General contractor stated they will bond around my lien. The next step would be putting a claim on that bond? How long does that whole process take and what are the steps to secure my money.
1 reply
Jun 8, 2020
A contractor's threat to bond off a mechanics lien filed against the project is generally a pretty weak one. Levelset discusses that here: Don’t Be Afraid Of Threats To Bond Off Your Mechanics Lien: Explaining Mechanics Lien Bonds.
When an Oklahoma mechanics lien is bonded off, the lien claimant can still enforce their claim by filing a lawsuit against the bond. As for the timeframe for doing that - the suit must be initiated within 1 year of when the lien was originally filed. That's a pretty long deadline, and it was done that way on purpose - the year provides a lot of time for the lien claimant, their customer, and the property owner to negotiate payment before a suit must be filed.
Generally, after a lien is bonded off, it's time to discuss payment with the party who bonded off the lien and your customer. If they're still refusing to make payment, threatening to enforce the claim by filing suit may kick them into gear. Or, consulting with an Oklahoma construction attorney may be useful moving forward - they can help you make payment demands, plus if a suit becomes necessary, you'll need an attorney anyway.