When a contractor, subcontractor or supplier records a mechanic's lien on a property, the owner or general contractor can post a bond to release the lien. The claim then moves from the property to the bond, so the property can be sold or refinanced while the dispute is settled.
The lien, the dispute behind it and your finances. Because the bond can pay out if the claimant wins, sureties often look closely at the dispute.
No. It only moves the claim from the property to the bond. The claimant can still sue, and if they win, the bond pays.
Usually with the county recorder where the lien was recorded, or with the court if a lien lawsuit is already open.
You pay a premium, not the bond amount. The surety sets the premium after it reviews your application, usually as a percentage of the bond amount. We show you the terms before you commit.
Apply once with us. We collect the details the surety needs, Propeller Bonds (our surety partner) reviews the application and issues the bond, and we help you file it with whoever requires it.
One application, reviewed by our surety partner Propeller. We show you the terms before you commit.