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Construction Contractors Beware the Consequences of Consequential Damages

Jimerson Firm

Consequential damages for breach of a construction contract are a significant risk that contractors need to understand and be aware of in connection with construction projects. 2] Typical examples of consequential damages include lost profits, lost rents, loss of use, damage to reputation, and interest and finance charges.

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Florida Construction Lien and Bond Law: Changes are on the Horizon

Jimerson Firm

Florida construction lien and bond law is an ever-evolving statutory creature. Chapter 713 (pertaining to construction liens) and Chapter 255 (pertaining to public project bonds) of the Florida Statues should be reviewed regularly. Definition of “finance charge” – Florida Statute 713.01

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The Top Five Things Lenders Need to Know About Florida’s Construction Lien Law

Jimerson Firm

Florida’s Construction Lien Law found in Chapter 713, Florida Statutes, may seem like an area of the law that is only relevant to contractors and property owners. However, there are important aspects of the Construction Lien Law that can directly affect the rights and obligations of lenders in numerous ways. Specifically, under Fla.

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10% rise in Business Insolvencies predicted by Experts

UK debt collections

Sectors such as retail, manufacturing, construction, and real estate are particularly vulnerable due to weaker demand and higher borrowing costs. Financing and liquidity conditions are still tight. This is compared to 14% in France, 9% in Italy, and 7% in Germany.

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Construction and Real Estate E-Note August 2021

Burr Forman

Mike Rich joins Burr & Forman’s Mobile, Alabama office as Counsel in the firm’s Construction and Project Development practice group. Her practice will focus on representation of lenders in various financing transactions, including commercial real estate loans. Jon may be reached at (843) 785-2171 or jeggert@burr.com.

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More Businesses closing than opening says latest statistics

UK debt collections

The analysis shows that the number of businesses closing in the construction sector climbed by 41% whilst opening had dropped 8%, while in the retail sector , closures were up by almost 30%, the highest in at least six years. The sectors that saw the largest reductions were retail, construction , real estate and courier services.

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Business CCJ’s double whilst firms in significant distress soars

UK debt collections

Interest rate hikes look set to continue into Q2 2023 placing further strain on the finances of both businesses and consumers. This, combined with a far less generous business energy support scheme and legacy COVID debts , do not bode well for many SMEs, and I fear that failure rates will continue to rise well into 2024.”