The legislature recently passed a modification to the Florida Homeowners’ Construction Recovery Fund provision which is required in construction contracts. The language was revised as follows:
FLORIDA HOMEOWNERS’ CONSTRUCTION RECOVERY FUND
PAYMENT, UP TO A LIMITED AMOUNT, MAY BE AVAILABLE FROM THE FLORIDA HOMEOWNERS’ CONSTRUCTION RECOVERY FUND IF YOU LOSE MONEY ON A PROJECT PERFORMED UNDER CONTRACT, WHERE THE LOSS RESULTS FROM SPECIFIED VIOLATIONS OF FLORIDA LAW BY A LICENSED CONTRACTOR. FOR INFORMATION ABOUT THE RECOVERY FUND AND FILING A CLAIM, CONTACT THE FLORIDA CONSTRUCTION INDUSTRY LICENSING BOARD AT THE FOLLOWING TELEPHONE NUMBER AND ADDRESS: (850) 487-1395, 2601 Blairstone road, Tallahassee, FL 32399-1039.
Failure to include the mandatory contractual disclosures could expose contractors to civil liability. Please feel welcome to reach out to Trent Cotney, P.A. for a free consultation to discuss your current proposal and/or contractual documentation.