorized officer) (As Attorney in
79	Fact)...
80	... (enter name of Surety) ...
81
82	By ... (its authorized Attorney-in-Fact)
83
84	(6) All bonds executed pursuant to this section shall make
85	reference to this section by number and shall contain reference
86	to the notice and time limitation provisions of this section.
87	Section 2. This act shall take effect upon becoming a law.