Remove Accounting Remove Commercial Remove Legal Remove Lien
article thumbnail

7 Things Contractors Need to Know About Retainage

Fieldwire

It’s fairly common, especially on commercial and public construction projects, and typically ranges from 5 - 10% of the total contract price. For many construction businesses, the retainage payment accounts for their entire profit margin on the project. Mechanics lien laws have specific deadlines that contractors must follow.

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. Any subsequent square-up was between lender and borrower, and not the account debtor’s concern. Not unless he is prepared to pay twice!

professionals

Sign Up for our Newsletter

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

article thumbnail

constructionattorneyblog: illinois supplier denied mechanics lien

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. A Legally Inclined Weblog. >. National City Mortgage v.

Lien 40
article thumbnail

Commercial Debt Collection – How Do I Collect When A Company Owes Me Money?

Construction Law Monitor

The legal and business world assume that the B2B relationship and players are more sophisticated. Most business think that when an account is overdue, then they call up a debt collection agency and the debt will be collected or its deemed bad debt. Delinquent Accounts Can Ruin A Business – Put An End To Them.

Debt 56
article thumbnail

Idle Equipment not entitled to Lien in Missouri

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. A Legally Inclined Weblog. >. Concord , 269 S.W.3d

Lien 40
article thumbnail

constructionattorneyblog: Subcontractor's Mechanics lien allowed.

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. A Legally Inclined Weblog. >. University of St.

Lien 40
article thumbnail

constructionattorneyblog: ILLINOIS APPELLATE COURT DEEMS.

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. A Legally Inclined Weblog. >.