Construction defect coverage is an often litigated issue. With contractor after contractor being sued for defective work, owners are constantly looking to the contractor’s insurance carrier to repair the defective work. Generally, the defective is work is not covered unless is results in other issues known as “third party damage,” such as leaking, On April […]
Month: May 2012
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Are You Up to Date?
Changing Mechanics Lien Laws Available Online at LienItnow.com Staying up to date with constantly changing construction lien laws will allow you to secure your lien rights on any project, without having to worry about changes in notice and deadline requirements. Lienitnow.com provides a database of construction lien statutes for every state, and this information is […]
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March Construction Spending Shows Gains: Another Boost for the Economy
After two months of declining spending, builders finally began to increase spending on construction projects. The Commerce Department released its monthly report and found that construction spending ticked up 0.1% in March. March’s gain resulted in construction spending at a seasonally adjusted annual rate of $808.1 billion. Last March, construction spending hit a 12 year low of $762.6 billion, resulting […]
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Credit Manager Solutions: Part 4 of the Series: Using a UCC and Mechanics Lien
Using a UCC Some Creditors are comfortable filing a UCC Notice in order to help secure their position and in order to secure their loan or funding to a borrower or customer. However, when the borrower or customer is in the construction business, why stop at a UCC–why not go all the way and file a […]