Fieldwire

SEPTEMBER 5, 2023

With progress billing, contractors submit a new payment application before the deadline of each pay period for the work completed and materials purchased in that period. Conditional lien waivers : A lien waiver is a document that waives the signing party’s right to file a mechanics lien.

Lien 98

Lien AIA Documentation Change Orders 98

Levelset

MARCH 21, 2022

Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. Since most job costs will be incurred before you receive payment, it’s possible that you won’t have enough cash on hand to cover those expenses, like payroll and materials purchases. Protect your lien rights.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Construction Law Monitor

MAY 3, 2013

True: deadlines dictate when it comes to securing your lien rights. In the construction world, there is no doubt that the deadlines for securing your lien rights are rigid and unforgiving. If you have not filed your lien by the applicable date, you have relinquished that right permanently. The “Back Door Lien”.

Lien 64

Lien Contract Accounting Louisiana 64

Construction Law Monitor

JANUARY 4, 2012

Over the past holiday season, I was at a Christmas party discussing with a friend of mine who runs an electrical supply company here in South Louisiana, the intricacies of notice provisions before a company like his can file a lien on a private project. MATERIAL SUPPLIERS ( see La R.S. 9:4801 et al ), are suppliers. 9:4802(G)(1) ).

Lien 76

Lien Louisiana Leases Equipment 76

Levelset

AUGUST 25, 2022

Texas lien law: ‘Retainage’ or ‘reserved funds’? In 2021, Texas enacted some sweeping changes to the mechanics lien process effective on projects where the original contract was entered into on or after January 1, 2022. The main changes came in the form of simplified notice procedures and lien filing deadlines.

Texas 52

Texas Lien Claims Contract 52

Levelset

JUNE 16, 2022

When payment problems come up, contractors on public projects can’t turn to the mechanics lien for the solution — both the federal and state governments prohibit private companies from gaining interest in public property. Instead, general contractors on public construction projects have to secure a payment bond prior to the start of work.

New Jersey 52

New Jersey Lien Claims Contract 52

Levelset

JUNE 3, 2022

Contractors on public projects aren’t allowed to file mechanics liens when payment problems arise, as both the federal and state governments explicitly prohibit private entities from claiming an interest in public property. However, contractors have to follow certain steps in order to keep their payment rights secure on public works projects.

Washington 52

Washington Claims Lien Contract 52

Levelset

MAY 11, 2022

Generally, companies aren’t able to file mechanics liens on public projects unlike with private projects, as the federal government — and many states — prohibit private entities from claiming an interest in public property. New York City has additional rules for payment protection as well. times the amount owed.

New York 52

New York Claims New York City Lien 52

Federal Construction Contracting Blog

MAY 9, 2022

On a private project, a subcontractor may file a mechanic’s lien to secure its right to payment. However, when the owner is the federal government, a subcontractor has no lien rights. A first-tier supplier is a material supplier that has contracted directly with the prime contractor.

Claims 52

Claims Contract Lien Materials 52

Construction Dive

JUNE 11, 2014

By Bruce Jervis Companies selling equipment or materials to construction contractors face a unique challenge. Payment security may exist in the form of public works payment bonds or private materialman’s liens, but there is a problem. Many suppliers of equipment and materials sell to constructors on an open account.

South Dakota 51

South Dakota Lien Claims Products 51

Fieldwire

AUGUST 6, 2023

Patrick is the CEO at Handle.com which builds software that helps contractors, subcontractors, and material suppliers secure their lien rights and get paid faster. In this guest blog post for Fieldwire, Patrick Hogan explains five common challenges project managers face on construction projects.

Project Management 98

Project Management Management Construction Budgeting 98

NH Construction Law

FEBRUARY 25, 2023

The idea is that the loan disbursements should pay only for properly completed work (or suitably stored materials on site), and the inspector better able than the homeowner/borrower to gauge this. REI Service Corporation , No.

