Tarrant Texas Account Stated for Construction Work

Name: Tarrant Texas Account Stated for Construction Work
Brand: US Legal Forms
Rating: 4.73 (482 reviews)

Category:

Loans and Lending - Accounts Receivables

State:

Multi-State

County:

Tarrant

Control #:

US-0160BG

Format:

Instant download

Description

An account stated is a statement between a creditor and a debtor based upon a series of prior transactions. Hence, an account stated arises when a particular amount is owed to the creditor by the debtor as of a certain date. An account stated refers to either an agreement itself or to the assent giving rise to the agreement. The agreement to pay the balance amount can be either express or implied. When the agreement to pay is in the nature of a computation, then it is called account stated.

Bill of Sale for Personal Property

View this form

Final Decree

View this form

How to fill out Tarrant Texas Account Stated For Construction Work?

Preparing legal paperwork can be difficult. Besides, if you decide to ask a lawyer to write a commercial agreement, documents for proprietorship transfer, pre-marital agreement, divorce paperwork, or the Tarrant Account Stated for Construction Work, it may cost you a fortune. So what is the best way to save time and money and draw up legitimate forms in total compliance with your state and local laws? US Legal Forms is a perfect solution, whether you're looking for templates for your personal or business needs.

US Legal Forms is the most extensive online collection of state-specific legal documents, providing users with the up-to-date and professionally verified templates for any scenario gathered all in one place. Consequently, if you need the latest version of the Tarrant Account Stated for Construction Work, you can easily find it on our platform. Obtaining the papers requires a minimum of time. Those who already have an account should check their subscription to be valid, log in, and select the sample with the Download button. If you haven't subscribed yet, here's how you can get the Tarrant Account Stated for Construction Work:

Look through the page and verify there is a sample for your region.
Examine the form description and use the Preview option, if available, to make sure it's the sample you need.
Don't worry if the form doesn't satisfy your requirements - search for the correct one in the header.
Click Buy Now when you find the required sample and pick the best suitable subscription.
Log in or sign up for an account to purchase your subscription.
Make a transaction with a credit card or via PayPal.
Choose the document format for your Tarrant Account Stated for Construction Work and download it.

When finished, you can print it out and complete it on paper or import the template to an online editor for a faster and more convenient fill-out. US Legal Forms enables you to use all the documents ever purchased many times - you can find your templates in the My Forms tab in your profile. Try it out now!

Form Rating

4.73

Satisfied(482)

Form popularity

FAQ

When retainage is held back in each progress payment, the contractor must account for it in each pay app. This can be done by billing for the full amount of that payment, less the retainage and showing the new number in the final billing total.

Retainage is meant to encourage productivity and efficiency. It provides financial incentive for a contractor to finish the job and do it well. Many consider it the most effective insurance policy an owner has over contractors, and contractors over subcontractors and suppliers.

2022 CHANGES Under §53.052(d), a lien for retainage must be filed no later than the 15th day of the 3rd month after the month the original contract was completed, terminated, or abandoned.

Section 2782.05(e) sets out the steps a general contractor or construction manager must take to enable a defense from a subcontractor. Significantly, a subcontractor has no obligation to defend unless and until the general contractor or construction manager provides a written tender of the claim.

Generally, under Texas law, an entity that employs an independent contractor does not maintain a duty to ensure that the subcontractor performs its work safely. However, an exception applies when the contractor maintains some level of control over the way the contractor performs the work that caused the damage.

Subcontractors undertake a contract from the contractor. Subcontractors undertake work that a contractor cannot do but for which the contractor is responsible.

Workers' Compensation Insurance Workers' comp pays for injuries regardless of whether or not the employer's negligence contributed to the incident. If you hire an employee of a licensed general contractor or subcontractor, it is typically safe to assume that workers' compensation will cover his or her injuries.

Texas law obligates construction owners to withhold 10% of the value of the work during the course of a project and for 30 days after final completion. This is generally known as statutory retainage.

A general rule of contributory negligence is that a main contractor is not liable for the negligence of its independent subcontractor. There are some exceptions to this rule, including: The main contractor had actual knowledge that the sub-contractor's work had been done in a foreseeably dangerous way and condoned it.

Interesting Questions

More info

Texas contractors enjoy strong lien rights, protecting them in the event of non-payment after a construction project. When initially established, TCC Connect Campus was virtual only with administrators and faculty using offices in the existing TCC Campuses.Tarrant Regional Water District says yes. The LCM accounts for the fluctuation in the cost of building materials, labor, and equipment from one area of the country to another. The North Tarrant Express is a 13. Tarrant Roofing is a roofing company in Fort Worth, Texas since 1994. We provide all Tarrant County roofing service needs. Come see us or call 817-413-4000 today! 501 W. 10th St. Fort Worth, TX 76102-3643. Lubbock. George Mahon Federal Building 1205 Texas Ave.

Tarrant Texas Account Stated for Construction Work

Description

Related forms

Viewed forms

How to fill out Tarrant Texas Account Stated For Construction Work?

Show more info

Form Rating

Form popularity

FAQ

How do you account for construction retainage?

Why do owners insist in retainage?

Can you file a lien on retainage in Texas?

Should a general contractor indemnify a subcontractor?

Are general contractors liable for subcontractors in Texas?

Who is responsible for subcontractors?

Who is liable for injured subcontractors Texas?

How does retainage work in Texas?

Is retainage required in Texas?

Is main contractor liable for subcontractor?

Interesting Questions

What is a Tarrant Account Stated for Construction Work?

How is an Account Stated different from a regular invoice?

When is an Account Stated typically used in construction?

What information should be included in a Tarrant Account Stated for Construction Work?

Why is it important to have an Account Stated for construction work?

Can an Account Stated be used as evidence in legal proceedings?

More info

Trusted and secure by over 3 million people of the world’s leading companies