![]() A lien waiver stating that they indemnify you and your property and that their business (& them personally if able to achieve) will take full responsibility if ever a claim of non-payment appears. Make sure that you receive a lien waiver from the contractor each and every time you provide them with a payment. If your contractor requires such – RUN!! Lien Waivers. Thankfully we didn’t, and while both of the contractors weren’t entirely please with our resistance they eventually got over it. Believe it or not but giving the contractor the authority to withdrawal funds is a somewhat common practice or request – but you’re only asking for trouble if you agree to it. Meaning, if you’ve obtained a construction loan to finance your project, make sure that only you have access to receive and/or order a distribution. Last, have your insurance carrier review the insurance language in the contract as well as the coverage carried by the contractor. Also keep track of the expiration date of the policy to make sure that it covers you throughout the construction period. Call their insurance carrier and verify the amount of coverage & type. Make them supply you with proof and make a copy of it. ![]() Require that the contractor provides you with all of the proper insurance coverage for your project.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |