Construction Lawyer

SEPTEMBER 22, 2005

Waivers of liens: fraud. The Bankruptcy Court for the Northern District of Illinois recently ruled that a contractor who falsified waivers of lien engaged in fraudulent conduct and his debt to the bank was non-dischargeable. Listed below are links to weblogs that reference Waivers of liens: fraud : Recent Posts.

Lien 40

Lien Illinois AIA Chicago 40

Levelset

OCTOBER 19, 2022

There are deadlines for invoice submissions for a monthly bank withdrawal. If the contractor doesn’t meet the deadline, the invoice might not be sent to the bank and paid until the following month. Failing to protect lien rights. Information about judgments and liens (i.e., Protect & speed up every payment.

Contractors 98

Contractors Lien Finance Construction 98

Green Building Law Update

JANUARY 24, 2016

In the event of a default, the liability is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder consent is required. There were not similar concerns expressed about commercial loans. Commercial PACE programs are still very new.

Lien 120

Lien Finance Commercial DC 120

Construction Lawyer

APRIL 20, 2009

Idle Equipment not entitled to Lien in Missouri. A Missouri court has affirmed a trial court ruling in favor of a lien claimant, but at an amount reduced by the trial court to reflect the value of the idle time for the equipment. April 20, 2009 in litigation , mechanics liens | Permalink. mechanics liens. 3d 489 (Mo.App.

Lien 40

Lien Missouri Equipment Illinois 40

Construction Lawyer

JULY 22, 2005

Watch for Bank Shield Laws in Dealing with Lenders. A developer found out the hard way about laws that shield banks. According to the plaintiff, the general contractor wound up with the money while the subcontractors were stiffed, resulting in substantial mechanics liens filed against the property. mechanics liens.

Banking 40

Banking Deals Illinois AIA 40

Green Building Law Update

SEPTEMBER 11, 2016

In the event of a default, the amount in default (but not the entire principal of the PACE loan) is a liability that is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder consent to a PACE loan is required. Maryland is typical.

Baltimore 120

Baltimore Maryland Finance Residential 120

Levelset

JUNE 6, 2022

When the $90,000 is paid, it is posted with a debit to the bank or cash account and a credit to accounts receivable, clearing the account for that project. Debit Credit Bank or cash $90,000 Retention receivable $90,000. Debit Credit Bank or cash $10,000 Retention receivable $10,000. How to record retention payable.

Accounting 98

Accounting ABC Banking Liability 98

Construction Lawyer

JUNE 11, 2015

Heritage Bank, 2015 IL App (3d) 140064 (Jan. In a two-to-one opinion, the majority ruled that the lien was invalid because there was no improvement to the land, while the dissent maintained that the engineering services fell squarely within the provisions of the statute and the lien was valid. Meyer , 341 Ill. Rinaker , 185 Ill.

Illinois 40

Illinois Lien Banking Engineering 40

Construction Lawyer

JUNE 11, 2015

Heritage Bank, 2015 IL App (3d) 140064 (Jan. In a two-to-one opinion, the majority ruled that the lien was invalid because there was no improvement to the land, while the dissent maintained that the engineering services fell squarely within the provisions of the statute and the lien was valid. Meyer , 341 Ill. Rinaker , 185 Ill.

Illinois 40

Illinois Lien Banking Engineering 40

Levelset

MAY 23, 2022

Protect your lien rights. Mechanics lien rights are a tool to help the construction industry get paid for its work. In many states, preliminary notices are required to establish the right to file a lien, if needed, for nonpayment. Specialty contractors often serve as a bank for the construction industry.

Cash Flow 59

Cash Flow Lien Accounting Construction 59

Construction Lawyer

OCTOBER 6, 2012

ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. The Illinois First District Appellate Court recently issued its opinion in the case of Bank of New York v. Jurado , which involved competing lien claims.    The plaintiff bank filed suit to foreclose on a mortgage. 

Illinois 40

Illinois Lien Banking AIA 40

Lets Build

MAY 11, 2020

For instance, companies that depend on bank checks and physical forms need to find other means to distribute payment. Handle.com also provides funding for construction businesses in the form of invoice factoring, material supply trade credit, and mechanics lien purchasing.

