Ten (10) pages of content or longer-term paper with proper accreditation addressing:

Florida's construction defect statute, F.S. 558.001 and the balance of Chapter 558 which became effective on May 27, 2003 has caused considerable confusion among construction practitioners and contractors relating to its procedure and enforcement.

This statute dramatically altered the industry in the litigation of construction defect claims by requiring homeowners to provide contractors and other allegedly responsible parties with prior written notice and an opportunity to cure the alleged defects prior to filing a lawsuit.

Please furnish a summary of the obligations, responsibilities and time limitations imposed on those parties required to serve notice of the defect and those parties receiving notice of the defect.

Discuss both the positive and negative aspects as it relates to both parties concerning the Mutual Exchange of Evidence, the Right to Inspect the Property, Destructive Testing, the Contractor's Failure to Take Any Action, the Contractor's Failure to Honor an Agreement to Make Repairs, and the time limits to complete promised repairs.

Finally, provide a conclusion regarding the effectiveness of this statute and its benefit(s), if any, to the construction industry and the homeowner.