Bond Claims could be the most important receivable document your company ever files

When a construction project is bonded, the payment bond serves as a guarantee that subcontractors and suppliers will be paid for their work. If the general contractor fails to pay, a bond claim can be filed against the surety bond to recover the amount owed. Bond claims are often faster and more efficient than filing a mechanics lien.

• Bond claims allow subcontractors and suppliers to recover payment directly from the surety company
• Filing a bond claim is often faster than pursuing a mechanics lien on the property
• Bond claims require strict adherence to notice and filing deadlines to be valid
• Express Notices can help you identify whether a project is bonded and file your claim accordingly
• Protecting your bond claim rights can be the difference between getting paid and losing your investment