B. In order to have retained funds paid to an escrow agent, the contractor, the escrow agent, and the surety shall execute an escrow agreement form. The contractor’s escrow agent shall be a trust company, bank or savings institution with its principal office located in the Commonwealth. The...
the performance bond may provide for incremental bonding in the form of multiple or chronological bonds that, when taken as a whole, equal the contract price. The surety on the performance bond may not be released until one (1) year after the date of the board’s final settlement with the...
may at any time discharge the lien by depositing with the county clerk in whose office the lien claim has been filed either: An amount of money equal to one hundred twenty-five percent (125%) of the lien claim amount; or a corporate surety bond with a penal amount equal to one hundred...
UK Construction Industry Braces for More Challenges After Activity Bottoms Out in Summer 2022 Nevada’s Welcome Home Community Housing Projects: Quick Overview for Contractors 4 Construction Sectors That Could See a Boost from the Inflation Reduction Act ...
UK Construction Industry Braces for More Challenges After Activity Bottoms Out in Summer 2022 Nevada’s Welcome Home Community Housing Projects: Quick Overview for Contractors 4 Construction Sectors That Could See a Boost from the Inflation Reduction Act ...