Oakland Michigan Bond Claim Notice

• Category: Construction - Contractors - Bonds
• State: Multi-State
• County: Oakland
• 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. Oakland Michigan Bond Claim Notice is a legal document that serves as a formal notice to those involved in public construction projects in Oakland County, Michigan. This notice is essential for subcontractors, suppliers, and material providers who have not been paid for their services or supplies. The purpose of the Bond Claim Notice is to inform the general contractor, owner, and bonding company about the non-payment issue and assert the claimant's right to seek payment through the bond. As per the Michigan Public Act 108 of 1933, this notice is a prerequisite for taking legal action against the bond. There are two types of Oakland Michigan Bond Claim Notices: First-tier and Second-tier notices. 1. First-tier Bond Claim Notice: This type of notice is typically issued by subcontractors or material suppliers who directly contract with the general contractor. According to the Michigan law, these claimants must provide written notice to the general contractor within 90 days of the last date of performing their work or supplying materials. Failure to provide this notice within the specified timeframe can jeopardize the claimant's right to recover payment through the bond. 2. Second-tier Bond Claim Notice: This notice is relevant for parties who are not in direct contract with the general contractor but have a contract with a subcontractor or supplier. These claimants must serve a written notice to the general contractor within 120 days of their last date of work or material supply. Again, failing to meet this deadline may undermine the claimant's ability to seek payment through the bond. It is crucial for claimants to include specific information in the Bond Claim Notice, such as project details (name, location, owner, general contractor), claimant's contact information, description of work or materials provided, dates of work or delivery, amount owed, and a statement asserting the claimant's right to payment through the bond. Submitting the Oakland Michigan Bond Claim Notice correctly and on time is vital to protect the claimant's rights and ensure prompt payment. Consultation with an attorney or legal professional experienced in Michigan construction and bond claim laws is strongly recommended for proper guidance through the process.

Oakland Michigan Bond Claim Notice is a legal document that serves as a formal notice to those involved in public construction projects in Oakland County, Michigan. This notice is essential for subcontractors, suppliers, and material providers who have not been paid for their services or supplies. The purpose of the Bond Claim Notice is to inform the general contractor, owner, and bonding company about the non-payment issue and assert the claimant's right to seek payment through the bond. As per the Michigan Public Act 108 of 1933, this notice is a prerequisite for taking legal action against the bond. There are two types of Oakland Michigan Bond Claim Notices: First-tier and Second-tier notices. 1. First-tier Bond Claim Notice: This type of notice is typically issued by subcontractors or material suppliers who directly contract with the general contractor. According to the Michigan law, these claimants must provide written notice to the general contractor within 90 days of the last date of performing their work or supplying materials. Failure to provide this notice within the specified timeframe can jeopardize the claimant's right to recover payment through the bond. 2. Second-tier Bond Claim Notice: This notice is relevant for parties who are not in direct contract with the general contractor but have a contract with a subcontractor or supplier. These claimants must serve a written notice to the general contractor within 120 days of their last date of work or material supply. Again, failing to meet this deadline may undermine the claimant's ability to seek payment through the bond. It is crucial for claimants to include specific information in the Bond Claim Notice, such as project details (name, location, owner, general contractor), claimant's contact information, description of work or materials provided, dates of work or delivery, amount owed, and a statement asserting the claimant's right to payment through the bond. Submitting the Oakland Michigan Bond Claim Notice correctly and on time is vital to protect the claimant's rights and ensure prompt payment. Consultation with an attorney or legal professional experienced in Michigan construction and bond claim laws is strongly recommended for proper guidance through the process.