A mechanics lien bond is required of owners when there is a payment dispute regarding services or materials rendered on a construction project. A lien is usually filed on the owner’s property by a contractor when there is a dispute regarding payment for services that were provided on the job. The lien is used by the contractor to take the owner’s property lawfully and foreclose it an attempt to secure payment for services/materials that were performed/added to the property.
A release of lien surety bond permits the owner to release the mechanic's lien, which returns the legal right to sell the property in question to the owner. This bond guarantees any payment that is due to the contractor who filed the lien (including interest) will be paid should they win the case.
How much does this bond cost?
The cost is usually 2 – 5% of the bond amount, but will often require collateral. The pricing varies based on the bond amount, and the specifics of the dispute.
What is the process?
Apply and get approved on our website, sign the surety agreements, and we will ship the bond out. If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.
Can I get this bond with bad credit?
It’s possible, but 100% collateral is almost always required in this scenario.
Does it matter where I get a bond?
Yes. We provide the lowest rates possible as a result of the large volume of bonds we write.
What if a false claim is filed?
You must contact us immediately, as we have a team of claim specialists here to find a resolution for you. Keep in mind, it is crucial that you work with an expert in the surety industry. Learn more about how to ensure you choose the proper bond company.
Our company has been with JW Surety for several years now so when we needed to obtain a bond for a new company, we immediately went to them for help. Our rep, Melissa, was extremely helpful and prompt which made the process extremely easy for me.
Trying to get a local Surety Bond was like driving a car on three tires. I searched Surety Bonds and found JW Surety Bonds. I got online and filled out the information and with in 30 minutes received a response from Melissa. She was informative, friendly and helpful. One more super satisfied customer.
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We are a family owned and operated agency established in 2003. We started with just two people, and grew to become the largest volume bond producer in the nation with 50+ employees. Since day one, our team focus has been on providing real-time online quotes, an easy process, and the best in claims defense. Learn more about our company.