Payment bond rights under your state’s Little Miller Act statute are not easily avoided. Little Miller Act statutes allow subcontractors and lower-tiered parties to make claims against the payment bond that every general contractor must post for public projects. This process guarantees a certain level of protection for subs while…Read More
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To sign or not to sign?
Lien waivers are used all the time in the construction industry. Typically, the party making payment will request or require that the party receiving payment sign and execute a lien waiver as part of the exchange of payment. It is pretty clear why those making…
It’s that time of year again… Time to reflect on the past 12 months and consider what we did well and where we can do better. It is easy to make a mental list of resolutions, but it’s not so easy to stick to them for a whole year. But we have come…Read More
Reprinted with permission from Construction Executive, a publication of Associated Builders and Contractors Services Corp. Copyright 2015. All rights reserved. This post was originally published on September 18, 2015.
Subcontractor default is neither understated nor under-reported. Everyone in the industry is familiar with it and the consequences of the likely, yet…Read More
Under the Miller Act, a party is limited to a one year period to file suit against a payment bond to recover payment. This one year period may be extended for very limited circumstances. The reason for these limited circumstances is because to allow an extension of the one year period alters…Read More
It is no secret that the Texas mechanics lien statute is a rather confusing and daunting piece of legislation. This is especially true for subcontractors as they bear the brunt of strict and complex notice requirements that must be met in order to qualify for mechanics lien protection. The statute requires notices…Read More
Are you a prime contractor? View the Prime Contractor’s Lien and Notice Deadline Chart.
Do I have to send a pre lien notice? Is my mechanics lien going to be invalid?
Sound familiar? The quest to find pre lien notice (or preliminary notice) requirements and deadlines leaves many scratching their heads.
To solve…Read More
Whether your headquarters are located in a van, or on a massive campus, as a subcontractor, you’ve probably been asked to sign a lien waiver at one point or another.
What is a subcontractor lien waiver?
A subcontractor lien waiver is, simply put, a lien waiver for subcontractors. I can guess what…
Textura Corporation (NYSE: TXTR) enjoyed a very successful IPO in 2013, with share prices eventually climbing to three times the IPO price of $15 (trading at $29.50 currently). Short-seller Citron Research, however, has strongly claimed that Textura’s stock price, and the support it enjoys from investment banks, is based on…Read More
Lien waivers are one of the most common documents associated with construction projects. Their ubiquitous nature, and the need to exchange numerous documents quickly and efficiently many times per project, can lead to the potentially significant consequences associated with lien waivers being overlooked, and waivers being rubber-stamped in the rush to get paid….Read More