Category: Bonds

Checklist for a 255.05 Bond

Contractors working on public projects should be familiar with the requirements of Florida Statute §255.05. Here is what a 255.05 bond needs to state on its face: · Name, principal address, and phone number of the contractor, the surety, the owner of the property being improved, and if different from the owner, the contracting public entity; · The contract number assigned by the public entity; · The bond number assigned by the surety; and · A description of the project sufficient to identify it, such as a legal description or the street address, along with a general description of the ... Read more

3 Simple Steps to Filing a Payment Bond Claim

A payment bond secures one’s right to be paid on a construction project. If a job is bonded, a claim exists against that payment bond. How do you know if a job is bonded? A copy of the bond should be posted at the job site. A copy of the bond is also likely recorded with the Notice of Commencement. So if you have access to the public records of the county where you’re doing work, you can pull up the Notice of Commencement and see if the job is bonded. Assuming there is a bond on the job, there ... Read more

Bond Protection Under the Miller Act – [ PART 2 ]2

What Notices Are Required Failing to correctly and timely serve the proper notice under the Miller Act may mean “game over” to a bond claimant’s action, even if its work was performed perfectly. For example, prior to filing a lawsuit to enforce its payment bond claim, a second ­tier claimant must notify the prime contractor by stating with “substantial accuracy” the amount claimed and to whom the material or labor was furnished. The notice must be provided to the prime contractor within 90 days of the second ­tier claimant’s last date of work on the project. Because various federal court ... Read more