This seminar is designed for attorneys, presidents and vice presidents, accountants, controllers, construction and project managers, business owners and managers, credit managers, lenders, architects, engineers, principals, contractors, subcontractors and developers.
For anyone involved in the construction business, the ultimate goal is to be paid for the labor and material you furnish, and to make sure you do not pay twice for the work of others. Contractors and suppliers obtain security for payment and protection from double payment through the use of liens, bonds and other devices.
• It is the goal of this seminar to provide all of those who work in the fields of banking, real estate or construction with the law, forms, techniques and strategies applicable to the establishment and preservation of mechanics' liens and bond claims, and the defense thereof.
8:30 a.m. - 9:55 a.m.
I. The Massachusetts Mechanics’ Lien Statute
A. The General Contractor’s View
2. Creation Of A Lien
3. Enforcement Issues
4. Protection Against Liens
5. Tactical Considerations For The General Contractor
6. Procedural Checklists For Perfecting Liens Under The Lien Law
9:55 a.m. - 10:05 a.m.
10:05 a.m. - 11:30 a.m.
I. The Massachusetts Mechanics’ Lien Statute (Continued)
B. The Subcontractor’s And Supplier’s Perspective
2. Who May File A Lien?
3. What May Be Claimed?
4. How Is The Lien Claimed?
5. How Is The Lien Enforced?
6. What May The Claimant Recover?
7. What Are The Practical Considerations?
11:30 a.m. - 11:45 a.m.
II. Question And Answer Period
11:45 a.m. - 12:45 p.m.
Lunch (On Your Own)
12:45 p.m. - 2:35 p.m.
III. Construction Surety Bonds
A. Bond Underwriting
1. An Overview Of The Surety Industry, What Is A Bond, And Who Are The Three Parties?
2. How Do Surety Bonds Protect Lenders, General Contractors, Subcontractors, Suppliers, And Owners?
3. Bid Performance, And Payment Bonds And What Each Does
4. How Does A Contractor Obtain Bonding?
5. The Surety’s Underwriting And Analysis Process
6. How Much Do Surety Bonds Cost?
7. What Are The Inherent Risks In Construction That Bonds Protect Against?
8. The Added Value Of Bonds.....Competitive Bids/Qualified Contractors/Better Prices From Suppliers/ Reduced Overall Project Costs
9. Surety Industry Results. Where Is The Surety Market Headed?
10. Alternatives To Surety Bonds
11. How Will A Surety Respond In The Event Of A Problem?
12. What Must You Know About A Contractors Bonds To Make Sure You Really Are Protected?
13. Where Can You Get Additional Information On Bonds?
2:35 p.m. - 2:45 p.m.
2:45 p.m. - 4:15 p.m.
III. Construction Surety Bonds (Continued)
B. Payment Bonds Claims
1. Types Of Bonds
2. Persons Entitled To Protection Of Payment
3. Labor, Material And Other Coverage
4. Notice Requirements Under Payment Bonds
5. Filing Suit Under Payment Bonds
C. Performance Bonds Claims
1. Types Of Performance Bonds
2. Who May Make A Claim On A Performance Bond?
3. How Sureties Respond To Claims On Performance Bonds
4:15 p.m. - 4:30 p.m.
IV. Question And Answer Period