Tag: Construction

Mechanic’s liens serve as a legal tool for both contractors and subcontractors. Their purpose is to establish security interest in a property’s title to ensure payment, so it is essential to be thorough when filing. One small mistake can cost you the right to enforce payment rights.

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.