Bond claims exist to help unpaid parties who furnish labor or material on a construction project secure payment. These documents can be used on public projects, or projects sponsored by the state or by the federal government.
Be proactive to ensure that you are able to file a valid bond claim, if and when the time comes. If you do not send your required notices properly and meet the right deadlines, you may discover later on that your bond claim is worthless and unenforceable.
Every state’s laws dictate the deadlines to file and enforce a bond claim. Most states also have deadlines to send preliminary notices.
If you’re an equipment lessor working on a public project, this guide is essential reading to ensure you get paid. Find out:
- How a bond claim works to get equipment lessors paid on public projects
- The ways in which preliminary notice can impact your right to a bond claim
- Who should receive a bond claim and how to send one
- Enforcement tactics to ensure you get paid for equipment you rented out
- Deadlines to send preliminary notices and filing claims