We are a commercial glass company and we finished work on a public school. We have filed an intent to lien notice for the remaining amount due which is just retainage. Do we have to file a notice of bond claim in order to be able to file a lien on retainage?
Hello,
In all likelihood, the answer is "Probably". The reason I say probably is because retainage is supposed to be paid within 30 or so days after you've completed your punchlist items. If someone is holding back your payment, they are probably thinking they can pay retainage on completion of the entire project which is not the complete truth but people tend to do it and get away with it.
There is a likelihood that if you file against the bond, the bonding company may call the GC and instruct them to pay your retainage. With that being said, this is one of those situations that would require examination of your contract, pay apps, and the terms of the bond.
E. Aaron Cartwright III
214.789.1354
Aaron@EACLawyer.com