Tag: Construction

During NACM’s Credit Congress in Las Vegas, a panel of experts spoke of “risk transfer” associated with construction documents such as purchase orders, waivers, joint check agreements and more.

In today’s climate, being “eco-friendly” may just be an ethical façade. Greenwashing—a term coined in the 1980’s—is the act of claiming environmental credentials for a product or project that are unjustified or untrue. Its purpose is to create an impression among both existing and potential customers that the business carries out environmentally friendly activities, when in reality, it is just a cover up.

Collecting important project information for payment documents, like preliminary notices or lien waivers, can pose a widespread challenge across the construction industry—and it can become frustrating when you realize essential project details are left behind when completing documentation.

📃Without sufficient and accurate job information, a company’s ability to secure payment through a mechanic’s lien or bond for their projects may be in jeopardy.

A personal guarantee, a legal commitment where an individual pledges to cover the business’s debts if the loan defaults, has become a significant tool in the credit industry.

The tragic collapse of the Francis Scott Key Bridge last week—claiming the lives of six construction workers—has residents in the Baltimore area in shock.

In construction, the mechanic’s lien is an important legal instrument protecting laborers and suppliers. Without it, contractors and subcontractors lose legal protection, resulting in significant losses. From the labyrinth of statutory requirements to the pitfalls of strict deadlines, we’ll explore why Texas stands out as one of the most challenging states in the nation for lien filings.

A lien waiver is a legal document that relinquishes a party’s right to claim a lien on a property or asset. It is commonly used in construction projects, where subcontractors or suppliers may have a right to place a lien on the property to secure payment for their services or materials. By signing a lien waiver, these parties agree to waive their right to file a lien against the property in exchange for payment or other consideration.