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In Mechanics lien law a Preliminary Notice (also known as a Notice to Owner, Materialmens Notice to Owner, Notice of Furnishing, Contractor/Subcontractors Notice to Owner, and others) is a notice sent by the general contractor, subcontractor, materialmen, equipment lessors or other parties to a construction project not to create a Mechanics lien but rather to establish the right to file a ...
A special use of the term "late fee" is postal surcharge once required by post offices to expedite delivery of a letter posted later than the normal pick-up time. For example, in Britain in 1856, a letter could be included in the night's mail for an extra pence if by 6:45 p.m. at the local office, for a tuppence by 7:15 p.m. at the Chief or ...
Notice Requirements: 45 days' notice to surety required prior to suit (§39-1-1(b)) Other: Venue allowed in county where the project was located, or where otherwise provided by law (§39-1-1(c)); Attorneys fees and interest allowed if unpaid on 45-day notice (§39-1-1(c)); Contractor must advertise notice of contract settlement (§39-1-1(f)).
A good example are items that are not intended to be permanent, but nevertheless, necessary in the course of construction. A temporary construction fence may be required, may serve a valuable function in safety and security, but is never expected to become part of the realty, so therefore is not a cost that is permitted under a mechanic's lien.
A guaranteed maximum price (also known as GMP, not-to-exceed price, NTE, or NTX) contract is a cost-type contract (also known as an open-book contract) such that the contractor is compensated for actual costs incurred plus a fixed fee, which is limited to a maximum price. The contractor is responsible for cost overruns greater than the ...
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In cost plus fixed fee, the owner pays the contractor an agreed amount over and above the documented cost of work. [10] This is a negotiated type of contract where actual and direct costs are paid for and additional fee is given for overhead and profit is normally negotiated among parties.
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