Building Code Administrators and Inspectors Florida Principle and Practice Licensure Practice Exam

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What is the minimum contract amount requiring filing a notice of commencement?

$1,000
$2,500
$3,500
$5,000

The correct answer is: $2,500

The minimum contract amount requiring the filing of a notice of commencement is set at $2,500. This threshold is important because it establishes the point at which the official documentation must be submitted to provide legal notice of the construction project. The notice of commencement serves to protect the rights of contractors, subcontractors, and suppliers by providing public notification of the project and often plays a crucial role in ensuring that liens can be enforced against the property in case of non-payment. Understanding this threshold is essential for compliance with state regulations and for safeguarding the interests of those involved in the construction process. This knowledge helps in proper project planning and legal preparedness within the construction industry in Florida.