Banking 40

Banking Inspections Construction Lien 40

Levelset

APRIL 1, 2022

Materials, insurances, permits, payroll, and other typical costs are relatively simple to account for. Whether it’s tools stolen from a job site or specialized materials or appliances, the impacts of construction site theft are expensive. Secure the site. The most obvious move is to secure the site. Insurance claims.

Site 52

Site Cash Flow Insurance Construction 52

Levelset

FEBRUARY 10, 2022

This includes more in-depth sketches and elevations, as well as choosing finishes and materials. They’ll respond to RFIs about materials, specifications, and drawings to help the contractors develop accurate bids. In many cases, the budget will include cost-saving alternative materials and designs. Required materials.

Risk 52

Risk Feasibility Bidding Budgeting 52

Autodesk Construction Cloud

FEBRUARY 1, 2024

According to a 2023 subcontractor market report, 73% of subcontractors come out-of-pocket for materials before receiving payment from the GC or owner. If information is missing, overlooked or there’s no audit trail, contractors could face contract and legal penalties in addition to potential fraud and security issues.

Autodesk 87

Autodesk Cash Flow Construction Risk 87

Green Building Law Update

SEPTEMBER 11, 2016

The concept is not new, but nationally including in Maryland, “residential” PACE programs were put on hold as a result of a directive in 2011 that Fannie Mae and Freddie Mac refrain from purchasing mortgage loans secured by properties with outstanding PACE obligations. Commercial PACE programs are still very new.

Baltimore 120

Baltimore Maryland Finance Residential 120

HardHatChat

JULY 7, 2010

Secure the outside of the building and property. Make sure the interior is secure, too. Money – To keep your construction budget in check once the project starts back up you should plan for the following: Secure construction materials so you don’t have to pay twice. Shut off the water. Questions?

Commercial 166

Commercial Site Construction Security 166

Construction Law Monitor

MAY 14, 2013

There are currently three bills in various stages of the legislative process that would significantly change how different parties secure their rights to payment. Securing and maintaining the proper licensing and registration is incredibly important in the construction world here in Louisiana. Proposed Changes to the Private Works Act.

Louisiana 60

Louisiana Lien Claims Construction 60

Construction Law Monitor

NOVEMBER 6, 2015

In the construction industry, we speak a lot about the filing of a mechanic’s lien. In the event a government project goes sour, contractors and materials suppliers must turn to the Miller Act , or its parallel state legislation, as a remedy. But what if you are working on a public project? Similarly, a “Little Miller Act” is a U.S.

Lien 40

Lien Claims Materials Contractors 40

Autodesk Construction Cloud

NOVEMBER 15, 2021

The difference between secured and unsecured debts. What this tries to do is shift the risk of material price increases to the general contractor, and then from the general to the subs.”. The GMP contract can cause challenges if it doesn’t allow contractors to increase what they’re charging when material costs rise.

Contract 52

Contract Contractors Negotiation Subcontracting 52

Levelset

AUGUST 16, 2022

Here are some factors you should consider to increase your chances of success with a potential project and your ability to secure a construction bond. Get materials now, keep your cash. Enjoy 120-day payback terms with any material supplier. Scope of work compared with past projects. Learn More.

Risk 52

Risk Cash Flow Construction Banking 52

Levelset

JUNE 27, 2022

Securing mechanics lien rights isn’t just as simple as filing a document — it’s a process. Illinois in particular handles the amounts a subcontractor can file a lien for very differently than most other states. Each state has varying degrees of rules and requirements that must be met.

Illinois 52

Illinois Lien Claims Contractors 52

Chianelli Estimating

NOVEMBER 11, 2011

The contractor had secured the project and the owner would realized a huge savings on the cost of the project estimate established. Subcontractors and material yards begin calling due to lack of payment and are beginning to lien the project. All parties thought this was a win-win situation.

