We are being asking to sign a Forbearance Agreement. By signing this agreement, we are stating we agree to the terms of the company to pay off it’s balance in 2022 in set amounts. The work we performed were on offshore decks and platforms and a traditional lien is a route we are unable to take. I want to ensure by signing this document our rights are still protected in the event they defaulted on the forbearance agreement.
All the terms of the agreement would need to be reviewed in order to provide an accurate answer to this question. The agreement could potentially do a number of different things. If you would like for us to review it, we would be happy to. 504-323-5885.
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