Bảo hiểm & Quyền cầm giữCâu 1521 / 1605
Which is the BEST description of the relationship between a payment bond and subcontractors' lien rights on a private project?
a.The payment bond is only for the owner's benefit and helps no subcontractor
b.The payment bond replaces the need for a preliminary notice
c.The payment bond eliminates all lien rights of subcontractors
d.The payment bond gives subs an additional source of recovery (the surety) alongside potential lien and stop-notice remedies
Giải thích
A payment bond provides subcontractors and suppliers an added avenue of recovery against the surety if they are not paid, supplementing lien and stop payment notice remedies. It does not by itself extinguish lien rights or excuse required preliminary notices.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- When an owner is added as an 'additional insured' on the general contractor's liability policy, which document actually grants that status?
- Willfully failing to secure required workers' compensation insurance in California is:
- A subcontractor serves a stop payment notice on the private owner (not bonded). The owner is then obligated to:
- The typical penal sum of a mechanics lien release bond required to clear a lien from title is:
- Under the mechanics lien law, a 'direct contractor' is best defined as a contractor who:
- A general liability policy written on a 'claims-made' basis (as opposed to 'occurrence') generally covers a claim only if:
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)