Ransomware Events and Wire Transfer Fraud Parziale notes that two major forms of cyber risk the construction industry faces are ransomware events and wire transfer fraud.
The time for filing an Affidavit of Nonpayment is extended from 60 to 90 days after signing the lien waiver. The statutory forms for lien waivers and for Affidavits of Nonpayment have changed. Click here for copies of the updated forms. To avoid confusion that may arise from projects that are ongoing before and after January 1, please follow these steps: Until January 1, 2021, continue to follow the current law and to use the current statutory forms for lien waivers and Affidavits of Nonpayment. Beginning January 1, 2021, use the new statutory forms for all projects, including those that began before January 1. Beginning January 1, 2021, if you need to contest a lien waiver that was signed on the pre-2021 form, we recommend a hybrid approach. File an Affidavit of Nonpayment within 60-days rather than the new 90-day period, using the new Affidavit of Nonpayment form that is effective January 1, 2021
NASBP offers a variety of forms for different purposes. Some forms were created by NASBP and its membership, others are offered by industry partners
Infrastructure Investment & Surety Bond Assurances #Legislation #Federal #Issues #Advocacy #IssueBriefs #Advocacy
PositionBrief1-1.pdf
Sometimes this might happen because the parent entities regularly do business and forms are recycled, or maybe a proposal was signed before the correct entity’s formation and that prior name was inadvertently transferred onto the final contract
For example, if the borrower is using a 24-week Covered Period and received PPP loan proceeds on May 1, 2020, the first day of the Covered Period is May 1, 2020, and the last day of the Covered Period is October 16, 2020