We recently noted that North Carolina mechanics lien law may be changing again, by “clarifying” the requirements surrounding the Notice to Lien Agent. That is not the only potential modification to North Carolina bond and mechanics lien law,…Read More
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Mechanics Lien Rights May Be Limited On Solar Projects
The portion of the construction industry centered around green energy installations such as solar arrays or wind farms is rapidly expanding. Despite the rapid growth of this segment of the industry,…Read More
Generally speaking, when a party performs work on a public works project, the necessary remedy for non-payment is to make a claim against the payment bond. Similarly to the mechanics lien right available on private projects, a bond provides security to…Read More
In the world of surety bonds, payment bonds are often the overlooked siblings of performance bonds.
As explored in a previous frequently asked questions post — The Difference Between Payment and Performance Bonds — performance bonds are placed to protect those up…Read More
Payment bonds exist to secure payment rights for parties on a construction project in the event that the contractor defaults on its payment obligations. While any project can be bonded, bonds are generally found on public works, where a…Read More
Bond claims, like mechanics liens, have specific rules that must be followed in order for the claim to be valid. Also like mechanics liens, the rules that govern bond claims very from state to state. Since state bond claim laws are…Read More
Research professor Thomas Schleifer has published a string of op-ed articles at ENR.com warning those in the construction industry about the financial perils and risks associated with a rebounding economy. In turn, we’ve highlighted these articles…Read More
Construction Payment Blog is not just focused on mechanics liens; another topic we routinely cover is payment bonds. As we’ve discussed in many other posts, general contractors on public works projects are generally required to secure a bond on the project to ensure payment…Read More
Last week I wrote an article about the epic battle between Credit Departments and Sales Department. In examining how the two departments can co-exist, and thrive, we discussed a best practice of creating options to take new business. If…Read More
Running a successful business can be full of complications, but your company’s bottom line really boils down to doing two things well: (1) Acquiring clients; and (2) Getting paid for what you do. It’s that simple.