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You Risk Paying Twice When Sub-Contractors Don’t Pay Their Bills

Wolgast Corporation

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.

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Idle Equipment not entitled to Lien in Missouri

Construction Lawyer

Idle Equipment not entitled to Lien in Missouri. A Missouri court has affirmed a trial court ruling in favor of a lien claimant, but at an amount reduced by the trial court to reflect the value of the idle time for the equipment. April 20, 2009 in litigation , mechanics liens | Permalink. mechanics liens.

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PACE Programs are Stepping Up the Pace

Green Building Law Update

In the event of a default, the liability is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder consent is required. There were not similar concerns expressed about commercial loans. Commercial PACE programs are still very new.

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How to Avoid Running Out of Cash on a Construction Project

Levelset

In this article, we’ll explore some strategies to help you keep money in the bank. You can save your existing cash reserves to cover payroll and overhead costs, and the extended repayment terms ensures that you’ll have project income in the bank when the bill comes due. This policy lets you know when to send notices and file a lien.

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constructionattorneyblog: ILLINOIS APPELLATE COURT DEEMS.

Construction Lawyer

ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. The Illinois First District Appellate Court recently issued its opinion in the case of Bank of New York v. Jurado , which involved competing lien claims.    The plaintiff bank filed suit to foreclose on a mortgage. 

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4 Factors Underwriters Consider When Issuing a Construction Bond

Levelset

Contractors need to be able to show the surety that they can perform the work on the project , including the ability to track job costs on a daily or weekly basis and having the right equipment and personnel to handle the various tasks. Sureties calculate working capital more conservatively than other credit providers or banks.

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6 Ways the COVID-19 crisis will reshape the construction industry

Lets Build

For instance, companies that depend on bank checks and physical forms need to find other means to distribute payment. News about hospitals going over their capacity and shortages in personal protective equipment is quite common as the crisis reaches its peak. Health and hygiene practices will be emphasised.