As featured in Connstruction Summer 2017 A payment bond protects subcontractors and material suppliers against nonpayment. Since mechanic’s liens cannot be filed against public property, the payment bond may be the only protection for subs and suppliers if they are not paid for the goods and services they provide to a public construction project. Given the importance of payment bonds on public projects, Read More
Public Owner’s Liability to Subcontractors and Suppliers for Failing to Obtain a Payment Bond as Required by Statute
A mechanic’s lien is a remedy for subcontractors, contractors, suppliers, and other construction professionals to resolve payment issues. When you file a lien on property, the owner may not sell or refinance the property until those protected by the lien are paid in full. It is important to note that mechanic’s liens may only be filed on private construction projects. If the property owner or general contractor Read More
Connecticut Subcontractors Rejoice! Legislation Addressing Prompt Payment and Retainage Issues Passes with the Help of MKRB!
Subcontractors and suppliers in Connecticut have long struggled to receive prompt payment for their work on privately owned construction projects. Undisputed sums are often bogged down due to the presence of “pay when paid clauses” in contracts with general contractors, and many owners refuse to release retainage until months after a project is complete. Now, thanks to recent legislative changes sponsored by Read More
NBC Connecticut Interview with Steven Kaplan (video) Read More
Beth began the seminar by addressing the "Fairness in Construction Financing Act," which provides subcontractors with significant assistance in procuring payment, particularly retainage, on many types of private construction projects. The Act, which applies to private commercial and industrial construction contracts valued at more than $25,000.00, as well as residential contracts with more than four units, gives Read More