For private projects, claimants can file a mechanic's lien
and a stop payment notice concurrently.
Prior to coming to NCS, Jerry was a Corporate Credit Manager in the manufacturing industry for 10 years, during which time he gained very thorough hands-on experience with both UCC filings and Mechanic's Lien
That had the unintended effect of leading some courts to rule that any violation, no matter how minor, barred a contractor from seeking compensation or asserting any mechanic's lien
for his work.
Contractors and suppliers cannot obtain mechanic's liens
on public projects but can assert bond claims on projects in excess of $25,000.
However, there are other more subtle things about mechanic's liens
that many owners do not realize.
Hutchens, the bank appealed a judgment which had denied its motion for a declaration that a mechanic's lien
filed by Hutchens d/b/a Hutchens Mining Co.
Waivers bring assurances to avoid mechanic's liens
, yet it is always important to move "swiftly, but carefully," Ring said.
This will help avoid mechanic's liens
and create tighter control over the project.
It's best to establish--in writing--guidelines for when your company should take advantage of mechanic's liens
as part of your credit policy.
Between March and August, the companies filed mechanic's liens