What Is A Discharge Of Mechanic’s Lien Bond?

what is a discharge of mechanics lien bond

Mechanic’s liens are issues in favor of builders, contractors, subcontractors, or supplies who have furnished labor or materials for construction or improvement of a property.

If builders, contractors, and suppliers have not been paid, they can file a mechanic’s lien on the property as a method to ensure they get paid for their services and materials. 

A mechanic’s lien attaches to the land and building. When a mechanic’s lien is issued, the property owner cannot do anything with the land or property.

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Financial guarantee bonds and ice cream [What they have in common]

financial guarantee bond

What Do Financial Guarantee Bonds Have To Do With Ice Cream?

Flavors. The common theme is flavors.

Just as the number, scope, and use of ice cream flavors has dramatically broadened over time, the number, scope, and use of surety bonds and financial guarantees has also broadened.

What Is A Financial Guarantee Bond?

The term financial guarantee bond is an umbrella term that means “the guarantee of payment or payments on a financial obligation.” Or at least this is what the term meant in the 1970’s – just like there was only vanilla ice cream at one point in time.

Since the 1970’s, the term financial guarantee bond  has taken on new meaning due to a demand for bonds that arose during investment transactions.

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How To Get A Car Dealer License In Pennsylvania

pennsylvania car dealer license

Generally, you must get a Pennsylvania dealer license if you wish to sell 5 or more vehicles in one calendar year. If you are selling less than 5 vehicles a year, those vehicles must be titled in your name, owned by you, and used primarily for personal, business, or household use.

Not sure if you need to get a dealer license? Check out this post on selling cars without a license.

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Maryland Title Service Agent – Getting Licensed & Bonded

maryland title service agent

The Maryland Motor Vehicle Administration issues licenses to become a Title Service Agent. If you are looking to become a Title Service Agent, or just want additional information, keep reading.

What is a Title Service Agent?

A title service agent, also known as an auto tag distributor, is an individual or company that can process auto procedures such as renewing license plate tags, distributing motor vehicle registrations, and more.

While these tasks are usually performed by an employee of a state’s Department of Motor Vehicles, some states (like Maryland and Wisconsin) allow independent retail agents to perform the basic auto duties like the ones mentioned above. To become a title service agent in Maryland, you must first get licensed.

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How To Get A Utah Contractors License In 7 Steps

utah contractor license

All individuals or businesses who wish to engage in construction work in Utah must secure a Utah Contractor’s License. To do this, at least 1 individual must be selected to act as the license qualifier, which requires that person to pass the necessary license exams.

To get a Utah General Contractor’s License, you will need to complete an application, pass the necessary exams, register your business, secure insurance and a Utah Contractor’s Bond, and complete other required documents/processes.

The exact steps to get a Utah Contractor’s License are listed below.  For questions or other information by phone, call 801-530-6628. For questions or other information online, visit the Utah Division of Occupational and Professional License Utah Contractor License page. 

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What Is A Mortgage Bond?

what is a mortgage bond

What is a Mortgage Bond?

A mortgage bond, in regards to surety, is a type of license and permit surety bond required by a state agency for licensure pertaining to mortgage activities. 

This is not to be confused with mortgage bonds that are also known as mortgage-backed security bonds.

There are a number of different types of mortgage bonds for surety which vary based on state statutes. 

Some states only have one license type and therefore only have a single bond. Other states have very detailed license types and, therefore, have multiple bonds.  The SAFE Mortgage Licensing Act of 2008 has created minimum standards that every state has adopted.

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