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A certificate of occupancy is a document issued by a local government agency or building department certifying a building's compliance with applicable building codes and other laws, and indicating it to be in a condition suitable for occupancy.
File a Bond Insurance Claim. Before proceeding, note that you can only file a claim if the contractor is bonded. Therefore, you should only work with bonded and insured contractors for large projects.
[9] [10] Many state and municipal governments similarly require contractors on public works projects to be bonded under so-called "Little Miller Acts." Theoretically, the payment bond under the Miller Act or Little Miller Act stands in place of the government's property, and qualified claimants make claims against that bond similar to how they ...
[6] To complete this objective, the CSLB requires anyone charging over $500 to be licensed and bonded. The agency licenses individuals who are 18 years or older and can show verifiable proof of 4 years of experience at the journey level or as a foreman, supervisor, or contractor for the sought classification within 10 years of the application ...
The bonding process helps weed out irresponsible contractors while the bond itself defrays the government's cost of substitute performance. The subrogation right of the bond surety against the contractor (i.e., the right to sue for indemnification) is a deterrent to non-performance. Bond sureties often require additional security, including ...
The bond penalty is subject to full or partial forfeiture if the winning contractor fails to either execute the contract or provide the required performance and/or payment bonds. The bid bond assures and guarantees that, should the bidder be successful, the bidder will execute the contract and provide the required surety bonds .
In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materials supplier, equipment lessor or other party to the construction project (the claimant) stating they have received payment and waive any future lien rights to the property (of the owner) for the amount paid.
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