Surety Blog

What If The Contractor, Rather Than The Owner, Signs a Notice of Commencement? Is the Notice Defective And, Therefore, Ineffective? Lexology.com provided an in-depth answer to this very popular question. \”Under Florida lien law, a Notice of Commencement is a form document the property owner is generally required to sign and record in the public […]

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\”After a 40-0 vote, Florida lawmakers have passed a bill that will limit the amount of retainage that can be withheld from contractor payments on state and local publicly funded projects to 5%. If Florida Gov. Ron DeSantis signs the legislation, the new law will go into effect Oct. 1, 2020. Currently, contractors working on

Heads Up! The FDOT requires that an annual financial statement prepared under Generally Accepted Accounting Principles (GAAP) be included with the contractor’s annual prequalification package this year. Before you have your CPA finalize your financials, make sure they are doing it on the required method. According to the article that the Florida Transportation Builders Association

There was a recent article on law.com that went into detail about how design professionals such as architects and engineers are exposed to significant risk and potential liability for errors and omissions in possibly more than just their designs on construction projects. It was an interesting article worthy of sharing…it stated “In addition to potential