Mechanic’s Lien and Bond Waivers: Reading and Revising Waivers to Protect Security Rights
- Mon, March 2, 2020, 03:00 - 04:00
Cost: Members: $95
Registration Includes: One telephone and web connection at one physical location
US: 3:00pm – 4:00pm ET
About the Webinar
Creditors are typically asked to sign waivers in exchange for payments received. The customer and project owner are certainly entitled to a receipt for payments. However, common Mechanic’s Lien and Bond Claim Waiver forms go much further than this. You can easily waive your lien and bond rights for retention and change orders. Some waivers actually extinguish your lien and bond rights for future deliveries. What if you sign a waiver and never receive the payment?
You must learn to be careful with the effective dates of waivers to make sure you are not waiving rights for recent deliveries not included in this payment. Exclude retention and pending change orders. What if your customer files bankruptcy within 90 days of the payment? Was this payment a bankruptcy preference, even though you had lien or bond rights at the time of payment? Learn to make all Mechanic’s Lien and Bond Claim Waivers conditional to protect against all these problems. Protect and preserve your lien and bond secured creditor status.
About the Speaker
James Fullerton, Esq.
James D. Fullerton, Esq., the president of the law firm of Fullerton & Knowles, P.C., which has attorneys licensed in Virginia, Maryland, Pennsylvania and the District of Columbia, is a Martindale Hubbell Peer Rated Lawyer AV® Preeminent. ™ Jim represents owners, lenders, design professionals, suppliers, subcontractors, general contractors and other members of the real estate and construction industries region-wide. Fullerton’s system allows his company to file mechanic’s liens, surety bond and other construction claims across all of the states in the Mid-Atlantic region and represent creditors in bankruptcy issues nationwide, particularly defense of bankruptcy preference claims. He advises on all real estate and construction law issues; public procurement and bidding, contract formation and disputes; defects in labor and materials; design defects in plans and specifications; inefficiency, impact and delay claims; mechanic's lien and bond rights; litigation, arbitration and mediation in public and private projects; joint ventures, mentor protégée agreements and other arrangements for minority and disadvantaged business enterprises; bank and lender representation; commercial transactions and loan closings; sales contracts and leases. In connection with his comprehensive representation of clients, he offers diverse experience in general business matters, including corporate formation and decision-making, buying and selling businesses, bankruptcy, employment issues, governmental regulation and real estate.
Jim is also a master brick mason, a licensed real estate broker and the owner of Summit Real Estate. He is Counsel to Board of Directors, Virginia Precast Concrete Association; and is Counsel to Board of Directors, Central Atlantic Precast Concrete Association. He graduated from the University of Colorado and the University of Virginia School of Law.
The firm’s Construction Law Survival Manual is well known and widely used by participants in the construction process. The 750-page manual provides valuable information about construction contract litigation, mechanic’s liens, payment bond claims, bankruptcy and credit management and contains over 30 commonly used contract forms.
Instructions to join the Webinar will be sent to the main registrant's email address the day before. Remember! please log-in at least 15 minutes prior to the webinar commencing to ensure ample time for technical assistance if needed.