We wish we would have
We invite you to learn more about your lien rights.
We’ve penned thousands of posts just for you.
The main purpose of retainage is to ensure that subcontractors satisfactorily and completely finish their work, but by definition retainage is withheld on work satisfactorily performed. Not only is the practice often ineffective at ensuring project completion, but it causes a significant amount of financial problems for subcontractors, and the industry as a whole.
This is a primer to help you understand the differences between the two most common methods that people in the construction business use to send their preliminary notices, Regular Certified Mail and Certified Mail with Return Receipt Requested.
That’s because in most cases, California’s mechanics lien law requires construction companies to send preliminary notice in order to their maintain lien rights on their projects.
Borrowing Base is the total amount of collateral against which a lender will lend funds to a business. It presents a maximum cap on how much asset-based debt a business can obtain. Typically, each asset category is discounted by a factor related to the riskiness associated with that asset.
A lien waiver is supposed to work like a receipt: if a party gets paid $100k, that party waives $100k in lien rights. It’s as simple as that. Everybody is protected, and the payment process is fair.
A lien waiver is not just a piece of paper. It’s actually a legal document that has significant ramifications when executed.
Access to capital (liquidity) remains the most important area to focus on in analysis, especially on projects where slow pay cycles and cash flow could become a major concern.
When it comes to material suppliers, one constant among the laws is that a mechanics lien right only arises if your materials are incorporated into the property.
We wanted to briefly show you the difference between two documents that are a part of the construction payment process: the Stop Notice and the Mechanics Lien. Please read on to learn the top 4 differences between a stop notice and a mechanics lien.
If you take a closer look at those 21.5M entries, you’ll find that a lot of the results offer advice about what can be done to collect from customers who don’t pay. However, this doesn’t really answer the “why customers don’t pay” question.
You’re going to need to know this information in full and 100% accurately. Because anything less than perfection might kill your payment rights
Even as work in the field moves to a technology-enabled, collaboration-first mindset, when it comes to payments, many companies are still stuck with paper forms and documents and a protection-first mindset.