Mechanics Liens - Construction Liens

Many projects are covered by Payment and Performance Bonds. If you have
performed work or supplied material, you must act quickly however, since bonds
usually have a 90 or 120 day time frame from the last time on the job.

A number of subcontractors leave large amounts of money on the table because
they do not know how to protect themselves. We can help you secure your
receivables.

With few exceptions, all Federal Public Construction projects are covered by
Payment and Performance Bonds (“P&P Bond”). A bond is an insurance policy
generally taken out by the general contractor which assures the owner that the
project will be completed as specified by the terms of the contract, and assures
the subcontractor and suppliers that they will be paid for the work they perform or
supplied. However, just like liens, bond claims have a number of requirements
including time limitations. Anyone wishing to file a claim against the bond must
adhere to such requirements. “P&P Bonds” can also be issued on private
projects. Generally the owner of large projects request that a “P&P Bond” be
taken out by the general contractor hence giving him assurance that the project
will be completed for the contracted price agreed upon and that any potential
payment problem will be handled by the surety.