On many construction projects, whether you are starting a new business, offering professional services, or engaging in projects that involve public works or construction, you may be required to secure payment and performance bonds in Florida.
This requirement is to ensure that your business or services comply with state regulations, protect public interests, and fulfill contractual obligations.
Regardless of your role in the Florida construction industry, it is a given that you will need to deal with surety bonds on an almost-daily basis. A bond is required by Florida’s Little Miller Act any time you are working on a public project in excess of $200,000, and it may be a legal condition in many other contexts. In general, these bonds are a type of insurance policy protecting the property owner from financial loss if the contractor fails to perform, does not pay subcontractors, or otherwise does not uphold its end of the bargain regarding a construction contract. Because they are an integral component of the construction process, it is essential that all involved parties be aware of how surety bonds work – including contractors, subcontractors, laborers, material supplies, and sureties. Milne Law Group, P.A. can assist in all aspects of surety law including prosecuting and defending against bond claims.
Surety bond disputes are just one of the many challenges you may encounter on a Florida construction project, and you can protect your interests by working with experienced legal counsel at Milne Law Group, P.A. We can setup a consultation to discuss your surety law needs and determine how best to proceed.