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Who is responsible for lifting a lien on a project when the general contractor goes bankrupt and there is only a performance bond on the project?
Wiki User
∙ 15y ago
Well right off, under the circumstances your giving, I'm not sure what lien would be in effect. Generally, whoever has placed the lien has to remove it, or you may be able to get it done filing Docs showing it has been satisfied.
Certainly the owner didn't put a lien on his own project for what the contractor owes/has to do. If the job is liened for payment by a subcontractor to the primary, and he put a mechanics lien on, these may not be cleared by BK. Your going to have to get more involved.
The performance bond is there for exactly such an event, and the sureity co should step in and complete the job, to do so they may need to pay the subs off.
Wiki User
∙ 15y ago
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What is the role of the general contractor in industrial building construction?
general contractors generally bid for a project, assuming responsibility for the project's planning and overall development. Often, however, the general contractor delegates performance of many specific tasks
Does general contractors insurance cover against contractor not finishing a job?
Nope. What you are asking about is called a "performance bond".
Did GMC go bankrupt?
General Motors did go bankrupt.
Can a roof be fixed by a general contractor?
If he can't he shouldn't be a general contractor
What domains does a general contrator usually cover as opposed to a specific contractor?
A general contractor usually is in charge of an entire construction project. You hire a general contractor to build a home or commercial structure. He's responsible for everything it takes to produce that structure. Usually he contracts for the plumbing and electrical work to be done by subcontractors. Often he subcontracts everything.
Is a person a subcontractor if the general contractor makes the price?
Anyone who does work for a general contractor and is not a direct employee of that contractor is a sub-contractor. Regardless of who sets the price. The subcontractors work within the contract set between the general contractor and homeowner. Hence sub-contractor.
What is a general contractor?
A general contractor is a group or individual that contracts with another organization or individual (the owner) for the construction or renovation of a building, road or other structure. A general contractor is defined as such if it is the signatory as the builder of the prime construction contract for the project A general contractor is responsible for the means and methods to be used in the construction execution of the project in accordance with the contract documents. Said contract documents usually include the contract agreement including budget, the general and special conditions and the plans and specification of the project that are prepared by a design professional.
Who was the contractor that built the metrodome?
General Contractor Lic.
In which year did General motors go bankrupt?
General Motors has gone bankrupt six months ago/////they are not bankrupt they just ment under the protection of the court to give them time to reorganize
Why would a subcontractor get a general contractor license?
So they can work as a general contractor and not have to work for someone else.
What is an insured contractor?
An insured contractor is a contractor who carries a Commercial General Liability Insurance Policy.
What happens when a general contractor is not a general contractor in your state?
That means he is an unlicensed general contractor. He has not set up a bond or registered with the state licensing board. Complaints in your state would not be readily available.
