1. Florida construction lien and bond law is constantly changing and should be reviewed regularly.
2. Recent amendments to Florida lien and bond law will take effect on October 1, 2023.
3. The amendments to Florida Statute 255.05(2)(a)2 will better protect bond claimants who were not provided with a copy of the bond.
4. The amended statute allows bond claimants to serve written notice up to 45 days after being provided with a copy of the bond.
5. The amendment also requires bond claimants to serve a copy of the notice of non-payment on the surety, not just on the contractor. – A finance charge in Florida lien law is defined as an additional amount specified in a credit agreement to be paid by the obligor on any unpaid balance after the due date.
– Effective October 1, 2023, the deadline for recording liens in Florida is extended to the end of the next business day if the last day of the time period falls on a Saturday, Sunday, or holiday, or if the clerk’s office is closed in response to an emergency. – The Florida lien law allows an owner to terminate a notice of commencement after meeting specific requirements and including certain information in the notice of termination.
– Before recording the notice of termination in the public records, the owner must serve a copy of it to each lienor with a direct contract with the owner or who has served a notice to owner.
– An amendment to the statute requires the owner to include a statement in the notice that they will serve a copy of the notice of termination to anyone who timely serves a notice to owner after the notice of termination has been recorded. The notice must also include the official records reference numbers and recording date of the notice of commencement.
– The amendment also allows an owner to record a notice of termination after construction completion or when construction ceases before completion and all lienors have been paid in full or pro rata in accordance with the statute.
– Contractors, subcontractors, suppliers, and other lienors working on a construction project in Florida are advised to consult counsel to best protect their lien and bond rights in light of these changes.
https://www.jimersonfirm.com/blog/2023/07/florida-construction-lien-and-bond-law-changes-are-on-the-horizon/
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