Form 375-020-65 "Painted Galvanized Steel Structures Performance Bond" - Florida

What Is Form 375-020-65?

This is a legal form that was released by the Florida Department of Transportation - a government authority operating within Florida. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

Released on September 1, 2007;
The latest edition provided by the Florida Department of Transportation;
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STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION

375-020-65

CONSTRUCTION

PAINTED GALVANIZED STEEL STRUCTURES PERFORMANCE BOND

OGC – 09/07

Page 1 of 2

KNOW ALL MEN BY THESE PRESENTS: That we [Fabricator Name]

having its principal place of business at [Street Address, City, State, Zip and Phone #]

(hereinafter “Principal”) and

(hereinafter “Surety”), duly authorized to do business in the State of Florida, pursuant to the laws of the State of

Florida, having its principal place of business at [Home Office City, State, Zip]

are held and firmly bound unto the State of Florida, in the full and just penal sum of

DOLLARS ($

), lawful money of the United States of America, to be paid to the Florida

Department of Transportation, to which payment well and truly to be made we bind ourselves, our heirs, executors,

administrators, successors and assigns, jointly and severally and firmly by these presents:

WHEREAS, the above-bound Principal has applied to the State of Florida Department of Transportation

(hereinafter “Department”), to become a Prequalified Fabricator of Painted Galvanized Steel Strain Poles, Mast

Arms and Monotube Assemblies; and

WHEREAS, the above-bound Principal has already and/or intends to provide one or more of the following

materials, including Painted Galvanized Steel Strain Poles, Mast Arms, Monotube Assemblies, Highway Lighting

Poles, or Highway Lighting Arms (hereinafter collectively “Products”), for installation as a part of the completion of

any construction or maintenance contract with the Department during the period from (Date

) to the

subsequent June 30th,

(Year -Note all

and,

annual bond renewals subsequent to initial bond should be from July 1

to June 30

of the following year);

WHEREAS, it was one of the conditions of the addition of Principal to, or the continuation of Principal on, the

Department’s Qualified Products List for supply of Painted Galvanized Steel Strain Poles, Mast Arms and

Monotube Assemblies that these presents be executed on an annual basis;

NOW, THEREFORE, the condition of this Bond is that the above-bound Principal shall in all respects comply with

any “Assumption of Obligations by a Fabricator as the Responsible Party for Color and Adhesion Warranties on

Painted Galvanized Structures”, Department Form No. 700-010-20 (hereinafter “Assumption”) which the Principal

executes regarding the installation of the Products during the term of this Bond or which the Principal has executed

during the previous five calendar years, subject, however, to the following:

1. The term of this Bond commences on the

day of

, 20

and continues until the subsequent

June 30

. Subject to paragraph 5 below, this Bond covers any and all coating system color retention failure

warranty issues and all coating system adhesion failure warranty issues as to which the Department provides

Principal or Surety written notice of during the term of this Bond, or as may be otherwise extended pursuant to

paragraph 5 below.

2. The aggregate liability of the Surety for the term of this Bond, including extended liability pursuant to paragraph

5 below, and expressly including the current Bond term and the five previous calendar years cumulatively, shall not

exceed the penal sum stated above regardless of the number of Products furnished by the Principal, the number of

Assumptions executed, the number of contracts on which Principal’s Products are used during said six year period,

the number of years this Bond may be annually renewed and remains in effect, or the number of premiums paid.

3. Claims under this Bond may only be initiated during the term of this Bond, or as such claim period may be

otherwise extended pursuant to paragraph 5 below. To initiate any claim under this Bond the Department must

notify the Surety of that claim in writing during the term of this Bond, or as otherwise applicable pursuant to

paragraph 5 below.

4. The Department must notify Surety in writing of any claim under this Bond not more than five (5) years from the

date of the Department’s final acceptance of the contract under which the Products were installed pursuant to

articles 5-11 or 9-8 of the contract specifications where such contract is also identified in the Assumption as to

which the Department asserts the Principal has failed to perform its obligations.

5. Notwithstanding anything to the contrary contained in paragraphs 1 and 3 above, if the Principal does not furnish

a bond acceptable to the Department for the period commencing on the July 1 following the expiration of the term

of this Bond, the Principal and Surety shall remain liable to the Department for any breach by Principal of its