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Claimant Recovers Fees In Excess Of Bond Amount Attorney Fees; Bonds-performance

Sunday, November 02, 2003 05:46 pm

 
Claimant Recovers Fees In Excess Of Bond Amount Attorney Fees; Bonds-performance

The Florida Supreme Court has allowed a performance bond claimant to recover attorney fees in excess of the bond's penal amount, even in the absence of surety misconduct.

The U.S. Navy awarded a contract to David Boland, Inc. for construction of a training facility in Key West. Boland subcontracted the roofing work to Trans Coastal Roofing Co. Trans Coastal furnished a performance bond, issued by Intercargo Insurance Co., naming Boland as the obligee. The bond limited Intercargo's obligation to a penal amount of $167,800.

Boland later terminated the roofing [...]

 
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