6-Consent of Surety to Final Payment.pdf.pdf

This is a Consent of Surety to Final Payment form used by the Hillsborough County Board of County Commissioners in Florida for construction contracts. The document serves as a template through which a surety company authorizes the release of final payment from the County to a contractor while maintaining the surety's ongoing obligations under the associated Performance and Payment Bond. The form requires completion of contractor and surety identification, bond date, and bond amount, followed by notarization in Hillsborough County, Florida. The document explicitly states that approval of final payment does not relieve the surety of any obligations established in the original bond agreement.

This template is directly applicable to the Northwest Transfer Station Community Collection Center Floor Upgrades project, a $2.24 million construction contract requiring all general contractors to furnish Performance and Payment Bonds equal to 100% of the contract amount upon award. Contractors must comply with all bonding requirements and insurance provisions, including naming Hillsborough County as Additional Insured. The surety consent form would be executed during the final payment phase of the project, which includes a 150-day Substantial Completion deadline with liquidated damages of $1,000 per day and a 180-day Final Completion deadline with liquidated damages of $750 per day. All bids are subject to a 5% retainage throughout contract execution, and the document requires proper notarization to be valid and enforceable.