Remove Agreement Remove Lien Remove Negotiation
article thumbnail

7 Things Contractors Need to Know About Retainage

Fieldwire

Retainage is up for negotiation Retainage is not set in stone. It is governed by the contract, which means it’s part of the agreement between two parties. Every contract is negotiable, including what percentage is retained and for how long. Mechanics lien laws have specific deadlines that contractors must follow.

article thumbnail

The Bird Box Dilemma: When False Pay Apps and Lien Waivers Are Not Fraudulent Inducement

Best Practices Construction Law

Under Massachusetts law (like most states), in order to prevail on a claim for fraudulent inducement, a plaintiff must allege a false representation, material to the negotiations, upon which the plaintiff reasonably relied in entering into an agreement with the defendant.

Lien 71
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Navigating the Waters Beyond Construction Law: Unveiling the Ties Between Construction and Maritime Liens

Federal Construction Contracting Blog

In this blog post, we will explore the intricate relationship between these two legal realms by diving into a primer on maritime liens. As you navigate these intertwined industries, understanding the nuances of maritime law, particularly maritime liens, becomes critical.

Lien 52
article thumbnail

Common Law Analysis – Pay-if-paid, Pay-when-paid & Liquidating Agreements in Construction Contracts

Construction Law Monitor

Liquidating Agreement. Another technical term that is not often discussed in construction, yet is present in many construction contracts is the mechanism know as a “liquidating agreement” Sloan pg 16. Do not confuse a liquidating agreement with liquidated damages. Brennan’s The Construction Contracts Book.

article thumbnail

Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB

Levelset

An assignment of benefits , or AOB, is an agreement to transfer insurance claim rights to a third party. It gives the assignee authority to file and negotiate a claim directly with the insurance company, without involvement from the property owner. The AOB agreements need to be in writing. What is an assignment of benefits?

article thumbnail

Payment of Retainage with “conditions attached” Deemed Non-Payment

Best Practices Construction Law

the dispute involved the parties’ separate agreement wherein the contractor committed to pay the subcontractor for delay damages that were beyond the subcontractor’s reasonable control. In the same letter as its refusal, the contractor said it would release the retainage payment “which was pending receipt of a Waiver of Lien.

Vermont 54
article thumbnail

Litigation Topics for Prime / Subcontractor Contracts

Construction Law Monitor

Here both parties need to negotiate terms to better protect when a dispute arises. A good subcontractor will have his attorney review any agreement to make sure that the deal is an even one. Lien Waivers. Contracts between prime/general contractors and their subcontractors make up a vital link in the construction project chain.