Agreement Legal Lien Risk 
Construction Marketing
JULY 11, 2022
Surety bonds are financial guarantees that are issued to ensure the individual or company who obtains the bond will perform work in a legally compliant manner and will avoid fraud and misconduct. Surety – The bonding company that guarantees the principal’s ethical operations and legal compliance by issuing the bond.
Fieldwire
AUGUST 14, 2023
The practice dates back to the 1840s, dreamed up as a measure to reduce the owner’s risk and ensure that the project is fully completed according to the job specifications. It is governed by the contract, which means it’s part of the agreement between two parties. In some cases, states do make specific exceptions for retainage liens.
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Levelset
APRIL 15, 2022
An assignment of benefits , or AOB, is an agreement to transfer insurance claim rights to a third party. A property owner and contractor can set up an assignment of benefits in two steps: The owner and the contractor sign an AOB agreement The contractor sends the AOB to the insurance company. The AOB agreements need to be in writing.
Best Practices Construction Law
JUNE 15, 2022
shifting the risk of nonpayment … “Payment from the Owner to the Contractor is a condition precedent to payment from the Contractor to the Subcontractor.”). Generally, most states that have addressed the issue allow “pay if paid” clauses so long as there is clear and unambiguous language shifting the risk of non-payment to the subcontractor.
Green Building Law Update
AUGUST 16, 2020
That language accomplishes next to nothing for the seller or buyer and may only serve to mitigate risk for the real estate brokers. You understand and agree that this is a lease and not a sale agreement. That fixture filing is in most states a lien or encumbrance against the system.
Construction Lawyer
MARCH 13, 2012
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. In other words, you use the stuff we post here at your own risk. A Legally Inclined Weblog. >.
NH Construction Law
FEBRUARY 25, 2023
If the Seymour case shuts out a claim against the bank, do owner/borrowers have a legal claim against the inspector, with whom they have no contract? That puts the owner/borrower in a pickle. Don’t count on it. In Coachman Estates of Barrington, LLC v. REI Service Corporation , No.
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