The following are the slides that go along with Elmore & Wall's full presentation on Mechanics liens and Surety Bonds in South Carolina.
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If you have questions regarding mechanics liens or surety bonds in South Carolina you should seek the advice of a lawyer. Wall Templeton can be reached at 843-329-9500.
This complimentary webinar, featuring Paul Hodnefield, CSC® associate general counsel, explains the different methods a secured party may use to perfect a security interest in fixtures and the priority implications of each option.
This complimentary webinar, featuring Paul Hodnefield, CSC® associate general counsel, explains the different methods a secured party may use to perfect a security interest in fixtures and the priority implications of each option.
Chris Cheatham provides an overview of the intersection between suretyship and green building. If you have ever wondered what exactly is a surety, or how a surety fits into the green building industry, this is the presentation for you.
If you would like to learn more about this or other green building topics, please visit www.greenbuildinglawupdate.com or email Chris at chris@greenbuildinglawupdate.com.
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9. When a construction contract is awarded pursuant to Section 11-353020, the following bonds or security shall be delivered to the using
agency and shall become binding on the parties upon the execution of
the contract:
(i) a performance bond satisfactory to the State, executed by a surety
company meeting the criteria established by the board in regulations, or
otherwise secured in a manner satisfactory to the State, in an amount
equal to one hundred percent of the price specified in the contract;
(ii) a payment bond satisfactory to the State, executed by a surety
company meeting the criteria established by the board in regulations, or
otherwise secured in a manner satisfactory to the State, for the protection
of all persons supplying labor and material to the contractor or its
subcontractors for the performance of the work specified in the contract.
The bond shall be in an amount equal to one hundred percent of the
contract price.
(iii) in the case of a construction contract valued at fifty thousand
dollars or less, the using agency may waive the requirements of (i)
and (ii) above, provided that the using agency has protected the State.
Page 9
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50. Project Name
Owner
GC
Date last
Material
Shipped
Date notice of
Furnishing
Material
Date Notice of
Commence
Date
Building
Permit
Account
Balance
Okraberry at the The Ocean Co.
Farm
Happy GC
01/29/10
02/12/09
104247.78
Fairway Oaks &
Ocean Breezes
Happy GC
09/23/09
02/12/10
12863.62
Dept. of Social
SC Dept. of
ABC Builders
Services Special Social Services
Needs Center
Midlands Center
08/02/09
02/04/10
01/22/09
10/15/08
20874.12
Hogbreath Island Shelbray Assoc., ABC Builders
Island
LP
01/09/10
02/04/10
11/13/08
10/29/08
43800.75
IGA Store
01/24/10
02/04/10
11/14/08
10/26/08
43460.85
08/30/09
02/04/10
11/14/08
10/26/08
15257.68
01/24/10
02/12/10
04/29/09
04/23/09
6608.06
IGAStore
Teakwood
Townhouses
AC Development ABC Builders
Club, LLC
AC Development ABC Builders
Club, LLC
Seascape, LLC Happy GC
Page 50
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