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Well, the Court of Civil Appeals of Oklahoma recently held that “furnishing labor is not the same as performing labor” for purposes of filing a mechanic’s lien. The temporary staffing company then executed and filed a materialmen’s lien. The contract does not refer to a particular project.
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In Texas, there are technically two different types of “retainage,” one referred to as such, and the other referred to as “reserved funds.” Texas lien law: ‘Retainage’ or ‘reserved funds’? Texas lien law: ‘Retainage’ or ‘reserved funds’?
If your credit limit hasn’t been raised recently, it may be based on outdated financial statements — the ones you provided when you originally opened the account. Levelset’s Contractor Profiles provide information on a contractor’s payment history, lien claims, and reviews from other contractors and suppliers. Share recent financials.
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As a part of your bond application, you will likely be asked to submit letters of reference from past suppliers, subcontractors, and others with whom you’ve worked in the past. You can calculate your working capital by adding your cash on hand with your accounts receivable that are under 90 days.
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