Payment 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 a state or local government entity.
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 claim is worthless and unenforceable.
Every state’s laws dictate the deadlines to file and enforce a the claim. Most states also have deadlines to send preliminary notices.
If you’re a material supplier working on a public project, this guide is essential reading to ensure you get paid. Find out:
• How a bond claim works to get subcontractors 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