Can I collect 100% of my contract amount on a bond claim on a public property? I've heard the term perfect bond amount, not quite sure what this is.
Typically, you can collect from the bond any amount that you would be entitled to via a regular law suit under any applicable law. So yes, in theory, you can recover from a bond whatever you're legally owed. Now, perfecting your bond claim is performed by sending the requisite claim notice that meets the requirements of the applicable bond statute in play (e.g. state or federal). There are critical deadlines to perfecting you bond claim that you absolutley need to meet, so I suggest reaching out for assistance on this matter as soon as you can.
I can't speak from LevelSet, but I believe they help folks issue bond claims. If not, of if you would additionally like to speak to an attorney regarding this project, feel free to reach me directly.
Perfecting a bond claim or bond amount just making sure you do everything required to earn that money and have the receipts and proof to support your claim.
You may collect up to 100% of your contract amount if you have completed 100% of the work and have been paid 0% in a timely fashion so the outstanding balance is 100% of what you are owed.
E. Aaron Cartwright III