What is a Mechanic's Lien Bond?
If a contractor allegedly receives no payment for products or services, he or she can file a Mechanic’s Lien that prevents the other party from selling or transfer property and allows the contractor to sue the other party.
With a Mechanic Lien Bond, the surety company guarantees the claim in the event the court enforces the payment of the claim. It guarantees that the payment will be made if the lien is not successfully contested.
Mechanics Lien Surety Bond
For more information about Mechanic Lien Bonds in the Twin Cities area, contact Patrick J. Thomas today.