Bonding Necessary in Public-Private Partnership (P3) Agreements Construction, the backbone of the American economy, has been developing different techniques at a rapid pace over the last 100 years. Aside from the amazing strides made in the types of buildings being constructed, the construction industry has pushed itself to innovate in every facet. The constant change being […]
According to Bizjournals, the Federal Reserve Bank of Kansas City which regulates banks in a seven-state region, allowed for land development and construction loans to be made during the second quarter. According to the recent report by the Federal Reserve Bank of Kansas City, the banks only netted a profit of $110 million over loans in […]
In Arkansas, lien claimants on commercial projects are required to provide a Notice to Owner and Contractor (also known as a pre-lien) within 75 days of last providing work or materials to the project. The Notice to Owner must be served to both the Owner and the General Contractor whether be hand-delivered or mailed via return receipt requested, […]
On a residential project, a General Contractor is required to provide a Pre-Construction Notice to Owner PRIOR to the start of work or all lien rights are invalidated. Although the general contractor’s notice to owner covers the subcontractors and suppliers, in the event that he fail to give the required notice, the subcontractors and suppliers are left out […]
In Arkansas, liens filed on private property or on funds relating to a public project are known as Mechanic’s Liens. When a mechanics lien is filed with regard to work performed on privately owned property, it attaches to and encumbers the fee simple ownership of property. Contractors, as well as subcontractors, design professionals, sub-subcontractors and […]
