Payment Bonds (Part of Commercial Construction Credit Specialist)
How can your company quote a project without knowing whether you are a secured creditor or unsecured? , The most important question never asked is whether a project is bonded. , When can you be confident that a project is bonded? , How do you obtain a copy of the bond? , What information do you need to collect to determine whether your company is secured? , Who is protected under a bond and how do you preserve rights? , Can you ever recover your costs of collection under a bond? , Can you accidentally waive your rights in your contract or in progress payment waivers? , How do you motivate a surety company to promptly pay claims? , This payment bond session will answer these questions and provide an overview of the federal Miller Act, the state Little Miller Acts and Private Bonds. , After successful completion of this module the student will understand how to determine if a payment is bonded, protections under a bond, waiving rights in a contract or in a progress payment waiver, the federal Miller Act, the state Little Miller Acts and Private bonds.
James Fullerton. Jim is a graduate of the University of Colorado and the University of Virginia School of Law. , He is an attorney licensed in Virginia, Maryland, and the District of Columbia and is the President of the law firm of Fullerton &, Knowles, P.C. , The firm represents owners, design professionals, suppliers, subcontractors, general contractors and other members of the real estate and construction industries, filing mechanic