LIEN
ENCOMBRANCE OR "CLOUD" PLACED UPON THE LEGAL TITLE TO A PIECE OF REALESTATE.
WHAT IS A LIEN
THIS IS DONE WHEN NO WAIVER IS RECIEVED FOR SUPPLIER NOTICES
WHAT IS HOLDING SBCONTRACTOR PAYMENTS
_____ IS ONLY REQUIRED ON PUBLIC PROJECTS
A BOND
WHEN ARE OWNER BILLINGS DUE?
3RD BUSINESS DAY OF THE MONTH
THE _______ _________ MAINTAINS COMPLIANCE (ADDS/CLEARS) FOR JOINT CHECK AGREEMENTS THROUGH OUT THE LIFE OF THE PROJECT
PROJECT ACCOUNTANT
THESE 3 PEOPLE ARE NOTIFIED WHEN A LIEN IS PLACED ON A PROJECT?
PROJECT ACCOUNTANT
DIVISION CONTROLLER
DIVISION PRESIDENT
THIS WAIVER IS USED ONCE A SUB IS PAID FOR PROGRESS PAYMENT
WHAT IS AN UNCONDITIONAL WAIVER
CONTRACT IS OVER $250,000, A SUBCONTRACTOR MUST BE _____?
BONDED
WHEN IS ACCOUNTING CUT OFF?
1ST BUSINESS DAY OF THE MONTH
ALL WAIVERS AND VENDOR EMAILS SHOUD BE UPLOADED IN CMIC UNDER __________
THEIR JOINT CHECK AGREEMENT
A WAY TO MINIMIZE NOTICES OR INTENT TO LIEN
WHAT IS GETTING PAID ASAP
THIS WAIVER IS USED ONCE A SUB IS FINAL PAID
WHAT IS AN UNCONDITIONAL FINAL WAIVER
WHAT DO US AS ACCOUNTANTS NEED TO DO ONCE WE HAVE BEEN NOTIFIED OF SUBCONTRACTOR BANKRUPTCY?
PUT A HOLD ON CONTRACT AND NOTIFY DIVISION PRESIDENT AND DIVISION CONTROLLER.
WHEN ARE SUBCONTRACTOR BILLINGS DUE?
20TH OF THE MONTH
ONCE A JOINT CHECK HAS BEEN PRINTED WHAT NEEDS TO HAPPEN?
MUST BE ENDORSED BY OUR SUB BEFORE WE MAIL TO SUPPLIER
RECORDING A LIEN RELEASE OR FAILING TO TIMELY FLE SUTE TO FORECLOSE A LIEN ALLOW FOR A LIEN TO BE ________
THESE ITEMS BELOW ARE NEEDED SPECIFICALLY FOR WHAT?
1. CONDITIONAL FINAL WAIVER
2. ORIGINAL CONSENT OF SURETY
3. ALL CO'S SIGNED AND UPLOADED
4. ALL NOTICES CLEARED OUT/WAIVERS RECEIVED
5. INSURANCE IS UP TO DATE
WHAT IS FINAL PAYMENT/RELEASE OF RETAIANGE
_____ CAN BE USED TO DEVIATE FROM OUR BONDING POLICY
WHAT IS A BOND WAIVER
OUR CONTRACT STATES SUBS WILL BE FUNDED WITHIN HOW MANY DAYS OF US RECEIVING PAYMENT?
7 DAYS
WHAT 3 SIGNATURES ARE NEEDED FOR THE JOINT CHECK AGREEMENTS?
1. PROJECT MANAGER
2. SUBCONTRACTORS VENDOR
3. SUBCONTRACTOR
WHAT CAUSES UNMOTIVATED SUBCONTRACTORS?
WHAT ARE LATE PAYMENTS
LIVE TEAM WORK
BUILD TRUST
THINK LIKE AN OWNER
BE PROFESSIONAL
BE PASSIONATE
THE SPAWGLASS PROVEN PROCESS/CORE VALUES
WHEN A PROJECT IS BONDED A SUBCONTRATOR CAN ONLY CLAIM AGAINST THE ______ OF A BOND
SURETY
SUPPLIER NOTICES ARE SENT OUT ON WHAT DATE?
WHAT IS THE 15TH BUSINESS DAY OF THE MONTH
WHAT IS NEEDED WHEN A VENDOR HAS NO OPEN INVOICES FOR A SPECIFIC PERIOD?
DIRECT EMAIL FROM THE SUB STATING VENDOR HAS A ZERO DOLLAR BALANCE.