• General Contractor

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    • Insist on Vendor List from your Sub-Contractors
    • Ask for Letters of Good Standing for Sub-Contractors from Suppliers
    • Utilize Joint Check Agreements
    • Require Conditional and Unconditional Releases/Waivers upon Progress Payments
    • File Notice of Completion after every project
    • These five simple strategies will help final funding with no unexpected surprises.
    Sub-Contractor

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    • Work with Reputable Contractors and Suppliers
    • Work Under a binding fully executed contract with clear payment terms
    • After work is performed, you, the Sub-Contractor have Lien and Bond Claim Rights, if not paid.
    • Do not fear sending “Notice of Intent to Lien.” The Preliminary Notice is “Just a Notice of Non-Payment,” not a lien.
    • Work from a position of strength. Do not let the fear of losing future business detour you from getting your money.
    • These five simple strategies will help you get paid and not fracture your business relationship with the Hiring Party and Your Vendors.
    Supplier

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    • Your customers may not have the Net Worth/Cash Flow to fully finance all Materials and Labor for an extended period of time
    • The consideration to extend payment terms can be scheduled pursuant a contract between the Property Owner, General Contractor and your Customer
    • Exercise your Lien and Bond Claim Rights. This will protect your company’s assets while increasing sales revenue
    • Obtain all project/job information prior to delivering materials. This will include but not limited to property ownership, and all contracting parties
    • Include your Statement and Invoices with your lien releases/waiver. This will be used by the General Contractor to issue a Joint Check payable to the Sub-Contractor and Supplier
    • These five simple strategies will help you limit risk to your company’s bottom line.

    Do you know your lien rights?
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    Sit back, relax, and rely on V Credit Pro to handle all of your servicing of 'Notices' and 'Filing Mechanics and Material-mans Liens in all States'

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    Industries that have Mechanics & Material-man’s Lien and Bond Claim Rights

    Dirt Work
    Fuel Services
    Concrete and Road Work
    Water and Restoration Services
    Plumbing
    Electricians
    Masonry

    Erectors
    Framers
    HVAC Installers
    Sheetrock Hangers and Finishers
    Painters
    A multitude of Suppliers
    Landscapers

    A statutory notice is required to protect any future rights to file a lien or claim of lien.

    · Private Residential Projects
    · Private Commercial Projects
    · Public Commercial Projects
    · Federal Projects (Miller Act Bond)
    A notice must be served within a time frame designated by each states lien law statutes. V Credit Pro is not engaged in providing or giving legal advice. Action required to protect your rights to perfect a claim or claim of lien varies from state to state and from an instance of a particular situation.

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    Pre-Lien Notice; Prior to Furnishing

    “Notice to Owner;” This is not a lien.
    This notice is served on the “Property Owner.”

    “Notice of Intent to Lien”

    Based on the Sub-Tier Scale, this notice is served on the “Property Owner,” “General Contractor” and ‘Sub-Contractor.” This is not a lien.

    Perfecting a Claim of Lien

    This is a lien for Non-Payment of work performed and/or supplies furnished on the project.