This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
If you receive a notice that a lien has been filed on your property, you may wonder how it will affect your credit score and your ability to borrow money or get credit. Mechanics liens are different from other collection instruments, so they are treated differently when it comes to reporting on your credit history. What is a lien?
Levelset is excited to team up with American Express to provide our trusted lien rights management tools to eligible merchants who accept American Express [at a discount]. Our solutions are designed to simplify and streamline the lien management process, providing unparalleled support and efficiency.
So how can companies optimize for their bottom line without putting their businesses at risk? . Firms that want to stay both competitive and resilient in an evolving economic landscape need a strong risk management strategy – yet this is easier said than done. Risk management is a multifaceted challenge.
A mechanic’s lien is a legal claim against a property for unpaid work or materials provided during construction or renovation. Understanding how mechanic’s liens work, including your rights and obligations, is crucial for anyone involved in construction projects, whether you’re a contractor, subcontractor, or property owner.
However, smaller construction businesses are much less likely to prequalify their customers than larger businesses — and that could increase the risk of slow payment. Get information about their credit history. A preliminary notice informs property owners that a contractor, supplier, or equipment lessor is working on a project.
However, before starting work on a building financed with a construction-to-permanent loan, both property owners and contractors need to understand the risks. Contractor risks with a construction-to-permanent loan. There are common risks that are prevalent in every construction loan program. Failing to protect lien rights.
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.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. LEXIS 153 (2nd Dist.,
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. University of St.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
An architect, designer, or design-bid contractor will perform planning and engineering services for a prospective project owner, providing them with the information they need to move forward. This information helps the client determine whether the project is feasible for their needs—something that is incredibly valuable to find out early.
If you learn that you need to purchase a surety bond to work as a contractor or to enter into a contract to perform work on a project, here is some information you should know about surety bonds and how they work for contractors. If the surety company determines that you pose a low risk, you will likely receive a low premium quote.
There are many examples such as “punch-list,” “lien” and “substantial completion” to name a few. Construction Change Directive: Risks and Rewards. The owner has to weigh the risks and rewards with taking such bold move in order to get what it wants. No words are more dreaded than change order.
There are many examples such as “punch-list,” “lien” and “substantial completion” to name a few. Construction Change Directive: Risks and Rewards. The owner has to weigh the risks and rewards with taking such bold move in order to get what it wants. No words are more dreaded than change order.
Protect your lien rights. Mechanics lien rights are a tool to help the construction industry get paid for its work. The first step to this is sending a preliminary notice, which informs the property owner of work on their projects. Eliminate any questions about the costs of jobs, labor, and payments by tracking every dollar.
The inherent business-breaking risk can even lead many subcontractors to refrain from bidding on projects if a general contractor or an owner has a reputation for slow payments. Increasing financial risk. High compliance risk. Moreover, manual payment processes also increase compliance risk. Why Payapps?
They’ll submit bid packages, answer requests for information from contractors, and then receive and review the bids to help the project owner make a decision. Financial risks to contractors during performance and monitoring. The architect and the project owner will work closely together to finalize the drawings. Learn more.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk.
As you may be aware, one of the greatest risks on a construction project involves the payment process. Contractors have a means of shifting the risk of non-payment by the owner to its subcontractor by including a certain payment provisions in the subcontract agreement.
This comprehensive construction glossary for 2024 covers essential terms and concepts that will keep you informed and help you stay competitive in the field. These documents often include information on electrical, plumbing, and structural changes. For more information on managing contingency in construction, check out this guide.
This means that companies could be reporting false information on their financial statements, which could lead to penalties and interest owed if they are subject to a tax audit. Contractors must weigh whether to use a mechanics lien to protect their payment rights. Learn more with The Ultimate Guide to Construction Accounting.
Levelset’s Contractor Profiles provide information on a contractor’s payment history, lien claims, and reviews from other contractors and suppliers. Another option is to give the vendor a copy of your lien policy , which shows what actions you will take to collect payments from your customers. Get more trade preferences.
For contractors, the issues often start with a lack of credit applications: “Most [contractors] rely on the proposal or contract, which does not provide all the information necessary to assess the customers,” Dudley says. I need emails, contact for AP, or ownership information. View profile. 33 years experience. 5 articles.
A liquidating agreement clause can act like a lien, in that it gives causes of action to the subcontractor against the owner where there is no privy of contract. A google search of these terms will provide a wealth of information. Click here for Daniel S. Brennan’s The Construction Contracts Book. Liquidating Agreement.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
Industry data indicates that 83% of contractors have filed liens because of delayed payments and 46% wait 60 to 90 days for payment. Risk of Disputes. When you don’t have the right information, you’ll find it difficult to make critical decisions quickly, ultimately hurting your performance. . Mobile-First and Easy to Use.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information is very helpful to contractors and can be used a resource when a contractor begins the contracting phase of a construction project to help get a better understanding of what is going on within the contract documents. Very important risk-shifiting devices – can determine a win or loss regarding a claim.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. mechanics liens.
We organize all of the trending information in your field so you don't have to. Join 116,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content