The Notice to Owner (NTO) is the most important tool for protecting payment rights in the construction industry. By consistently filing an NTO on every job, construction professionals can safeguard their interests and ensure fair compensation
Preserving Lien Rights
The NTO is the key to making sure lien rights are kept on every project. The NTO sets up a legal basis by letting the right people know in writing that you are working on the project and want to protect your payment rights. It gives you the power to protect the value of your work and gives you options if you aren’t paid. As long as you do not give a final release of lien (using our releases should ensure that) your lien rights should remain intact.” Give conditional Releases when your monies haven’t cleared the bank and Non-Conditionals when once they have.
Establishing Presence
Filing an NTO on every job makes it clear that you have established your right to file a lien in the event that you are not paid, while still working on the job or up to 90 days from your last day. This important tool serves as a statutory requirement of the Florida Construction Lien Law.
Facilitating Communication and Transparency
The NTO is more than just a piece of paper; it helps people and companies talk to each other and share information. If you sign a “Pay when Paid” contract, and you don’t file an NTO, then if the GC doesn’t get paid, you don’t get paid. When you file an NTO, you put all the parties on notice that you can lien the project.
In the construction industry, the Notice to Owner (NTO) is the most important tool for protecting payment rights.. Sunshine Notices Inc is here to help you take advantage of this powerful tool and learn how to use it to ensure your success. File your notice with us today.
Article Originally Posted on LinkedIn Here
