Guide to Miller Act Payment Bond Claim | Expert Webinar скачать в хорошем качестве

Guide to Miller Act Payment Bond Claim | Expert Webinar

How can you use the Miller Act Payment Bond to ensure payment on public jobs? Find out in this expert webinar. -What is the statutory language of the Miller Act (40 U.S.C. S. 3131 – 3134)? Miller Act payment bond will be required if the contract is more than $100,000. Miller Act payment bond will be in the amount of the prime contract unless the contracting officer decides to lower the amount in specific writing with factual findings. Typically the bond will be in the amount of prime contract. Miller Act payment bond cannot be less than performance bond. -What rights do I have under the Miller Act? If you’re hired by a prime contractor, you have Miller Act payment bond rights. If you’re hired by a first tier subcontractor, you have Miller Act payment bond rights. If you’re hired by a second tier subcontractor, you do not have Miller Act payment bond rights. It’s important to note that third tier subcontractors with no direct relationship with first tier subcontractors have no Miller Act payment bond rights. -How does the last furnishing date affect the Miller Act payment bond lawsuit? You cannot initiate a Miller act payment bond lawsuit until 90 days after your final furnishing. If you're owed money and you continue to work, you cannot see the bond until 90 days after your final furnishing on the project. A final furnishing date excludes punch list, warranty or corrective work. -What rights do I have if I’m a subcontractor or supplier in privity with a prime contractor? Subs and suppliers in privity with a prime contractor have Miller act payment bond rights. However, they do not have to serve a notice of nonpayment, but they still must bring an action after 90 days from their final furnishing day. -What do i need to prove if I file a miller Act payment bond claim? You need to prove: (1) You supplied materials / labor in prosecution of the work provided for in the prime contract; (2) You have not been paid; (3) You had a good faith belief that the materials / labor were intended for the specified work; and (4) You meet the jurisdictional requisites of timely notice and filing (timely filed suit and, if required in case of 2nd tier sub or supplier, timely served Notice of Nonpayment) -What do I need to prove if I’m a supplier not in privity with the prime contractor? You do not have to prove materials incorporated into the job or materials delivered to the job, but you still need to prove materials were supplied for prosecution of work provided for in the prime contract and had good faith belief materials intended for job. -What is the service requirement for Notice of Nonpayment for sub-subs and suppliers not in privity with the prime contractor? Sub-subs and suppliers not in privity with prime must serve Notice of Nonpayment within 90 days of final furnishing. Notice of Nonpayment not a requirement of first tier subs or suppliers hired by the prime contractor. Notice of Nonpayment needs to state with substantial accuracy amount claim; failure to do so could be fatal. -What’s the statute of limitations for the Miller Act? An action to file a Miller Act payment bond claim must be brought no later than one year after the day on which the last of the labor was performed or material was supplied by the person bringing the action. -What’s the venue requirement for the Miller Act payment bond claims? You need to sue surety in federal district where work is performed (project is located). The civil action must be brought: (A) in the name of the United States for the use of the person bringing the action; and (B) in the United States District Court for any district in which the contract was to be performed and executed, regardless of the amount in controversy. Levelset’s mission is to empower contractors to always get what they earn. Levelset’s products help millions in the construction industry each year to make payment paperwork and compliance easier, get cash faster, monitor the risk on jobs and contractors, and better understand payment processes and rules. The results are faster payments, access to capital, and fewer surprises. Backed by investors like Horizons Ventures, S3 Ventures, Altos Ventures, Operating Venture Capital, and Brick & Mortar Ventures, Levelset is headquartered in New Orleans, Louisiana, with offices in Austin, Texas, and Cairo, Egypt, and is over 200 employees strong. Learn more at www.levelset.com. Want to become a payment expert? Subscribe to get notified when new construction payment videos are uploaded: https://www.youtube.com/c/levelset?su...