OPEN BIDS

Not paying for lapse of Ins?

May 15, 2009
6:19 PM

nitrox2595

Member

Forum Posts: 79

Member Since:
December 25, 2006

Offline

Thanks... I did sent them a hold harmless and no loss notarized letter, and all seems well now.. thanks

May 14, 2009
5:21 AM

NYC Demo

Member

Forum Posts: 57

Member Since:
February 3, 2007

Offline

GCs hold payment for anything. A lapse is a major thing. Offer him a notarized no loss letter stating that from day 1 of lapse to day x of lapse there were no losses, accidents, injuries, etc. In addition, provide him with a reinstatement letter from your broker. Lastly, make sure you have lien waivers, requisitions, etc. ready, accurate and signed. He should release payment.

May 13, 2009
4:56 PM

nitrox2595

Member

Forum Posts: 79

Member Since:
December 25, 2006

Offline

Can a GC withold payment on a job because of a lapse of insurance? We had an 8 day lapse, unknown to me, while on a job for a GC we have done work for in the past. He did give me 10K out of 50K, but now he is saying that the check(s) are ready but bc of the lapse he cannot release payment. My insurance company may not backdate or sign off, but there was no claims or damage during the 8 days.Is this legal? can he withold pymnt because of a lapse?

All RSS

Forum Timezone: America/New_York

Most Users Ever Online: 429

Currently Online:
42 Guest(s)

Currently Browsing this Page:
1 Guest(s)