What is a Mechanic’s Lien? Why are Mechanic’s Lien security rights so important in the collection of Construction industry accounts?

This course will discuss pre-filing requirements before work is performed, notice requirements after work is complete and the enforcement of mechanic’s lien rights. When is work “complete” to establish your filing deadline? How can your company “track” mechanic’s lien rights to make sure you do not miss deadlines? How can you trace your materials to show that they were incorporated into the property and how can you allocate your materials between multiple properties. Remote Contractors must know which states have a “defense of payment,” requiring the owner or general contractor to pay for a project only once. Will your lien survive a bankruptcy or a sale of the property? The “priority” of your lien compared to other claimants or the construction lender can often determine whether you get paid. Finally, we will discuss common problems with Mechanic’s Lien waivers and how to avoid inadvertently signing away your security rights.

The payment bond session begins with an overview of the federal Miller Act, state Little Miller Acts and Private Bond terms. Learn how to verify the existence of a payment bond and the financial strength of the surety before you grant credit. Learn how to make an effective bond claim, while recognizing and avoiding pitfalls. What will motivate a surety company to promptly pay claims in full? How can you avoid frustrating delays?

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