Form 700-011-18 Design-Build-Finance Firm Request for Project Specific Escrow Account (Bond Solution) and Unique Vendor Number Sequence for All Department Payments to Be Made on Contract - Florida

Form 700-011-18 is a Florida Department of Transportation form also known as the "Design-build-finance Firm Request For Project Specific Escrow Account (bond Solution) And Unique Vendor Number Sequence For All Department Payments To Be Made On Contract". The latest edition of the form was released in July 1, 2018 and is available for digital filing.

Download a PDF version of the Form 700-011-18 down below or find it on Florida Department of Transportation Forms website.

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700-011-18
CONSTRUCTION
OGC - 07/18
Page 1 of 3
STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION
DESIGN-BUILD-FINANCE
FIRM REQUEST FOR PROJECT SPECIFIC
ESCROW ACCOUNT (BOND SOLUTION) AND UNIQUE VENDOR NUMBER
SEQUENCE FOR ALL DEPARTMENT PAYMENTS TO BE MADE ON CONTRACT #
[Firm Name] (hereinafter “DBF
Firm”), the Design-Build-Finance Firm contracting with the Florida Department of Transportation (hereinafter
“Department”) pursuant to Contract #
, FIN #
and here doing so
solely for the DBF Firm’s benefit and in furtherance of independent arrangements the DBF Firm has made for a bond
solution for gap financing with
(the “Issuer”), as the issuer of revenue bonds providing gap funding for
performance of the Contract (the “Gap Funding Bonds”), and
as trustee with respect to the Gap Funding Bonds (the “Trustee”) (said Issuer and Trustee, collectively, hereinafter the
“Financing Entity”), and the DBF Firm’s Surety,
(hereinafter “Surety”), hereby expressly and irrevocably requests, authorizes and directs the Department to process, issue
and transmit any and all future payments otherwise payable directly to DBF Firm to now be processed, issued and
transmitted using DBF Firm’s Project Specific Escrow Account and unique vendor number sequence, in lieu of DBF Firm’s
regular vendor account, as follows:
A. PROJECT SPECIFIC ESCROW ACCOUNT DIRECTIONS: DBF Firm requests all future payments on this
Contract be processed, issued and transmitted, based on the following information:
1.
DBF Firm’s vendor number (FEID) is
.
2.
DBF Firm hereby requests the Department’s Comptroller coordinate establishment of a unique
vendor number sequence for this Project Specific Escrow Account with
MyFloridaMarketplace/Department of Financial Services.
3.
DBF Firm’s Project Specific Escrow Account mailing address will be:
(DBF Firm Name)
(Continued)
(Continued)
(Address and Street)
(City, State, Zip)
4.
DBF Firm acknowledges that all such Project Specific Escrow Account payments will be made by
written warrant and shall be mailed directly to the address in (3) above.
B. GENERAL TERMS:
1.
DBF Firm understands and agrees that the Department will require reasonable time to respond
and initiate any requested changes as a result of a change in the payee vendor number
sequencing under this Contract; and, further, the Department shall have no liability, whatsoever,
for any delay in processing any such payee change as set forth above prior to expiration of
twenty (20) business days following the Department’s certified, return-receipt or registered mail
receipt of DBF Firm’s formal request. DBF Firm agrees hereby to indemnify, defend, and hold-
harmless the Department from any cause of action, suit, claim or other demand made against the
Department arising in any way out of the Department’s failure to process any such payee vendor
700-011-18
CONSTRUCTION
OGC - 07/18
Page 1 of 3
STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION
DESIGN-BUILD-FINANCE
FIRM REQUEST FOR PROJECT SPECIFIC
ESCROW ACCOUNT (BOND SOLUTION) AND UNIQUE VENDOR NUMBER
SEQUENCE FOR ALL DEPARTMENT PAYMENTS TO BE MADE ON CONTRACT #
[Firm Name] (hereinafter “DBF
Firm”), the Design-Build-Finance Firm contracting with the Florida Department of Transportation (hereinafter
“Department”) pursuant to Contract #
, FIN #
and here doing so
solely for the DBF Firm’s benefit and in furtherance of independent arrangements the DBF Firm has made for a bond
solution for gap financing with
(the “Issuer”), as the issuer of revenue bonds providing gap funding for
performance of the Contract (the “Gap Funding Bonds”), and
as trustee with respect to the Gap Funding Bonds (the “Trustee”) (said Issuer and Trustee, collectively, hereinafter the
“Financing Entity”), and the DBF Firm’s Surety,
(hereinafter “Surety”), hereby expressly and irrevocably requests, authorizes and directs the Department to process, issue
and transmit any and all future payments otherwise payable directly to DBF Firm to now be processed, issued and
