We are happy to announce that Mark Cobb will be speaking on creditors rights to a group of lumber and building supply owners at a roundtable forum sponsored by the Construction Suppliers Association (CSA) on Monday, November 10, 2014 and hosted by Fuller Building Supply Company.
Mark will be discussing several topics related to material suppliers and their rights under Georgia law including the following:
Credit Applications and Personal Guarantees: Mark will discuss the importance of gathering information from the very beginning of the credit process to make debt issues easier to collect in the future. Mark will offer tips on
- How to create a more thorough credit application
- How to get updates for your credit applications and personal guarantees
- Easy ways to verify the information on the credit application
- Personal Guarantees greatly increase the likelihood of recovery
- Terms and conditions can make it easier and less expensive if you have to collect bad debt
Georgia’s Statutory Construction Notice Scheme: Mark will lead the discussion on the advantages and disadvantages of the Georgia’s notice scheme including:
- Useful information found on the Notice of Commencement
- When to send a Notice to Owner/Notice to Contractors (Notice of Furnishing)
- Practical tips to make the process smoother
Georgia’s Lien Waivers: Mark will introduce the attendees to the only authorized forms (for interim and final lien waivers) as well as:
- Conditional waivers v. unconditional waivers
- Lien waivers potentially shorten the deadline for filing a Georgia materialmen’s lien
- What to do if you don’t receive payment within 60 days
- Georgia Affidavits of Nonpayment
Georgia Preliminary Liens: Mark will introduce the collection process by clarifying the following:
- The difference with preliminary liens and standard materialmen’s liens
- Who should file the preliminary lien
- When should a creditor use / file a preliminary lien
- When preliminary liens expire
Georgia Materialmen’s Lien Law: Because of the numerous advantages to creditors in Georgia who supply materials (or labor or services), Mark will give an in depth presentation on Georgia’s lien laws including the following:
- When to file a lien in Georgia?
- The deadline for filing a lien
- What amounts are lienable?
- The statutory requirements for filing a lien?
- How to enforce a lien?
- Why does lien enforcement usually take two law suits?
Collection Suits: Although many materialmen’s lien claims are resolved without have to enforce them, sometimes creditors must take the next step. Mark will discuss:
- When is Georgia Magistrate Court appropriate?
- Venue and jurisdiction
- Types of judgments (i.e., judgment liens)
- Lawsuits to foreclose a materialmen’s lien
- Other collection lawsuits (e.g., garnishment of wages, bank accounts, etc.)
Claims Against Public Works Projects: Since construction liens cannot be placed against publically owned projects (projects owned by the federal, state or local governments), Mark will discuss the basics of payment bond claims:
- Payment bonds covering private construction projects in Georgia
- Payment bond requirement under federal law
- Payment bond requirements under state law
- Deadlines for making payment bond claims for nonpayment
- The claims process for payment bond claims (surety claims)
- Suits to enforce payment under a payment bond