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A Constant Stream of Helpful Content on Getting Paid in Construction
How Lien Priority Works for Mechanics Liens in California
When payment issues arise in a construction project, chances are there are more than one party trying to claim the respective payments that they have rightfully earned. And when the property ends up getting foreclosed, all these parties would want to ensure that they still get paid. The order in which these parties receive their payment is determined based on their lien priority. Some liens have higher priority than others, and it is very important for potential lien claimants to know how their liens are prioritized in the event of a bankruptcy or foreclosure.
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4 Issues Contractors Face and Their Digital Solutions
Without the right technology in place, business management is a complicated and time-consuming endeavor. If you’re a contractor struggling with scheduling, dispatching, and invoicing because of old-school management methods, there are solutions on the market that can save you both time and money.
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How to File a Preliminary Notice in Illinois
In Illinois, preliminary notice requirements vary depending on your role in a project and the type of project you are working on. These preliminary notices are sent before a formal mechanics lien is filed, and they inform the property owners and other higher-tier parties about your participation in a project and the unpaid balance that you are still waiting to receive.
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How to Write a Demand for Payment Letter in Construction
If you’re engaged in a payment dispute and are looking to secure payment from a delinquent client, you are well advised to write a formal payment demand before escalating the issue to a legal battle. Strong payment demand letters can be effective enough to encourage your client to produce payment, and they also have other advantages that can benefit your payment claim.
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Mechanics Liens for Materials Suppliers: 8 Things to Keep in Mind
When payment issues arise, material suppliers can file mechanics liens. However, there are several rules that are unique to suppliers compared to the more commonly tackled procedures for contractors. When payment issues arise, material suppliers can file mechanics liens to get paid. A mechanics lien allows a material supplier to have a security claim over […]
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Bonding Off a Mechanics Lien in Illinois
“Bonding off” a mechanics lien refers to the practice of having a mechanics lien claim removed from a property’s records as long as it is replaced with a valid surety bond. This means that construction parties who hold a lien claim over a property will have to recover payment not through the foreclosure sale of the property but through a bond claim.
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How to Foreclose on a Mechanics Lien
The mechanics lien is arguably the most effective tool for forcing property owners to settle their outstanding debts. Sometimes, however, property owners do not always easily pay up. If you do not get paid after recording a mechanics lien, you must look into filing a foreclosure lawsuit to recover the payment that you duly earned.
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How Bonds Work in Construction
Construction bonds play a crucial role in government projects. Contractors, subcontractors, and material suppliers handle all the work for the government, and different types of construction bonds ensure that all stakeholders are protected.
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How to File a New Mexico Mechanics Lien
This guide will help you go through these rules and regulations, from the important deadlines that you must meet, all the way to the common mistakes that most construction professionals make when filing a mechanics lien in New Mexico.
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