Public_Construction_Bond.doc
DOC document 30 KB Posted
- Solicitation number
- 26-06
- Issued by
- Walton County, Florida
About this file
Public Construction Bond Summary
This is a Public Construction Bond form issued by the Board of County Commissioners for Walton County, Florida. The bond serves as a financial guarantee for construction contracts awarded by Walton County and establishes the obligations of both the Principal (contractor) and the Surety (bonding company). The Principal must perform all work according to the contract terms and timeline, promptly pay all labor, material, and supply claimants as defined under Florida Statutes Section 255.05(1), guarantee all work and materials for the specified time period, and compensate the County for any losses, damages, expenses, costs, and attorney's fees resulting from contract default. Claims against the bond must be submitted in accordance with notice and time limitations specified in Florida Statutes Section 255.05(2). The bond amount is left blank for completion based on the specific contract value, and venue for any litigation is established in Walton County, Florida. The bond requires execution by authorized representatives of both the Principal and Surety, with signature and seal dates to be completed at time of bond issuance.
The bond document contains no specific pricing information, set-asides, funding amounts, or other financial terms, as it is a standardized template designed for multiple construction projects. The form emphasizes that changes to contract documents do not affect the Surety's obligation under the bond, ensuring protection for the County regardless of contract modifications. This bond is a standard requirement for public construction projects in Florida and protects the County from contractor default, ensuring completion of construction work and payment to all parties supplying labor, materials, and supplies to the project.
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| Public_Construction_Bond_(25).doc | DOC document | |
| CONSTRUCTION_CONTRACT.doc | DOC document |
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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 ________________, 20___, 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 __________________, 20___.
ATTEST: PRINCIPAL
By:__________________________
By: ____________________ (SEAL)
[PRINT NAME & TITLE]
ATTEST: SURETY
By:__________________________
By: _________________________
[PRINT NAME & TITLE]
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