We talk a lot about mechanics liens and their benefits, but what happens if you are working on a public project and are unable to file…Read More
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One of the basic differences between contracts for public projects and contracts for private projects are the claims that unpaid parties can file. Specifically, while unpaid subcontractors and suppliers on private projects can file mechanics liens, on public projects those unpaid parties…Read More
In a recent publication of Construction Executive there is a nice article written by J. Craig Rusk on alternatives to both payment and performance bonds in the construction industry. These types of bonds are usually great places for contractors…Read More
Short Answer: Performance bonds are issued to the benefit of the owner and guarantee the prime contractor will finish performance of the contract. Payment bonds are issued to the benefit…Read More
Over the past two years, the construction industry has seen a boom in public works. This is due to lower construction costs, influx of federal stimulus funds and lower financing rates for local governments.
The result has meant tons of public work for contractors, who benefit both from Davis-Bacon wages and…Read More