Utah Account Stated for Construction Work
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How to fill out Account Stated For Construction Work?
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FAQ
A Utah preliminary notice must be filed within 20 days from the date the lien claimant first furnished labor and/or materials to the project.
Paying subcontractorsYou usually pay your subcontractors directly. But you can pay them through a third party (such as a relative or debt company) if they ask you to. If you make deductions, you must give the subcontractor a payment and deduction statement within 14 days of the end of each tax month.
Federal Laws The US Prompt Payment Act requires federal construction contracts to include a prompt payment clause. This requires the prime to pay subcontractors for satisfactory performance within seven days of receipt of payment.
It is fundamental under Utah law that when a party fails to perform a duty under a construction contract, such failure is a breach of the contract for which the non-breaching party may recover its damages.
Upon payment by an agency of the state of Utah or by an agency of the United States, a business which has acquired under contract, property or services in connection with its contract with such an agency from a subcontractor or supplier, shall pay such subcontractor or supplier within 30 days after payment from such
A direct payment clause says that if you have paid the main contractor for work done by subcontractors and your money is not passed on to them, you can pay the subcontractor directly and deduct the payment from any other monies due to the main contractor.
When the subcontractor does not get paid then they have grounds to pursue the contractor for monies owed. This could be in the form of wages or unpaid invoices for services rendered. In the USA, the owner of the property can be held liable for payment under a Mechanics Lien.
A lien claimant must file a Preliminary Notice (commonly called a pre-lien) with the SCR within 20 days of when the contractor began work. Failure to file a preliminary notice may preclude you from claiming a valid Preconstruction or Construction Lien. UCA § 38-1a-401 and -501.
The SCR is a centralized online resource for Utah construction projects. While the most cost-effective method is to perform transactions online, notices can be completed offline. Notices submitted by fax or postal mail become effective on the date a complete filing is received.
Statutory Limitations Unless you specifically spell out a different time period in a contract, Utah law permits contract and warranty claims to be filed within six years of the date of completion (or abandonment) of the improvement.