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7 Things Contractors Need to Know About Retainage

Fieldwire

For many construction businesses, the retainage payment accounts for their entire profit margin on the project. Retainage does not extend the mechanics lien deadline A mechanics lien is perhaps the most powerful tool that contractors have to force payment. Mechanics lien laws have specific deadlines that contractors must follow.

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#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!

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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 information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. A Legally Inclined Weblog. >. illinois supplier denied mechanics lien. National City Mortgage v.

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Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB

Levelset

If the insurance company is dragging their feet, a restoration contractor can still likely file a mechanics lien on the property. The average collection period for receivables measures the average time it takes you to get paid on your open accounts. AOBs and mechanics liens. Alex Benarroche.

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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 information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. A Legally Inclined Weblog. >. Idle Equipment not entitled to Lien in Missouri. 3d 489 (Mo.App.

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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 information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. A Legally Inclined Weblog. >. Subcontractors Mechanics lien allowed where bank seized generals funds.

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A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?

Levelset

Generally, insurers use one of two methods to put a dollar figure on the damage: Replacement cost : The insurer pays the cost of rebuilding or repairing the home, without accounting for depreciation. But for many types of work, restoration contractors have the right to file a lien on their property if they fail to pay. Know your role.