Bond and Lien Claims
Pros of lien claims vs. bond claims
A lien claim is formulated by the law of state in order to secure compensation for materials, services or labor used to build or to improve a real property. The main reason behind this law is the reluctance associated with the property owners, to compensate for construction in advance. Also, the fact that it is impossible to return the work done in case of failure for compensation, made the law be enacted. The law supports construction and development via giving a means, through which employees, as well as other contractors conducting work with ...