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Over the past holiday season, I was at a Christmas party discussing with a friend of mine who runs an electrical supply company here in South Louisiana, the intricacies of notice provisions before a company like his can file a lien on a private project. Part of the privileged class under the Louisiana Private Works Act (La R.S.
True: deadlines dictate when it comes to securing your lien rights. In the construction world, there is no doubt that the deadlines for securing your lien rights are rigid and unforgiving. If you have not filed your lien by the applicable date, you have relinquished that right permanently. The “Back Door Lien”.
A mechanic’s lien is a last-resort measure used by construction procurers to obtain payment withheld by a client. In this day and age, however, many clients harbor valid concerns about fraudulent liens, especially considering Louisiana’s loose requirements for filing a mechanic’s lien. Conditional; 2.Unconditional;
Here at Wolfe Law Group , I have been blogging a lot lately on liens for both public and private projects ( See other posts here ). Since the state owns the land, there are no security devices , such as a lien that can attach to the land and call for its foreclosure in the event of default or non-payment.
mechanic’s lien is a last-resort measure used by construction procurers to obtain payment withheld by a client. In this day and age, however, many clients harbor valid concerns about fraudulent liens, especially considering Louisiana’s loose requirements for filing a mechanic’s lien. Conditional; 2.Unconditional;
Louisiana State Capitol, Baton Rouge (Photo credit: Wikipedia). This legislative session, there are several proposed changes in Louisiana construction law, all of which may critically impact how contractors do business in this state. This post is the first of two parts discussing those changes.
Here in Louisiana, contractor licensing law is governed by the State Licensing Board for Contractors (SLBC). The application needs to include the following information in addition to proof of workers compensation insurance: (B)(1) The applicant’s name, home address, business address, and social security number. (2) See La R.S.
Here in Louisiana, just as in many jurisdictions, there are certain rights or privileges which are bestowed on certain types of individuals or entities. A common example that we blog about here is the, Statement of Claim and Privilege , a Louisianalien. Lessors Privilege. ” La C.C. ” La C.C.P.
In common terms, the PWA allows you to lien property in order to secure your right to payment. The notice of contract filing is important because, depending on the amount of the contract, the filing date will determine the time period in which one can file a lien. Louisiana Revised Statute 9:4831.
Growing up in South Louisiana, originally from Baton Rouge and now residing in New Orleans, I’ve had a really rough week being a sports fan. When then end of the project rolled around, there would be no substantial competion filed, no adequate demand for payment , no lien filed or any other tool used to secure payment.
Continuing the state’s long-standing focus on infrastructure spending focused on environmental well-being, Louisiana Governor John Bel Edwards announced in April 2022 that the state would be allocating $150 million in surplus state funding towards coastal restoration and protection projects. Payment protection on Louisiana public projects.
Contractors on public projects aren’t allowed to file mechanics liens when payment problems arise. Instead, public construction projects need to secure a payment bond prior to the start of work. Additionally, performance bonds need to be secured if the contract is in excess of $100,000. Working in nearby Louisiana?
The Participating Lender sets all the terms and conditions of the loan (including premium levels, maturity dates, fixed or variable interest rates, secured or unsecured, amortization schedule, etc.) The Securities Industry and Financial Markets Association tracks the weekly average municipal interest rate from 2000 to current.
FOREIGN TRADE ZONES (FTZs): Secured areas legally outside of U.S. The company’s obligation to repay the loan is secured by a direct-pay Letter of Credit from a bank rated ‘A’ or better. The private sector participant finances 50 percent of the project cost and takes a first lien on assets pledged as collateral.
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