Senate Bill sb0652c1
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Florida Senate - 2005 CS for SB 652
By the Committee on Governmental Oversight and Productivity;
and Senator Sebesta
585-1971-05
1 A bill to be entitled
2 An act relating to public construction bonds;
3 amending s. 255.05, F.S.; revising requirements
4 for the form used for public construction
5 bonds; requiring payment provisions of public
6 construction bonds to be construed as statutory
7 bonds; requiring payment bond forms to
8 reference notice and time limitation
9 provisions; providing an effective date.
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11 Be It Enacted by the Legislature of the State of Florida:
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13 Section 1. Subsections (3), (4), and (6) of section
14 255.05, Florida Statutes, are amended to read:
15 255.05 Bond of contractor constructing public
16 buildings; form; action by materialmen.--
17 (3) The bond required in subsection (1) may be in
18 substantially the following form:
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20 PUBLIC CONSTRUCTION BOND
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22 Bond No. (enter bond number)
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24 BY THIS BOND, We ...., as Principal and ...., a
25 corporation, as Surety, are bound to ...., herein called
26 Owner, in the sum of $...., for payment of which we bind
27 ourselves, our heirs, personal representatives, successors,
28 and assigns, jointly and severally.
29 THE CONDITION OF THIS BOND is that if Principal:
30 1. Performs the contract dated ...., ...., between
31 Principal and Owner for construction of ...., the contract
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2005 CS for SB 652
585-1971-05
1 being made a part of this bond by reference, at the times and
2 in the manner prescribed in the contract; and
3 2. Promptly makes payments to all claimants, as
4 defined in Section 255.05(1), Florida Statutes, supplying
5 Principal with labor, materials, or supplies, used directly or
6 indirectly by Principal in the prosecution of the work
7 provided for in the contract; and
8 3. Pays Owner all losses, damages, expenses, costs,
9 and attorney's fees, including appellate proceedings, that
10 Owner sustains because of a default by Principal under the
11 contract; and
12 4. Performs the guarantee of all work and materials
13 furnished under the contract for the time specified in the
14 contract, then this bond is void; otherwise it remains in full
15 force.
16 Any action instituted by a claimant under this bond for
17 payment must be in accordance with the notice and time
18 limitation provisions in Section 255.05(2), Florida Statutes.
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20 Any changes in or under the contract documents and
21 compliance or noncompliance with any formalities connected
22 with the contract or the changes does not affect Surety's
23 obligation under this bond.
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25 DATED ON ...., .....
26 ...(Name of Principal)...
27 By ...(As Attorney in Fact)...
28 ...(Name of Surety)...
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30 (4) The payment provisions of all bonds required by
31 furnished for public work contracts described in subsection
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2005 CS for SB 652
585-1971-05
1 (1) shall, regardless of form, be construed and deemed
2 statutory bonds furnished pursuant to this section and such
3 bonds shall not under any circumstances be converted into
4 common law bonds bond provisions, subject to all requirements
5 of subsection (2).
6 (6) All payment bond forms used by a public owner and
7 all payment bonds executed pursuant to this section by a
8 surety shall make reference to this section by number and
9 shall contain reference to the notice and time limitation
10 provisions in subsection (2) of this section.
11 Section 2. This act shall take effect upon becoming a
12 law.
13
14 STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
COMMITTEE SUBSTITUTE FOR
15 Senate Bill 652
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17 Changes a citation from "subsection (2)" to "section
255.05(2), Florida Statutes."
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