Bidding 100

Bidding Estimating Budgeting Budget 100

Construction Lawyer

JANUARY 8, 2013

The making of final payment shall constitute a waiver of Claims by the Owner except those arising from: 1 liens, Claims, security interests or encumbrances arising out of the Contract and unsettled; 2 failure of the Work to comply with the requirements of the Contract Documents; or.3

Claims 40

Claims Wyoming Contract Change Orders 40

Construction Law Monitor

MARCH 6, 2012

These contracts need to be in writing and include: 1) full agreement between owner and contractor, 2) full name, address and registration number of the contractor, 3) detailed list of work and materials, 4) total to be paid & how the costs will be paid, and 5) finally signatures of all parties. See La R.S.

Louisiana 68

Louisiana Contractors Certification Contract 68

Construction Marketing Ideas

OCTOBER 23, 2013

My reaction: In an email to our contract writer and the publication’s advertising representative, I told both of them to be cautious in dealing with the individual, and I set out the guidelines for the sort of material we could publish. Never write an email you would not want to be seen in public and/or used in legal action.

Legal 54

Legal Lien US Guidelines 54

Contractor Bookkeeping

MARCH 9, 2013

Sending the Notice to Owner of Intent To Lien to protect my financial interests. Enter purchases of material, supplies, equipment rental, tools and other items. Fill out and file Employment Security quarterly tax returns. Four Shop Duties Contractors Give Their Secretary: Accept deliveries of tools, equipment and materials.

Contractors 48

Contractors Cash Flow Banking Change Orders 48

Green Building Law Update

JANUARY 24, 2016

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.

Lien 120

Lien Finance Commercial DC 120

Levelset

MAY 25, 2022

Contractors on public projects aren’t allowed to file mechanics liens when payment problems arise, as the federal government (and most states) explicitly prohibits private entities from claiming an interest in public property. Public construction projects need to secure a payment bond prior to the start of work.

California 52

California Claims Lien Contractors 52

Contractor Bookkeeping

JUNE 15, 2012

No Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank.

Contractors 48

Contractors Insurance Claims Lien 48

Contractor Bookkeeping

JUNE 20, 2014

No Financing - Your customer or client''s project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank.

Insurance 48

Insurance Construction Accounting Claims 48

Levelset

JULY 9, 2022

When payment problems come up on a public project, contractors can’t just file a mechanics lien as a solution, as both the federal government and state governments prohibit private companies from gaining interest in public property. Lien waivers. Even suppliers to suppliers are likely covered. Making a claim against a payment bond.

Georgia 52

Georgia Claims Lien Contract 52

Levelset

MAY 16, 2022

For the most part, contractors aren’t able to file mechanics liens on public projects, unlike with private projects. Rather than filing mechanics liens, public construction projects are required to secure a payment bond prior to work beginning. Florida bond claims. Send a Notice of Nonpayment.

Florida 52

Florida Claims Lien Contract 52

Contractor Bookkeeping

JANUARY 2, 2015

Do Not Offer Financing - Your customer or client''s project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank.

Construction 48

Construction Insurance Accounting Claims 48

Levelset

JULY 7, 2022

When payment problems come up on a public project, contractors can’t just file a mechanics lien as a solution, as both the federal government and state governments prohibit private companies from gaining interest in public property. In some cases, securities, bonds, or other similar instruments may be substituted for retainage.

Oregon 52

Oregon Claims Contract Contractors 52

Levelset

MAY 18, 2022

Generally, contractors on public projects aren’t able to file mechanics liens. The federal government — along with many states — prohibits private entities from claiming an interest in public property, making it necessary for public construction projects to secure a payment bond prior to work beginning.

Louisiana 52

Louisiana Claims Contractors Legal 52

Contractor Bookkeeping

OCTOBER 4, 2013

A whole stream of events issues from the decision, raising in one''s favor all manner of unforeseen incidents and meetings and material assistance, which no man could have dreamed would have come his way. Sales tax liens against contractors twenty two times higher than any other business. Boldness has genius, power, and magic in it.

Profitability 48

Profitability Construction Accounting Cash Flow 48