Industrial 178

Industrial Construction Conference Compensation 178

NH Construction Law

OCTOBER 30, 2021

A few years back I blogged ( #44 ) on the relative priorities of construction mortgages and mechanic’s liens under RSA 447:12-a. Regardless of who recorded first at the registry of deeds, that statute affords priority to mechanic’s liens except in two scenarios. Shawmut Bank , 139 N.H. 50 (1994), says that it is not.

Lien 40

Lien Construction Banking Claims 40

NH Construction Law

FEBRUARY 25, 2023

A common feature of residential construction loans is the requirement for periodic inspections of the progress of work, usually by an independent inspection company hired by the bank, before disbursements are made. New Hampshire Savings Bank , 131 N.H. ” And such a voluntary undertaking is exceedingly rare.

Banking 40

Banking Inspections Construction Lien 40

Contractor Bookkeeping

MARCH 9, 2013

Sending the Notice to Owner of Intent To Lien to protect my financial interests. Enter banking transactions including EFT, ACH, NSF, checks, debits and automatic payments. Enter banking transfers between checking and savings accounts. Watch for fraudulent charges on bank and credit card statements. Enter bank deposits.

Contractors 49

Contractors Cash Flow Banking Change Orders 49

Contractor Bookkeeping

JUNE 15, 2012

Go To Your Bank - And they offer you a line of credit. Bank Accounts - Set up two bank accounts in your company name. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. It is a must have to borrow money from a bank.

Contractors 48

Contractors Insurance Claims Lien 48

Levelset

APRIL 5, 2022

In this article, we’ll explore some strategies to help you keep money in the bank. You can save your existing cash reserves to cover payroll and overhead costs, and the extended repayment terms ensures that you’ll have project income in the bank when the bill comes due. This policy lets you know when to send notices and file a lien.

Cash Flow 52

Cash Flow Finance Construction Materials 52

Construction Law Monitor

APRIL 10, 2014

This phase also includes sending out notices and filing liens, in a timely manner and properly. Further, the attorney can garnish banking and physical assets of the business. For contractors, suppliers and equipment lessors that I represent, this pre-collection phase is essential to keeping the accounts receivable low. Conclusion.

Debt 56

Debt Commercial Accounting Louisiana 56

Contractor Bookkeeping

JUNE 20, 2014

Go To Your Bank - And they offer you a line of credit. Bank Accounts - Set up two bank accounts in your company name. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. It is a must have to borrow money from a bank.

Insurance 48

Insurance Construction Claims Accounting 48

Construction Lawyer

MAY 20, 2009

Subcontractors Mechanics lien allowed where bank seized generals funds » May 20, 2009. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. mechanics liens. « Where owner does not pay undisputed amounts, contractor is entitled to attorneys fees | Main. Liability for green design. Categories.

Liability 40

Liability Green Design Illinois 40

Construction Lawyer

JULY 24, 2009

« Subcontractors Mechanics lien allowed where bank seized generals funds | Main. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. mechanics liens. Fifth Circuit holds that manifest disregard is not basis for reversal » July 24, 2009. LEED project managment software. Categories. arbitration.

Project Management 40

Project Management Software Software Management 40

Levelset

AUGUST 15, 2022

Where do they bank? It is possible to purchase credit reports from credit bureaus within the industry, which may say if the company has a history of paying its bill on time or not — as well as if the company has any active negative filings on its record, like mechanics liens. “I I want to know who I am doing business with.

Construction 52

Construction Lien Contractors Management 52

Levelset

AUGUST 16, 2022

The surety is also likely to explore a contractor’s payment history on past projects — an inability to make on-time payments to subcontractors and suppliers can increase the risk of mechanics liens or bond claims. . Sureties calculate working capital more conservatively than other credit providers or banks. Learn More.

Risk 52

Risk Cash Flow Construction Banking 52

Contractor Bookkeeping

JANUARY 2, 2015

Did You Go To Your Bank - And they offered to give you a line of credit. Bank Accounts - Set up two bank accounts in your company name. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. This is getting very stressful.

