Public_Construction_Bond.doc
DOC document 33 KB Posted
- Attached to
- Driftwood Road Municipal Parking Facility
- Solicitation number
- ITB 24-34
- Issued by
- Walton County, Florida
About this file
The document is a Public Construction Bond issued by the Board of County Commissioners of Walton County, Florida, associated with the Driftwood Road Municipal Parking Facility project in Santa Rosa Beach. The project involves constructing a municipal parking facility with 82 standard parking spaces, including ADA and electric charging stations, low-speed vehicle and bicycle spaces, and a building featuring public restrooms and transit facilities. The contract duration is set at 300 days for substantial completion, with an additional 30 days allocated for punch list completion.
The bond serves as a financial guarantee for the project, binding the principal contractor to perform the contract, make payments to claimants supplying labor and materials, cover any county losses or damages, and provide a performance guarantee for work and materials. The bond is structured in accordance with Section 255.05 of Florida Statutes, with venue for any potential litigation specified as Walton County, Florida. The bond ensures the contractor's financial and performance obligations are met, protecting the county's interests in the municipal parking facility construction project.
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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 .