by Kurt Faux & Willi Siepmann In most cases, the maximum exposure of the Surety is the penal sum of the bond. However, there are exceptions when the surety litigates … Continue reading “License Bond Penal Sum Issues in Nevada”

For most contractors in Nevada, the Nevada State Contractors Board (“NSCB”) requires the contractor to obtain a license bond or to post a cash bond in order to get a contractor’s license. These bonds vary in amounts between $5,000 and $50,000, with those amounts, which are also known as ‘penal sums’ set by the NSCB depending on the license history of the contractor and the license amount. This article will address the following questions:

Attempts to Circumvent the Nevada DMV Dealer Bond Coverage by Financial Institutions Nevada law requires that motor vehicle dealers in Nevada post a $100,000 surety bond. NRS 482.345. Its metes … Continue reading “The Assignment Scheme”

By Willi Siepmann In Nevada only a “consumer” has standing to assert a claim against a motor vehicle dealer bond.  The bond is only “for the use and benefit of … Continue reading “Can a Lender Recover Against a Nevada DMV Bond as Assignee of a Consumer?”

Many construction subcontracts contain so-called “pay-if-paid” clauses by which the higher-tiered contractor seeks to protect itself from claims by lower-tiered contractors, when the higher-tiered contractor has not been paid by … Continue reading “New Court Decision Regarding Enforcement of “Pay-if-Paid” Clauses in Construction Subcontracts in Nevada”

Critical to the surety is the collateral security provision of the General Indemnity Agreement. This provision authorizes the surety to obtain funds from the Indemnitor prior to incurring any loss. … Continue reading “Tips on Winning the Collateral Security Motion”

Over the last several years, Faux Law has litigated and evaluated multiple claims against Utah DMV dealer bonds, and this article will address common issues and problems which have arisen … Continue reading “Potential Issues in Evaluating DMV Bond Claims in Utah”

By Willi Siepmann, Esq. and Kurt Faux, Esq. The Faux Law Group handles claims against contractor’s license bonds in the states of Nevada, California, Idaho, Wyoming and Utah, and it … Continue reading “They Are Claiming What? More Potential Pitfalls in Handling and Litigating Utah Contractor’s License Bond Claims”

By Kurt Faux & Willi Siepmann Among the most difficult contractor’s license bond claims to handle and evaluate in Nevada are the ones by union trust funds. These trust funds … Continue reading “Potential Issues and Pitfalls in Handling Union Trust Fund License Bond Claims in Nevada”

There is no statutory limitation provision specific to the CLB (Contractor License Bond) and the Utah Supreme Court has not addressed this issue. At least three statutes of limitation potentially … Continue reading “Statute of Limitations and the Utah Contractor License Bond”