Construction 48

Construction Insurance Accounting Claims 48

Contractor Bookkeeping

OCTOBER 4, 2013

Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The really good news they are on the banks payroll. How can you and the bank help me run my business more profitably? Cash flow issues kill contractors even though they have profit.

Profitability 49

Profitability Construction Accounting Cash Flow 49

Construction Lawyer

JULY 22, 2005

Watch for Bank Shield Laws in Dealing with Lenders » July 22, 2005. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. mechanics liens. « Kelo Song | Main. Supreme Court Nominees Construction Decisions. TrackBack URL for this entry: [link]. Does Equitable Estoppel apply to a Municipality?

Illinois 40

Illinois AIA Construction Chicago 40

Construction Lawyer

JULY 22, 2005

« Watch for Bank Shield Laws in Dealing with Lenders | Main. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. mechanics liens. Design Delegation » July 22, 2005. No Arbitration for Aesthetic Effect. A recent South Dakota case, Flandreau Public School District v. Add me to your TypePad People list.

AIA 40

AIA Illinois South Dakota Chicago 40

NH Construction Law

OCTOBER 22, 2023

It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. Reading Cooperative Bank v. Suffolk Construction Co. , 543, 553, 984 N.E.2d

Security 40

Security Contract Accounting Construction 40

Levelset

AUGUST 5, 2022

If your clients are slow to pay (a common problem in construction), you need to know your legal rights, including the right to file a mechanics lien. State laws differ when it comes to whether design professionals have lien rights , so before you begin work, do your research.

Architecture 52

Architecture Cash Flow Income Lien 52

Buisness Facilities Contributed Content

APRIL 15, 2014

CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. Many small businesses that are not able to receive traditional bank financing can get support through CEF. CALIFORNIA – updated for 2014.

Income 108

Income Finance Zoning Employment 108

Buisness Facilities Contributed Content

MARCH 21, 2014

CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. The COMMERCIAL FISHING AND AGRICULTURE BANK provides loans to fishing, tourism, natural resources and agriculture-based projects.

Income 75

Income Finance Zoning Equipment 75

Autodesk Construction Cloud

MAY 5, 2023

You can also integrate time keeping to Autodesk Build Performance Tracking to guarantee that the hours spent on the job are logged accurately. Xero: Xero is a cloud-based accounting software with a range of features to help you stay on top of your books—including invoicing, bank reconciliation, inventory management, payroll, and expense tracking.

Office 52

Office Autodesk Accounting Project Management 52

Buisness Facilities Contributed Content

MARCH 8, 2016

Community Development Financial Institutions (CDFI): Provides micro-loans to businesses who often do not qualify for bank loans, as well as one-on-one counseling and business development assistance to facilitate credit-readiness. Typical financing structure: 50% Bank Loan. 40% JDA Loan. 10% Borrower Equity.

New York 40

New York Finance Products Commercial 40

Buisness Facilities Contributed Content

JULY 11, 2014

Loans are made by the Bank of North Dakota and are guaranteed by the Export-Import Bank of the United States utilizing their medium-term credits program. The Bank of North Dakota (BND) provides some of the lowest interest rates in the nation through this program. Community financial institutions may participate in the loans.

North Dakota 40

North Dakota Income Finance Equipment 40

Buisness Facilities Contributed Content

MARCH 8, 2016

Loans are made by the Bank of North Dakota and are guaranteed by the Export-Import Bank of the United States utilizing their medium-term credits program. The Bank of North Dakota (BND) provides some of the lowest interest rates in the nation through this program. Community financial institutions may participate in the loans.

North Dakota 40

North Dakota Income Finance Equipment 40

Levelset

JULY 19, 2022

Obtain a business bank account and any software or staff you’ll need for accounting and bookkeeping. In the end, your business is a collection of many different processes—from simple phone greetings to deciding whether to file a mechanics lien for non-payment. Get the proper license and insurance according to your state’s requirements.

Cash Flow 52

Cash Flow Accounting Profitability Residential 52

Levelset

JULY 18, 2022

Obtain a business bank account and any software or staff you’ll need for accounting and bookkeeping. In the end, your business is a collection of many different processes — from simple phone greetings to deciding whether to file a mechanics lien for non-payment.

Cash Flow 52

Cash Flow Accounting Profitability Legal 52