transmitted using DBF Firm’s Project Specific Escrow Account and unique vendor number sequence, in lieu of DBF Firm’s
regular vendor account, as follows:
A. PROJECT SPECIFIC ESCROW ACCOUNT DIRECTIONS: DBF Firm requests all future payments on this
Contract be processed, issued and transmitted, based on the following information:
1.
DBF Firm’s vendor number (FEID) is
.
2.
DBF Firm hereby requests the Department’s Comptroller coordinate establishment of a unique
vendor number sequence for this Project Specific Escrow Account with
MyFloridaMarketplace/Department of Financial Services.
3.
DBF Firm’s Project Specific Escrow Account mailing address will be:
(DBF Firm Name)
(Continued)
(Continued)
(Address and Street)
(City, State, Zip)
4.
DBF Firm acknowledges that all such Project Specific Escrow Account payments will be made by
written warrant and shall be mailed directly to the address in (3) above.
B. GENERAL TERMS:
1.
DBF Firm understands and agrees that the Department will require reasonable time to respond
and initiate any requested changes as a result of a change in the payee vendor number
sequencing under this Contract; and, further, the Department shall have no liability, whatsoever,
for any delay in processing any such payee change as set forth above prior to expiration of
twenty (20) business days following the Department’s certified, return-receipt or registered mail
receipt of DBF Firm’s formal request. DBF Firm agrees hereby to indemnify, defend, and hold-
harmless the Department from any cause of action, suit, claim or other demand made against the
Department arising in any way out of the Department’s failure to process any such payee vendor
700-011-18
CONSTRUCTION
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Page 2 of 3
number sequencing change as set forth above, if the Department does so as set forth above prior
to the expiration of twenty (20) business days following the Department’s certified, return-receipt
or registered mail receipt of the appropriate formal request.
2.
By signature below, Financing Entity and Surety, in their respective capacities, understand,
consent to, and agree to be so bound by the entirety of the terms of this Design-Build-Finance
Firm Request for Specific Escrow Account and Unique Vendor Number Sequence.
3.
This request is irrevocable by DBF Firm, subject to DBF Firm obtaining written concurrence by
both its named Financing Entity and Surety, and acceptance by the Department of any such
subsequent request to change from this Project Specific Escrow Account and unique vendor
number sequence for the processing, issuance and transmittal of payments due under this
Contract.
4.
The fully executed original of this Request Form #700-011-18 must be delivered to the District
Construction Engineer, and a copy of the fully executed Request Form also delivered to “FDOT
Comptroller, 605 Suwannee Street MS #24, Tallahassee, Florida 32399-0424.”
5.
The DBF Firm, the Financing Entity, and the Surety represent, acknowledge and agree, as
between themselves, that the financing being provided by the Financing Entity to the DBF Firm is
solely limited to the original executed Contract Amount and shall not pertain to any additional
payments to the DBF Firm pursuant to Supplemental Agreements or Change Orders that
increase the Contract Price of the Contract, and such parties respectfully place the Department
on notice of such financing limitation here. Further, the DBF Firm, the Financing Entity, and the
Surety acknowledge and accept that all payments to be made by the Department on this Contract
will be transmitted as set forth in A.1.- A. 4., herein.
DESIGN-BUILD-FINANCE FIRM
SURETY
By:
By:
(Signature)
(Signature)
(Printed Name of Signator)
(Printed Name of Signator)
(Official Capacity)
(Official Capacity)
(Date of Signature)
(Date of Signature)
700-011-18
CONSTRUCTION
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Page 3 of 3
ISSUER
, as TRUSTEE
By:
By:
(Signature)
(Signature)
(Printed Name of Signator)
(Printed Name of Signator)
(Official Capacity)
(Official Capacity)
(Date of Signature)
(Date of Signature)
The Project Specific Escrow Account designation set forth above is acknowledged and agreed to by the Department this
day of
, 20
.
FLORIDA DEPARTMENT OF TRANSPORTATION
By:
(Signature)
(Printed Name of Signator)
(Official Capacity)
(Date of Signature)

Download Form 700-011-18 Design-Build-Finance Firm Request for Project Specific Escrow Account (Bond Solution) and Unique Vendor Number Sequence for All Department Payments to Be Made on Contract - Florida

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