Wolgast Corporation
NOVEMBER 28, 2022
Liens Can Wreak Havoc on Funding. On top of that, that they expect you, the owner, to guarantee to the Bank and the Title Company that the project will be lien-free during construction. The lien laws protect people that supply the resources to build a building. By Brian Stadler, Wolgast President & CEO.
Levelset
MARCH 21, 2022
Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Protect your lien rights.
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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
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.
Levelset
JUNE 6, 2022
The rate of retention is stipulated in the construction contract and can often be negotiated. 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.
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.
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.
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