Tag: Legal Issues
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CFM Review: Guide To Reading A Construction Contract
Every Friday, we will select a few in-depth articles from the week that we think are worth your valuable time as a construction financial manager (CFM). We look for compelling articles not only about financial topics, but about business, technology, and life, that challenges you to think about your role as a CFM in different…
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Do Mechanics Lien Claims Survive Bankruptcy?
Some folks will trash talk the mechanics lien remedy a bit. They will scoff that the lien is useless because “the banks get first priority” (read real priority rules here) or because “it will just get bonded off” (dispel this myth here). Frequently, though, folks will criticize the utility of a mechanics lien filing with…
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State Construction Forum-Selection Laws Still Standing After U.S. Supreme Court Ruling
In a victory for construction subcontractors, the U.S. Supreme Court preserved the 24 state laws limiting the validity of forum-selection clauses in construction contracts in its ruling on Dec. 3 in Atlantic Marine Construction Co., Inc. v. United States District Court for the Western District of Texas, et al. ASA filed an amicus brief in…
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Assignment of Bond Claim Rights – Can You Contract Around Bond Limitations?
Payment bonds exist to secure payment rights for parties on a construction project in the event that the contractor defaults on its payment obligations. While any project can be bonded, bonds are generally found on public works, where a bond is normally required for all projects over a certain value. This is because public property…
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Webinar: Identifying & Mitigating Risk With A Troubled Client
Most construction or material supply companies extend credit to their customers in some fashion, and regardless of how many protective steps you take to make the right credit decision, circumstances will arise when a customer will get caught in financial trouble. Sometimes these customers are simply slow to pay, but other times, they will file…