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Bond Claim. An Ohio public payment bond claim must be received after the claimant’s last date of furnishing labor and/or materials to the project, but no later than 90 days after the project’s completion and acceptance by the public entity. Lien on Contract Funds
- Adams County
You can obtain a recorded copy of your lien in person at the...
- Champaign County
You can obtain a recorded copy of your lien in person at the...
- Adams County
30 Ιουν 2023 · Contract performance bond and payment bond. (A) Before entering into a contract, the director of transportation shall require a contract performance bond and a payment bond with sufficient sureties, as follows: (1) A contract performance bond in an amount equal to one hundred per cent of the contract amount, conditioned, among other things ...
1 Ιουλ 2013 · Section 5525.16 Contract performance bond and payment bond. Effective: July 1, 2013 Legislation: House Bill 51 - 130th General Assembly. Before entering into a contract, the director of transportation shall require a contract performance bond and a payment bond with sufficient sureties, as follows:
A contractor license bond is a type of surety bond required by various states, including Ohio, for contractors to legally operate their business. This bond serves as a financial guarantee that the contractor will adhere to state laws, regulations, and industry standards.
15 Δεκ 2009 · Prime contractors on a public improvement project must furnish a payment bond to the public authority, and thereby agree “to pay all lawful claims of subcontractors, materialmen, and laborers for labor performed or material furnished in carrying forward, performing, or completing the contract; and agree and assent that this undertaking is for ...
An Ohio contractor license bond is a type of surety bond that offers security to customers of contractors. This bond ensures that compensation will be paid if a customer suffers financial losses due to a contractor’s negligence or fraudulent activities on a project.
The public entity must release retainage within 30 days of the project’s substantial completion and occupation, in use, or otherwise accepted. Under the Ohio prompt payment laws, once received, retainage should be passed down to subs and suppliers within 10 days.
