Levelset

MARCH 21, 2022

Even though the insurance company isn’t your customer, the property owner may be depending on that insurance check to pay for your work. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Levelset

APRIL 28, 2022

While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC. Subcontractor default insurance is one alternative to a surety bond that works to protect a contractor from the financial burden when one of their subcontractors defaults.

Insurance 52

Insurance Contractors Claims ABC 52

NH Construction Law

MAY 28, 2018

Before subcontracting any significant portion of a long term job to someone who isn’t known to be financially solvent, the wise general will ask for proof that the sub can carry the strain of weekly payroll through a monthly requisition procedure, with retainage. How does a GC protect itself? § 5.5(a)(6).)

Subcontracting 40

Subcontracting New Hampshire Lien Insurance 40

Construction Lawyer

MAY 21, 2009

In other words, you use the stuff we post here at your own risk. Subcontractors Mechanics lien allowed where bank seized generals funds. 107108 (May 21, 2009), has ruled in favor of the subcontractor in enforcing a mechanics lien. The owner had hired a general contractor who, in turn, had subcontracted some of the work.

Lien 40

Lien Illinois AIA Chicago 40

Construction Lawyer

JULY 20, 2012

In other words, you use the stuff we post here at your own risk. The question became whether the general or the subcontractor would bear the risk of loss. Although we believe the information is accurate, we do not warrant the accuracy of this information and we do not intend that you rely on this information. Fidelity , 679 F.3d

Illinois 40

Illinois Subcontracting Liability AIA 40

Construction Law Monitor

NOVEMBER 2, 2011

Commonly litigated subcontract provisions. Very important risk-shifiting devices – can determine a win or loss regarding a claim. Insurance can be purchased by prime or sub to cover the indemnity obligation. Lien Waivers. Found in various places within a prime/sub contract. Indemnity Clauses.

Contract 56

Contract Change Orders Lien Contractors 56

Construction Lawyer

MAY 2, 2012

In other words, you use the stuff we post here at your own risk. provided that if arbitration is provided for in the "Contract Documents," Mortenson "in its sole discretion" may demand arbitration of any dispute under the subcontract. The ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY.

Contract 40

Contract Illinois Legal Construction 40