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.
It enables one to leverage several parties at once. When one is working under someone who subcontracted them, they may be unknown to the owners of the project, when one files a claim, the owner may stop payment of the prime contractor and first deal with the claim. Therefore, you will still get paid at the expense of whoever subcontracted you.
When one fails to honor the agreement and fail to pay the other party, the unpaid party can file a claim in the court. When a claim is already filed, it becomes hard to challenge. This may mean extra charges to the party that failed to honor it and justice will be availed to a claimant. This always puts managers on their toes to ensure that they pay their workers.
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.
It exposes the behaviors of bad managers since many claims are filed against them. This will serve as an inhibitor to others who may want to work with them in the future. They will learn from those who have previously worked with them before. This may be a risk to business growth and development.
It enables one to leverage several parties at once. When one is working under someone who subcontracted them, they may be unknown to the owners of the project, when one files a claim, the owner may stop payment of the prime contractor and first deal with the claim. Therefore, you will still get paid at the expense of whoever subcontracted you.
When one fails to honor the agreement and fail to pay the other party, the unpaid party can file a claim in the court. When a claim is already filed, it becomes hard to challenge. This may mean extra charges to the party that failed to honor it and justice will be availed to a claimant. This always puts managers on their toes to ensure that they pay their workers.
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.
It exposes the behaviors of bad managers since many claims are filed against them. This will serve as an inhibitor to others who may want to work with them in the future. They will learn from those who have previously worked with them before. This may be a risk to business growth and development.
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