Tag: STS

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.

Artificial intelligence (AI) has arrived in the construction industry, promising to revolutionize it. From preconstruction to site safety, the construction industry is using more AI technology to facilitate the various stages of the construction process.

Rising labor costs, new environmental regulations and a mixed outlook on construction volume present significant challenges to the industry. However, declining fuel costs and controlled inflation offer some relief.

Contractors are prohibited from filing mechanic’s liens on public projects like highways, schools or fire stations, as this would lead to public real estate foreclosure. Instead, they are offered alternative security in a performance bond as a guarantee against the failure of the other party to meet the contract obligations. Why it matters: Understanding the prohibition of mechanic’s liens on public projects and the role of performance bonds is important for contractors to secure their financial interests and ensure fulfillment of contractual obligations.