I am contacting you on behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of surety bond producers, including licensed resident and nonresident producers placing bid, performance, payment, and maintenance bonds in the State of Florida and all other jurisdictions.
We recently received information from our members regarding the Seminole County 10% Material and Workmanship Bond (Bond) to be used on “CDBG, HOME, SHIP, and NSP funded residential new construction and reconstruction projects benefiting income-qualified households in Seminole County.” The Bond, the First Amendment to Master Construction Services Agreement (Amendment), and Exhibit A and Exhibit D to the Amendment impose long-term maintenance provisions on the contractor–and its surety. In particular, the provisions of these documents require the contractor, and its surety, to assume long-term maintenance obligations for roofing (five years) and all structural components (ten years).
NASBP Letter Addressing Locality Requirements in VA Bid Bond