This week’s Guest Post Friday is a bit different. This time, I get to “muse” at @andreagoldman’s Massachusetts Builders Blog. Andrea gave me the great opportunity to talk about the Miller Act. Here’s an exerpt:
Federal and State government work are a growth area in construction these days. With the economy in a downturn (though possibly turning around according to ENR), government projects are even more desirable for commercial contractors.
With this trend toward government contracting, becoming the lowest bidder and squeezing your margins is a big temptation, or even necessity. Along with this lower margin comes higher risk.
However, one saving grace for contractors on Federal projects is the Miller Act. Essentially, the Miller Act was created because contractors cannot put a mechanic’s lien on federal government property. It requires that all projects with a contract value over $100,000.00 have a payment and performance bond, provided by the general contractor.
For the rest of my thoughts, click here.
Thanks again to Andrea for the opportunity. I recommend her blog highly.
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Thanks to Andrea Goldman (@andreagoldman) for the great posting opportunity.
.-= Christopher G. Hill´s last blog post ..How a Legal “Blawg” Helps! (Thanks Blog for Profit) =-.
Thanks again to Andrea for the great opportunity!