When people acquire property or construct a project, he/she bears in mind that risks and uncertainties are most likely to occur. Therefore, owners of property or projects take a policy against those risks and uncertainties in case they will occur. NY lien services increase the confidence of an investor that their property will not be sold or transferred without customer claim being paid as per the agreement. This will enforce the debtor to work to achieve their objective.
When someone starts to construct a project there is a possibility that they must acquire a lender which is the bank or a third party to finance the project. The construction lender finances the project against a mortgage or any other security. When a claim is filed, the lenders will step in to demand an action. Therefore, with a security, one will get the attention of a lender.
At times, in many working places, people may consider other employees important than others, so making one receive special treatment than others. Therefore, it ensures that other workers are not sacrificed and exploited at the expense of others because everyone knows their duties and responsibilities. This will act as a protection tool.
When one has a lien against their work, this will put the manager on toes to ensure that you are paid as per the agreement. Project managers or owners may just raise unnecessary complains about your work, saying it is incomplete or not well done so as they default. When a client decides to file a lien against them, they quickly pay because they understand how costly it is.
When firms are working to meet strict deadlines, this is a sign that they will meet their set objectives and plans within their time frame. This means that employee productivity will go up hence improving their performance. This will positively contribute to the growth and expansion of the firms. This contributes positively to economic growth and development of a country.
Also, lien increases your confidence because you are assured of payment especially where the project is financed by a lender. The lender wants to ensure that the project is completed in time so that they will be paid their money back. When the customer fails to honor payment and claim is filed, the lender will direct the owner to make payment fast so as to prevent the claim from going through so that they will still have security against their loan.
Many suppliers and subcontractors in the modern world face the challenge of not being paid for their work because the owner may claim they do not know them. Since they have been subcontracted it is the responsibility of the main contractor, to pay them. This may fail to be done, therefore, when one files a lien against, you will get owners attention because they may end up in court if they fail to honor your request.
When one party fails to honor the request of the other party as per their agreement, it may lead to the breach of contract especially in a case where many parties are involved. This is because when one party files lien against another, it creates the attention of the other parties leading to a breach of contract.
When someone starts to construct a project there is a possibility that they must acquire a lender which is the bank or a third party to finance the project. The construction lender finances the project against a mortgage or any other security. When a claim is filed, the lenders will step in to demand an action. Therefore, with a security, one will get the attention of a lender.
At times, in many working places, people may consider other employees important than others, so making one receive special treatment than others. Therefore, it ensures that other workers are not sacrificed and exploited at the expense of others because everyone knows their duties and responsibilities. This will act as a protection tool.
When one has a lien against their work, this will put the manager on toes to ensure that you are paid as per the agreement. Project managers or owners may just raise unnecessary complains about your work, saying it is incomplete or not well done so as they default. When a client decides to file a lien against them, they quickly pay because they understand how costly it is.
When firms are working to meet strict deadlines, this is a sign that they will meet their set objectives and plans within their time frame. This means that employee productivity will go up hence improving their performance. This will positively contribute to the growth and expansion of the firms. This contributes positively to economic growth and development of a country.
Also, lien increases your confidence because you are assured of payment especially where the project is financed by a lender. The lender wants to ensure that the project is completed in time so that they will be paid their money back. When the customer fails to honor payment and claim is filed, the lender will direct the owner to make payment fast so as to prevent the claim from going through so that they will still have security against their loan.
Many suppliers and subcontractors in the modern world face the challenge of not being paid for their work because the owner may claim they do not know them. Since they have been subcontracted it is the responsibility of the main contractor, to pay them. This may fail to be done, therefore, when one files a lien against, you will get owners attention because they may end up in court if they fail to honor your request.
When one party fails to honor the request of the other party as per their agreement, it may lead to the breach of contract especially in a case where many parties are involved. This is because when one party files lien against another, it creates the attention of the other parties leading to a breach of contract.
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