Legal Question in Construction Law in California
Filing against a contractors bond
Our comapny is located in Southern California and we are a material supplier in which a conatractor owes us about $800,000.00. Can we file against his contractors bond for payment?
4 Answers from Attorneys
Re: Filing against a contractors bond
Yes you can make a claim on the bond, and you might also want to consider having an attorney send him a letter, and consider suing him. Let me know if you want my help.
Best,
Daniel Bakondi, Esq.
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Re: Filing against a contractors bond
A contractor's bond is generally only for $12,500 since that is the minimum they are required to carry. You should consider filing a lien against the property or properties for which the materials were supplied assuming you have filed preliminary lien notices. If you have not, even though lien rights are very time sensitive, it may not be too late. There are also a host of other remedies at your disposal, but you need to act sooner rather than later especially in light of the economic environment surrounding construction.
If you would like a free consultation, feel free to contact us.
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714.904.1669
George M.
Re: Filing against a contractors bond
Sure, for all of what, $2,500 to $25,000 or so max? File your lawsuit sooner, rather than later, if you want to get ahead of other creditors seeking judgment and collection, before he goes BK. Feel free to contact me if serious about getting legal help in filing.
Re: Filing against a contractors bond
I agree with co-counsel. Your better bet is to fie a lawsuit now and place a lien against the property where the material was installed.
Also, contact the contractors state licensing board.