DOCUMENT

FORMConstruction Bond

  • ENTITY TYPE: County
  • TYPE OF DOCUMENT: FORM - Form
The document is a Public Construction Bond (PCB) for a construction project. The front page of the bond contains information such as the bond number, contractor name and address, contractor phone number, surety company, owner name and address, obligee name and address, bond amount, contract number, general description of the project, and project location. The bond is between the principal (contractor) and the surety company, and it is held and bound to the Board of County Commissioners, Polk County, Florida, as the obligee. The bond is in the sum of a certain amount of dollars, and the principal and surety bind themselves jointly and severally for the payment. The condition of the bond is that the principal must perform the contract for the construction project in accordance with the terms and conditions specified in the Contract dated a certain date. The principal must also make prompt payments to all claimants supplying labor, materials, or supplies for the project. The principal is responsible for any losses, damages, expenses, costs, and attorney fees incurred by the County due to a default by the principal. Additionally, the principal must guarantee all work and materials furnished under the contract for the specified time. Any changes in the contract documents and compliance or non-compliance with formalities do not affect the surety's obligation under the bond. The bond references Section 255.05 of the Florida Statutes and its notice and time limitation provisions. The document is executed with the signatures of the principal and surety, along with their printed names and titles.
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