Torres Electrical Supply Company, a Florida-based corporation, has filed a lawsuit against Developers Surety and Indemnity Company, a foreign insurance entity. The complaint was lodged in the Circuit Court of the Sixth Judicial Circuit in Pinellas County, Florida on October 7, 2024. Torres Electrical Supply is seeking to recover $476,125.86 from Developers Surety and Indemnity Company under Section 255.05 of the Florida Statutes Payment Bond.
The plaintiff, Torres Electrical Supply Company, claims that they provided construction materials for a project contracted by New Era Electric Inc., which was secured by a payment bond issued by Developers Surety and Indemnity Company. The materials were supplied for improvements known as the Countywide Mast Arms-Group 2 PID #004183A following an agreement dated April 13, 2023. Despite fulfilling all conditions precedent and statutory prerequisites required under Florida law to perfect their claim, Torres alleges that they have not been paid for the materials delivered between August 8, 2023, and February 15, 2024.
According to the complaint, New Era Electric Inc., acting as Principal with Developers Surety as Surety, executed a payment bond valued at $2,983,627.87 for this project. However, Torres Electrical Supply asserts that their invoices totaling $476,125.86 remain unpaid despite numerous demands for payment made to New Era Electric Inc., who accepted and incorporated these materials into the project.
The plaintiff contends that they have complied with all necessary legal requirements and are entitled to recovery under the terms of the payment bond issued by Developers Surety and Indemnity Company. They seek judgment from the court for damages amounting to $476,125.86 plus interest from February 15, 2024. Additionally, Torres Electrical Supply requests compensation for attorney's fees not exceeding $20,000 and other related costs incurred during these proceedings.
Representing Torres Electrical Supply is attorney Barry Kalmanson of Professional Ag with primary contact via email at bk@barrykalmanson.com. The case is presided over by Judge Ken Burke in Pinellas County under Case Number: 24-004467-CI.