Unlike insurance policies which protect insureds from fortuitous events or accidents that arise during performance of the work, performance bonds are contracts of suretyship. They guarantee to the named obligee, usually the project owner, that the project will be constructed in accordance with the plans and specifications for the contract price within the contract time....Read More

Payment bonds, which generally exempt real property from construction liens, protect those parties (except the contractor) who furnish labor, materials, and/or services on a project.  Before a project commences, the owner may require the contractor to furnish a payment bond pursuant to section 713.23, Florida Statutes. In order to exempt the property, the payment bond...Read More

All About Florida Construction Insurance Coverage and Bad Faith Claimants considering initiating a defect claim are often faced with the prospect that the responsible party may not have the financial ability to pay a claim, or sufficient assets to satisfy a judgment in the event the claimant prevails. It therefore becomes even more critical to...Read More

Insights on Florida Construction Defect Claims Defect claims may be prosecuted under various legal theories such as: breach of express or implied obligations of a contract; contractual indemnity; breach of warranty; common law claims such as strict liability, negligence, indemnification, contribution, fraud, fraudulent misrepresentation, fraudulent inducement, negligence misrepresentation, nondisclosure under Johnson v. Davis; and statutory...Read More