Foundation of ASA Updates Its Lien, Bond Claims Manual in 50 States

📅   Mon January 30, 2017 - National Edition
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The Foundation of the American Subcontractors Association (FASA) has updated its Lien & Bond Claims in the 50 States, a downloadable manual outlining the lien and bond laws in each state and the The Foundation of the American Subcontractors Association (FASA) has updated its Lien & Bond Claims in the 50 States, a downloadable manual outlining the lien and bond laws in each state and the District Columbia.

Construction subcontractors and suppliers rely on mechanic's lien and payment bonds to assure that they are paid for work performed or materials furnished on construction projects. This manual can help them understand their lien and bond rights in the states in which their companies do business.

A mechanic's lien is a claim against property to secure a debt, such as a debt owned to a construction subcontractor for the value of work performed and materials furnished on a construction project. A payment bond, which is required on most public construction, assures the owner that the prime contractor will pay its subcontractors and suppliers.

The FASA manual provides a summary of the basic requirements of each state's lien and bond laws, including who is covered; critical deadlines for notices, claims and suits; filing procedures; and more. The summary of laws was prepared by Donald W. Gregory, and Eric B. Travers, Esq., Kegler, Brown, Hill & Ritter, Columbus, Ohio, ASA's general counsel, with input from attorneys from around the country.

Lien & Bond Claims in the 50 States (Item #3006) is $55 for ASA members and $80 for nonmembers.

FASA was established in 1987 as a 501(c)(3) tax-exempt entity to support research, education and public awareness. Through its Contractors' Knowledge Network, FASA is committed to forging and exploring the critical issues shaping subcontractors and specialty trade contractors in the construction industry. FASA provides subcontractors and specialty trade contractors with the tools, techniques, practices, attitude and confidence they need to thrive and excel in the construction industry.

For more information, visit www.contractorsknowledgenetwork.com.