Federal projects are protected through The Miller Act.
The Miller Act requires a contractor on a federal project
to post two bonds: A Performance Bond and a Labor and Material
Payment Bond. The surety company issuing these bonds must
be listed as a qualified surety on the Treasury List, which
the U.S. Department of the Treasury issues each year. This
list is also known as the Circular 570. List of approved
sureties: http://www.fms.treas.gov/c570/
Field Order
A written order issued by an architect during contact performance effecting a minor change in the work not involving an adjustment to the contract sum or contract time.
First Furnishing
The first day labor or material arrives at the job site.
Foreclosure
The forced sale of real estate to pay off a loan or
debt on which the owner of the property has defaulted.
Full Price
Lien States
Lien rights are not limited to unpaid funds between the
owner and prime contractor. By timely and accurately serving
a notice to owner and timely and accurately filing a mechanic’s
lien the owner is subject to double jeopardy (paying twice).