Public_Construction_Bond.doc
DOC document 33 KB Posted
- Solicitation number
- ITB 24-42
- Issued by
- Walton County, Florida
About this file
This document is a Public Construction Bond issued by the Board of County Commissioners of Walton County, Florida, for the Intersection Signalization Project at US 98 and Moll Drive/Church Street. The project involves constructing signalization improvements at an existing intersection in Santa Rosa Beach, with construction activities including mast arm foundation and installation, electrical work, and pavement markings. The contract duration is set at ninety (90) days for substantial completion, with an additional thirty (30) days allocated for punch list completion. A "Limited" Notice to Proceed will authorize procurement of long lead time materials, with the county requiring written estimated delivery dates from suppliers.
The bond serves as a financial guarantee for the project, ensuring the principal performs the contract, makes payments to claimants supplying labor and materials, covers county losses and damages, and guarantees work quality. The project is located approximately 3.48 miles west of the US 98/US 331 intersection in South Walton County, Florida. The bond provides financial protection for the county, with specific provisions for claims and litigation venue set in Walton County. The contractor will be required to submit materials procurement information and await county verification before receiving the "Final" Notice to Proceed, which allows for potential material storage payment applications.
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Text version
SEQ CHAPTER \h \r 1PUBLIC CONSTRUCTION BOND
BOARD OF COUNTY COMMISSIONERS,
WALTON COUNTY, FLORIDA
BY THIS BOND, We _________________________________________________, as Principal and ___________________________________________, a corporation, as Surety, whose address is , , Florida , are bound to Walton County, Florida, a political subdivision of the State of Florida, hereinafter referred to as "COUNTY", in the sum of ______________________________ DOLLARS ($________________), for the payment of which, we bind ourselves, our heirs, personal representatives, successors, and assigns, jointly and severally.
THE CONDITION OF THIS BOND is that the Principal:
1.
Performs the Contract dated ________________, 2024, between Principal and County for the construction of:
the Contract being made a part of this bond by reference, at the times and in the manner prescribed in the Contract, and
2.
Promptly makes payments to all claimants, as defined in Section 255.05(1), Florida Statutes, supplying Principal with labor, materials, or supplies, used directly or indirectly by Principal in the prosecution of the work provided for in the Contract; and
3.
Pays County all losses, damages, expenses, costs, and attorney's fees, including appellate proceedings, that County sustains because of a default by Principal under the Contract; and
4.
Performs the guarantee of all work and materials furnished under the Contract for the time specified in the Contract, then this bond is void; otherwise, it remains in full force.
Any claims made against this bond shall be made in accordance with the notice and time limitations specified in Section 255.05(2), Florida Statutes.
Any changes in or under the Contract Documents and compliance or noncompliance with any formalities connected with the Contract or the changes do not affect surety's obligation under this bond.
Venue for any litigation resulting from this bond shall be Walton County, Florida.
Signed and sealed this ____ day of __________________, 2024.
ATTEST: PRINCIPAL
By:__________________________
By: ____________________ (SEAL)
[PRINT NAME & TITLE]
ATTEST: SURETY
By:__________________________
By: _________________________
[PRINT NAME & TITLE]
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File details come from the government source that posted it. Updated .