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May 12, 2016

Contractors, here's how a ‘notice to lender' is used to get paid on private construction jobs

  • The notice to lender comes into play long before any lien or bond claims are filed.
    • By TERRY R. MARSTON
    Marston Legal PLLC

    A “notice to lender” under Washington law is a supplemental method for contractors to secure their rights to payment for work performed on private construction projects.

    Submitting a timely notice to lender is the only way to ensure the validity of a contractor's lien until the value of work in place substantially exceeds the value of the lender's deed of trust securing repayment of its construction loan.


     
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