Colorado Bond or Lien Claim, Public Work
Bond or Lien Claim-Public Work
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Note: This information is limited in scope and applies only to this document. Please see the general information, all forms memo, and the general information memo for this type of document, for additional information.
Document Title: Notice of Claim on Bond and Lien for Public Improvement, and Statement of Amount Due.
Scope: State of Colorado, Public Works. Bonds are required on contracts over $50,000.00, optional under $50,000.
Time Constraints: Claims requirements depend on whether you are looking to the Public Entity or Bonding Company for payment. You can file claims against both.
Public Bond: Serve copies of the Notice of Claim on Bond and Lien for Public Improvement on sureties and public entities. Usually this should be done within 90 days of the last furnishing of labor, materials or equipment, but look to the bond for the actual time frame filing requirements. A Lis Pendens may be filed at the same time. File suit to enforce the bond claim within 6 months after completion or cessation of the project, or within 90 days of the final settlement as to unexpended funds.
Public Entity: Serve the copy of the Statement of Amount Due on the public entity at any time after the first furnishing (too early and you may anger your good customers). The public entity shall withhold sufficient funds from the contractors to ensure the payment of your claim. If not paid, you must file sure to enforce your claim within 90days of the final settlement or the claim will expire.
The usual remedy is to file to enforce all claims in one suit (see below, Procedures). In any case, we strongly recommend that yoru attorney handle the enforcement actions to perfect your lien claims.
Information Requirements: Program information and information for Exhibits A-D, any additional costs as to legal fees, court costs and interest charges (don't pass these up. Estimate if necessary. Public entities and sureties will reserve only for the amount you claim), and the county of the state where the recording will be made.
Form Types: Notice of Claim on Bond and Lien for Public Improvement, Statement of Amount Due and Exhibit's A-D, if needed.
Procedures: Prepare your documents using the required information. Serve the Notice of Claim on Bond and Lien for Public Improvement immediately on the public entities and sureties, and the Statement of Amount Due on the public entity.
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