Category: Construction Finance
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How to Avoid Issues When Dealing with Contractors Post-Flood in Louisiana
The recent flood in the Baton Rouge area is one of the most devastating natural disasters in recent memory. According to the Baton Rouge Area Chamber’s estimations, over 145,000 homes were affected by the floods. Damage estimates have been enormous, and the effects of the flood have been far reaching. Just about everyone in Louisiana has been affected…
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Subcontractor Defects Are Covered by CGL Policies in New Jersey
Relationships between insurers and insureds are always touch and go. Claims become especially tricky when made for defective work. Depending on the type of policy and the exceptions and exclusions in the contract, these claims can be paid or fall by the wayside. In Cypress Point Condominium Association, Inc. v. Adria Towers, L.L.C., the New Jersey Supreme…
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General Contractor Indicted Over Misuse of Funds
Payment in the construction industry is a complex beast. As a result of the top-down payment system, parties at the bottom of the payment chain are at the mercy of the contractors above. In order to protect themselves, those at the top of the payment chain regularly insert timing provisions and conditions for payment in the form…
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Drones in Construction: Drones and Mechanics Liens
It’s an exciting time in the construction industry, where technology is making everything easier. One of the most exciting and creative ways technology is being utilized is with drones on construction projects. Convincing decision makers to embrace technology can be difficult, but the benefits of incorporating drones in construction projects are real. In this three part series we will discuss recent changes in…
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Drones in Construction: Current and Future Uses
It’s an exciting time in the construction industry, where technology is making everything easier. One of the most exciting and creative ways technology is being utilized is with drones in the construction industry. Convincing decision makers to embrace technology can be difficult, but the benefits of incorporating drones in construction projects are real. In this three part series we will discuss recent changes…
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The Olympics and Construction Have an Interesting History
There’s nothing quite like the Summer Olympics, and they’re here! Every four years, the nations of the world come together for the time honored celebration of athleticism that is the Olympics. The Games help remind us that we are all citizens of the world, and hosting the Olympics is usually a great source of pride. On top of that,…
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Drones in Construction: New Regulations
It’s an exciting time in the construction industry, where technology is making everything easier. One of the most exciting and creative ways technology is being utilized is the use of drones in the construction industry. Convincing decision makers to embrace technology can be difficult, but the benefits of incorporating drones in construction projects are real. In this three part series we will…
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No Laws For Prompt Payment in Canada
Prompt payment laws are incredibly important in the construction industry. Without them, there is little legal muscle to force payments down the chain. Essentially, these laws ensure that parties at the top of the payment chain pay subcontractors in a timely fashion by establishing deadlines and penalties. For example, the deadline for payment in California…
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Louisiana Claims for Payment Must Follow Procedure
Jumping through procedural hoops is a constant struggle when dealing with lien law and bond claims. Even the smallest misstep can destroy chances at recovery, and failure to meet lien or bond claim deadlines is one of the most common reasons for the dismissal of claims. Like most states, the Bayou State takes procedure very seriously. This was…
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What Is a Surety Bond Claim?
What is a Surety Bond Claim? A surety bond claim is a claim made against what amounts to a pile of money that has been set aside for the purpose of ensuring the parties on a construction project get paid. Since certain properties cannot be liened, a bond is obtained to provide a similar type…