Tag: Liens

In the construction world, a mechanic’s lien is a vital legal instrument protecting laborers and suppliers. Without it, contractors and subcontractors lose legal protection, resulting in significant losses. Several factors influence lien rights. However, can other contracts or agreements, such as a non-disclosure agreement, override your right to file a notice or initiate legal proceedings?

NACM’s Secured Transaction Services (STS) provides and prepares construction credit professionals with several tools for success. STS handles projects and assists credit professionals in securing corporate receivables to ensure profitability.

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.