Bond and Retainage Claims
[vc_row][vc_column][vc_custom_heading text=”Overview:” font_container=”tag:h3|text_align:left|color:%23715e46″ use_theme_fonts=”yes”][vc_column_text]While a lien on a private works project is available when a project is privately owned, no such remedy is available for public projects. Liens are not allowed on federally or publicly owned property. Instead, state and federal laws require that the general contractor furnish a payment bond for the benefit of subcontractors and suppliers. Washington State law also mandates that the public body retain 5% as a “trust fund” for unpaid subcontractors and suppliers.
While these remedies are some assurance of payment, they require, as do private works, strict compliance with various notice and filing requirements. There are critical deadlines for the filing of the claim and additional requirements for the timely filing of a lawsuit in order to perfect this remedy.
The attorneys at Durkee & Hennessey are well experienced with the proper filing and perfection of these public works remedies referred to as the “Bond and Retainage Rights”.