Happy New Year! It is important to understand the difference between liens, bonds, and collections. Liens are a legal claim on a property to secure payment of a debt, while bonds are a form of insurance against financial losses resulting from non-performance. Collections are the process of recovering money owed to an organization, often through …
Indemnity is a term familiar to those in construction. Basically, indemnity shifts fault for damages or losses from one party to another. It is generally contractual, where one party agrees to assume responsibility by means of a written agreement, holding another harmless from the consequences of its actions or omissions. Indemnification shall always be a …
A construction lien is a right permitted to those in the construction industry who provide materials, services or labor to real property. If one who provides these services or materials are not paid, he or she may be able to force the sale of the property in order to recover their money. On this episode, …
On this episode, we will discuss in detail the answer to one of the most common questions we receive in our construction law firm, if I’m not getting paid, take my materials back? You need to consider the following. The right to repossess and remove shall extend to materials whose purchase price does not exceed the …
Hey everybody! Today we’re going to talk about the notice to cure. These are all very important topics that you need to understand for your next project. Make sure to follow us on our dedicated construction site as well as our podcast, YouTube videos and social media including Instagram, LinkedIn and Twitter. Get a jump on your competition. Alexander Barthet is a board certified …
The ability to accept payments from customers is critical for any business. Whether you use cash or credit cards, or even checks, it is important that you are able to process payments in a timely and efficient manner. Unfortunately, there are times when something goes wrong and you may need to deal with a chargeback …
On this episode, we will discuss in detail the answer to one of the most common questions we receive in our construction law firm, if I’m not getting paid, can I stop working, and if I do, how do I get paid? To determine whether or not to stop working if you are not getting …
What is retainage? Retainage is standard in many construction contracts as an incentive for the contractor to perform their work in a satisfactory manner. When retainage is used, the contractor will receive a percentage of their contract price as portion of their payment at the start of a project. These retainage payments are typically withheld …
On this episode, we will discuss in detail the answer to one of the most common questions we receive in our construction law firm, if I’m not getting paid, take my materials back? You need to consider the following. The right to repossess and remove shall extend to materials whose purchase price does not exceed the …
A construction lien is a right permitted to those in the construction industry who provide materials, services or labor to real property. If one who provides these services or materials are not paid, he or she may be able to force the sale of the property in order to recover their money. Make sure to …