North Carolina Bond Claim Notice

• Category: Construction - Contractors - Bonds
• State: Multi-State
• Control #: US-CONST3
• Format: Word; Rich Text

Description

This form may be completed and used by a subcontractor or supplier who has not been fully paid on a project and is seeking payment from the surety (insurer) under the terms of a payment bond. In construction, a payment bond is a bond on the general contractor to ensure payment to subcontractors and suppliers. North Carolina Bond Claim Notice is a legal document filed by a subcontractor or supplier to notify the general contractor or project owner that they have not been paid for their work or materials furnished on a bonded construction project in North Carolina. It acts as a formal demand for payment and establishes the claimant's right to payment from the bond provided by the general contractor. To initiate the bond claim process, the claimant must serve a written Bond Claim Notice to the general contractor or the surety company within 120 days from the last date of furnishing labor or materials. This notice must contain specific information to be valid and enforceable. Keywords: North Carolina, Bond Claim Notice, subcontractor, supplier, legal document, construction project, payment, bonded, general contractor, project owner, demand, establish, claimant, bond, written notice, surety company, enforceable. There are two main types of North Carolina Bond Claim Notice: 1. Preliminary Notice: This serves as a preliminary notification to the general contractor and/or surety company that the claimant will be seeking payment from the bond. It is a precautionary measure taken by the claimant to protect their right to make a bond claim in the future. Preliminary Notice must be served within 75 days from the claimant's first furnishing of labor or materials on the project. Keywords: North Carolina, Bond Claim Notice, preliminary, notification, general contractor, surety company, payment, bond, claimant, precautionary measure, right, future, served, furnishing, labor, materials. 2. Notice of Bond Claim: This is the formal demand for payment from the general contractor or surety company after the claimant has not received payment for their work or materials. Notice of Bond Claim must be served within 120 days from the last date of furnishing labor or materials. It must include specific information such as the amount claimed, a description of the labor or materials provided, the name and address of the claimant, and the general contractor's name and address. Keywords: North Carolina, Bond Claim Notice, formal demand, payment, general contractor, surety company, claimant, received, work, materials, specific information, amount claimed, description, labor, address, name.

North Carolina Bond Claim Notice is a legal document filed by a subcontractor or supplier to notify the general contractor or project owner that they have not been paid for their work or materials furnished on a bonded construction project in North Carolina. It acts as a formal demand for payment and establishes the claimant's right to payment from the bond provided by the general contractor. To initiate the bond claim process, the claimant must serve a written Bond Claim Notice to the general contractor or the surety company within 120 days from the last date of furnishing labor or materials. This notice must contain specific information to be valid and enforceable. Keywords: North Carolina, Bond Claim Notice, subcontractor, supplier, legal document, construction project, payment, bonded, general contractor, project owner, demand, establish, claimant, bond, written notice, surety company, enforceable. There are two main types of North Carolina Bond Claim Notice: 1. Preliminary Notice: This serves as a preliminary notification to the general contractor and/or surety company that the claimant will be seeking payment from the bond. It is a precautionary measure taken by the claimant to protect their right to make a bond claim in the future. Preliminary Notice must be served within 75 days from the claimant's first furnishing of labor or materials on the project. Keywords: North Carolina, Bond Claim Notice, preliminary, notification, general contractor, surety company, payment, bond, claimant, precautionary measure, right, future, served, furnishing, labor, materials. 2. Notice of Bond Claim: This is the formal demand for payment from the general contractor or surety company after the claimant has not received payment for their work or materials. Notice of Bond Claim must be served within 120 days from the last date of furnishing labor or materials. It must include specific information such as the amount claimed, a description of the labor or materials provided, the name and address of the claimant, and the general contractor's name and address. Keywords: North Carolina, Bond Claim Notice, formal demand, payment, general contractor, surety company, claimant, received, work, materials, specific information, amount claimed, description, labor, address, name.