The license bond statute specifically states that the bond is for the benefit, among others, of one who supplies “materials or equipment for the construction covered by the contract”.  NRS 624.273(1)(c).  The statute provides for the recovery of “the amount of damage the person suffered to the extent covered by the bond . . . … Continue reading “Are Interest and Late Fees Recoverable Under a Nevada Contractors License Bond? “

Contractor’s license bonds are required by statute in Nevada (NRS 624.270), and claims against the bond are also governed by statute (NRS 624.274). Therefore familiarity with those statutes is a prerequisite for evaluating a claim. Once a claim is asserted, these basic steps should be taken to assess the validity of that claim. IS THE … Continue reading “The ABC’s of Evaluating Contractor’s License Bond Claims in Nevada”

The Holcomb Decision In Holcomb, the Nevada Supreme Court ruled that “[a] party can contractually agree to a limitations period shorter than that provided by statute in certain circumstances.” Holcomb Condo. Homeowners’ Assn., Inc. v. Stewart Venture, LLC, 300 P.3d 124 (Nev. 2013). The party can do so “as long as there exists no statute … Continue reading “Can Parties Shorten Statutory Limitation Periods?”

By Kurt Faux The Nevada Supreme Court recently determined that an unconditional release from a bottom-tiered contractor to the middle-tiered and higher-tiered contractors did not preclude a claim by the bottom-tiered contractor when the middle-tiered contractor failed to pay. Cashman Equipment Co. v. West Edna Assocs., 132 Nev. Adv. Op. 69 (Sep. 29, 2016). The … Continue reading “How to Avoid Paying Twice for the Same Work”

Margi Grein, executive officer of the Nevada State Contractors Board gave a presentation at our office about issues involving contractors. We had a great discussion. During the presentation she reminded us how to report unlicensed contractors in Nevada through email or through their app, you can find more info at the Board’s website.  

Margi Grein, executive officer of the Nevada State Contractors Board gave a presentation at our office about issues involving contractors. We had a great discussion.  During the presentation she reminded us how to report unlicensed contractors in Nevada through email or through their app, you can find more info at the Board’s website. 

By John Cory & Jordan Faux In general, most payment and performance bonds do not include an arbitration provision. Instead, a surety may be bound to arbitrate when the bond incorporates arbitration provisions in an underlying contract. While the pros and cons of arbitration are not the subject of this article, claimants will often file … Continue reading “Claimants Argue New Nevada Supreme Court Case Obligates Sureties to Arbitrate”

Jordan Faux was one of the presenters at the Contract Surety Bonding Workshop by the Surety & Fidelity Association of Nevada in conjunction with the Nevada Subcontractors Association & Associated Builders and Contractors Nevada.    

By Leland Faux Nevada Revised Statute 482.345 requires a car dealer to post a $100,000 bond for the benefit of consumers. Recently, we’ve noticed an uptick in volume of lawsuits on these types of bonds. This article will provide a brief synopsis of some of the trends we are seeing and how a surety can … Continue reading “Motor Vehicle License Bond Trends in Nevada”

Nevada law provided that every “original contractor” is liable for “indebtedness for labor incurred by any subcontractor or any contractors acting under, by or for the original contractor in performing any labor, construction of other work included in the subject of the original contract, for labor . . . .” NRS 608.150. The statute made … Continue reading “Some Relief for the “Original Contractor” and Sureties Regarding Labor Claims”