Payment bonds play a crucial role in ensuring financial security and trust among contractors, subcontractors, and suppliers. A Payment bond is issued by a surety company (insurance company) to guarantee that a contractor (the principal) will pay their subcontractors, laborers,…
A preliminary notice is critical to ensuring that your mechanic’s lien rights are enforceable. Too many contractors think “Do I really need to send a preliminary notice if I’m almost certain I am going to get paid?” Over the past…
Sending out preliminary notices, also known as pre-liens or prelims, is a crucial step in protecting your mechanics lien rights and ensuring you get paid for your work. However, preparing and properly mailing preliminary notices can be an arduous task….