article thumbnail

#130:  Secured Lenders' Rights to Construction Contract Payments

NH Construction Law

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. A draft Bill is in my desk draw, if anyone at the State House cares to call me.)

article thumbnail

Digital Builder Podcast Ep 22: How Specialty Contractors Can Navigate Contracts & Get Paid On Time

Autodesk Construction Cloud

Karalynn also brought up the tendency of the industry to pass liability down the chain when drawing up contracts. The shifting of risk and liabilities is a very common practice when drafting contracts. A mechanic’s lien works the same way,” says Karalynn. “If ” —Karalynn Cromeens, The Cromeens Law Firm. No one does that.

professionals

Sign Up for our Newsletter

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

article thumbnail

7 Steps to Successful Project Closeout

Autodesk Construction Cloud

As the days pass and your project draws to a close, you’re ready to chalk this one up as a success and prepare for your next challenge. Key closeout documents like warranties, cut-sheets, lien releases, and facilities training documents come in all different formats, at different times, all towards the end of the project.

article thumbnail

A Primer on MasterFormat & Improving Construction Project Collaboration

Building Information Management

00 01 15 List of Drawing Sheets. Measured Drawing Information. 00 01 15 List of Drawing Sheets. Measured Drawing Information. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form. 02 21 16 Measured Drawings. 01 33 29.05

article thumbnail

A Primer on MasterFormat & Improving Construction Project Collaboration

Building Information Management

00 01 15 List of Drawing Sheets. Measured Drawing Information. 00 01 15 List of Drawing Sheets. Measured Drawing Information. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form. 02 21 16 Measured Drawings. 01 33 29.05