Florida Regulations 40D-7.002: Definitions
Current as of: 2024 | Check for updates
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When used in this chapter:
(1) “”Contractor”” means an individual, partnership, corporation, joint venture, professional association, an obligor to a third party beneficiary contract, or any other legal entity, including any associated principals, that has entered into a contract with the District for the performance of work. Contractor shall not include recipients of District grant funds.
(2) “”District”” means the Southwest Florida Water Management District.
(3) “”Notice to Defaulting Contractor”” means a written notification from the District to a contractor stating that the contractor materially breached a contract with the District for the purposes of this chapter and is being referred to the Governing Board for a determination as to whether the contractor should be placed on the District’s Temporary or Permanent Suspension List.
(4) “”Obligor”” means an entity that has promised or is otherwise legally obligated to perform an act or deed for the benefit of a third party beneficiary. Obligors to the District include but are not limited to insurance companies and surety companies.
(5) “”Principal(s)”” means a sole proprietor, partner, owner, officer, or director of the contractor that materially breached a District contract.
(6) “”Re-procurement costs”” means the total amount of additional expense, which may include administrative costs or attorney’s fees, that the District has or will incur in order to obtain substitute goods or services from another contractor to complete the requirements that the contractor failed to perform in accordance with the District contract.
(7) “”Suspension Notice”” means a written notification from the District informing a contractor that it has not been suspended from doing business with the District or advising a contractor that it has been placed on the District’s Suspension List and is temporarily or permanently suspended from doing business with the District.
(8) “”Suspension List”” means a list of contractors maintained by the District that are temporarily or permanently suspended from doing business with the District.
(9) “”Third-party beneficiary”” means whenever the District is the intended beneficiary of a contract but is not a party to the contract.
Rulemaking Authority 373.610 FS. Law Implemented Florida Statutes § 373.610. History-New 1-5-15.
Terms Used In Florida Regulations 40D-7.002
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) “”District”” means the Southwest Florida Water Management District.
(3) “”Notice to Defaulting Contractor”” means a written notification from the District to a contractor stating that the contractor materially breached a contract with the District for the purposes of this chapter and is being referred to the Governing Board for a determination as to whether the contractor should be placed on the District’s Temporary or Permanent Suspension List.
(4) “”Obligor”” means an entity that has promised or is otherwise legally obligated to perform an act or deed for the benefit of a third party beneficiary. Obligors to the District include but are not limited to insurance companies and surety companies.
(5) “”Principal(s)”” means a sole proprietor, partner, owner, officer, or director of the contractor that materially breached a District contract.
(6) “”Re-procurement costs”” means the total amount of additional expense, which may include administrative costs or attorney’s fees, that the District has or will incur in order to obtain substitute goods or services from another contractor to complete the requirements that the contractor failed to perform in accordance with the District contract.
(7) “”Suspension Notice”” means a written notification from the District informing a contractor that it has not been suspended from doing business with the District or advising a contractor that it has been placed on the District’s Suspension List and is temporarily or permanently suspended from doing business with the District.
(8) “”Suspension List”” means a list of contractors maintained by the District that are temporarily or permanently suspended from doing business with the District.
(9) “”Third-party beneficiary”” means whenever the District is the intended beneficiary of a contract but is not a party to the contract.
Rulemaking Authority 373.610 FS. Law Implemented Florida Statutes § 373.610. History-New 1-5-15.