What do you know or think about preliminary notices? In the construction industry there are a lot of opinions and incorrect information floating around about these documents. The name of the document itself is a source of confusion and controversy.
This morning our friends over at Funding | Gates published a guest post about the construction preliminary notice document. The article gets to the bottom of these documents by asking a simple question: What do these documents mean to your business’ bottom line? Read the article over on their blog here: Construction Preliminary Notices: What They Mean For Your Bottom Line.
If you take a look at the article, you’ll be able to read about the following:
- Should You Send Preliminary Notice? Forget about the legal requirements, is it smart to send these documents?
- Are You Required To Send Preliminary Notice? What are the legal requirements?
- How Must You Send Preliminary Notice? If you decide to send the document, how exactly are these documents sent?
Further, of course, we talk about the logistical challenges in sending preliminary notices. The rules are hyper complex and they vary from state-to-state and project-to-project. Plus, if you crack the code in knowing what forms to send and how to send the forms, you’ll still need to actually deal with the aggravation of doing it.
What is the solution to this? Well, you may want to consider a preliminary notice and lien compliance service.