Types of projects. (a) Wood frame buildings comprised of interior and exterior wood frame walls, floors and roof systems, asphalt shingle roofs, vinyl windows and wood, vinyl or cement board siding.
Types of projects. (a) Definition of Residential High-Rise: Multi storied building exceeding 3 storeys that provides individual housing units, living accommodations, and/or lodging.
Types of projects. Projects may be of any nature that will result in pro- tection to public or private property. Eligible projects include, but are not limited to:
Types of projects. The bond for Public Projects is a combination bid bond, performance bond and payment bond. Upon a public authority entering into a contract with a successful bidder, the bid bond is automatically “converted” into a combined performance and payment bond. Labor and Material Covered: All labor performed or all materials furnished in carrying forward, performing, or completing a contract for the construction, demolition, alteration, repair or reconstruction of any public improvement. Notice Required: In order to preserve a bond claim on a public project in Ohio, any subcontractor, laborer or materialman who is not in direct contract with the principal (original) contractor, and who are supplying labor or materials that cost more than $30,000, is required to serve a Notice of Furnishing on the principal contractor to preserve bond rights within 21 days of first performing labor or furnishing mate- rials. Failure to serve the Notice of Furnishing within the first 21 days does not defeat all bond rights, merely only allows the bond claim to cover the previous 21 days of work, labor, or material from when the Notice of Furnishing is actually served. The bond claimant is required to serve a statement of the amount due to the surety(ies) within 90 days after acceptance of the project by the Public Authority. The notice should be given to the surety by a method that evidences proof of receipt. The notice should set forth in detail the name of the claimant, the amount of the claim, a description of services or materials which were provided and other information to support and substantiate the claim. Information on who the surety(ies) is/are can be found in the Notice of Commencement prepared by the Public Authority. Frequently, a bond claim on a public project will be served contemporaneously with the filing of a lien on the project funds. Providing to the surety a copy of the lien claim gives the surety helpful information. Time for Suit: No suit shall be brought against the surety until after 60 days after the furnishing of the statement, but suit must be com- menced not later than one year from date of acceptance of the public improvement by the Public Authority. Contracts Excluded: No specific statutory provision. Penalty for Failure to Take Bond: No specific statutory provision. Statutory Citation: Ohio Statutes, Title 1, Chapter 153, §§153.56, 153.57, 153.571, OKLAHOMA Amount of Bond: 100 percent of the contract amount. Labor and Material Covered: All indebtedne...
