Consent_of_Surety_to_Final_Payment.pdf
PDF 64 KB Posted
- Attached to
- Rob Sullivan Park Maintenance Barn State and local contract opportunity
- Solicitation number
- 05-15
- Issued by
- Volusia County, Florida
About this file
This document is a Consent of Surety to Final Payment form related to the City of Debary's Rob Sullivan Park Irrigation Improvements project (Bid #05-15) in Florida. The form serves as a template for surety companies to authorize final payment release to contractors upon project completion. The document indicates that no bonding is required for this specific project, though the form is designed to accommodate projects where Performance and Payment Bonds have been issued. The form requires the surety company to execute the document through an authorized representative or attorney-in-fact, with notarization required to validate the surety's consent to release the owner from liability resulting from final payment to the contractor.
The surety's consent to final payment does not relieve the surety of its obligations under the bond, as specified in the project specifications, contract, and bond documents. The form requires completion of specific details including the surety company name, contractor name, bond amount (indicated by an asterisk for dollar value insertion), date of execution, and notarial certification including the notary's signature, printed name, commission expiration date, and identification of the state and county where the notarization occurs. This document is a standard contractual requirement ensuring proper authorization and release of payment upon project completion while maintaining the surety's ongoing contractual obligations.
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Text version
City of Debary – Rob Sullivan Park Irrigation Improvements (Bid # 05-15)
SECTION 00617
CONSENT OF SURETY TO FINAL PAYMENT
NO BONDING REQUIRED FOR THIS PROJECT
WE, the , having heretofore executed Performance and Payment Bonds for the Project known as , in the amount of $ * hereby agree that the OWNER may make full payment of the final estimate, including the retained percentage, to said CONTRACTOR. The Surety concurs that full payment to the CONTRACTOR is appropriate and the Surety expressly releases the OWNER from all liability to Surety resulting from full payment to CONTRACTOR. It is fully understood that the granting of the right to the OWNER to make payment of the final estimate to said CONTRACTOR and/or his assigns, shall in no way relieve this surety company of its obligations under its bond, as set forth in the specifications, contract and bond pertaining to the above project.
* = Dollar Value of Issued Performance and Payment Bonds
IN WITNESS WHEREOF, the has caused this instrument to be executed on its behalf by its and its duly authorized attorney in fact, and its corporate seal to be hereunto affixed, all on this day of , .
Surety Attorney-in-Fact
(Power of Attorney must be attached if executed by Attorney in Fact)
STATE OF
COUNTY OF
The foregoing instrument was acknowledged before me this day of , by of (corporation), on behalf of the corporation, who is personally known to me or has produced (Type of Identification) as identification and who did (did not) take an oath.
Sworn to and subscribed to before me this day of , (Signature)
(Print name) Notary Public in and for the County and State Aforementioned
My Commission Expires:
City of Debary – Rob Sullivan Park Irrigation Improvements (Bid # 05-15)
END OF SECTION
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