The following are the slides that go along with Elmore & Wall's full presentation on Mechanics liens and Surety Bonds in South Carolina.
General Disclaimer:
The information on these pages is provided as a public service. Information contained in these pages is not intended as, and should not be taken as, legal advice. The use of the information provided in these pages should not be taken as establishing any contractual or other form of attorney-client relationship between anyone or any law firm and the reader or user of this information. A result achieved on behalf of one client in one matter does not necessarily indicate similar results can be obtained for other clients.
PLEASE NOTE: While we would like to hear from you, please understand that merely contacting us does not create an attorney-client relationship. We cannot become your lawyers or represent you in any way unless (1) we know that doing so would not create a conflict of interest with any of the clients we represent, and (2) satisfactory arrangements have been made with us for representation. Accordingly, please do not send us any information about any matter that may involve you unless we have agreed that we will be your lawyers and represent your interests and you have received a letter from us to that effect (called an “engagement letter”).
This content is designed for general information only. The information presented shall not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
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.
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
www.WallTempleton.com
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
www.WallTempleton.com