Remove Claims Remove Consulting Remove Lien Remove Negotiation
article thumbnail

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

Levelset

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. An assignment of benefits , or AOB, is an agreement to transfer insurance claim rights to a third party. AOBs take the homeowner out of the claims equation. Setting up an AOB.

article thumbnail

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

Levelset

On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. This snapshot won’t provide you with the information needed to have a deeper understanding of how everything works if a customer suffers property damage and considers filing a claim.

professionals

Sign Up for our Newsletter

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

article thumbnail

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

Levelset

On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. This snapshot won’t provide you with the information needed to have a deeper understanding of how everything works if a customer suffers property damage and considers filing a claim.

article thumbnail

Federal Court dismisses sub's claim against GC because of arbitration

Construction Lawyer

You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. Federal Court dismisses subs claim against GC because of arbitration provision. Because LaSalle was not in privity of contract with USACE, LaSalle needed VETS to sponsor its claim against them.

Claims 40
article thumbnail

Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice. Get Organized - Pick a company name that says something about what you are doing.

article thumbnail

Common Law Analysis – Pay-if-paid, Pay-when-paid & Liquidating Agreements in Construction Contracts

Construction Law Monitor

The Sloan court defines a liquidating agreement clause as a “process by which a general contractor may assert the claims of its subcontractors against the owner.” A liquidating agreement clause can act like a lien, in that it gives causes of action to the subcontractor against the owner where there is no privy of contract.

article thumbnail

New Contractor Business Start Up

Contractor Bookkeeping

We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice. Get Organized - Pick a company name that says something about what you are doing.