Almost The End of the Road: Bonds and the Dangers of Non-Returnables: Landscape Design  -- Landscape Discussion Forum and Review Almost The End of the Road: Bonds and the Dangers of Non-Returnables: Landscape Design -- Landscape Discussion Forum

  parts   |   manuals   |   discussion   |   photos   |   podcast   |   reviews   |   specs   |   dealers   |   classifieds   |   contact   |   faq   |   myProfile   |   home          Login Now | Sign Up


FAQ:   What is a tractor?

Forum Index
New As Posted | Active Subjects



www.emerichsales.com - New & Used Equipment
          View Tractors For Sale!


www.partsbynet.com - Lawn and Garden Equipment Parts


Bernardsville Landscape Lighting
Click to Post a New Message!

Discussion Boards > Active Subjects > Messages as Posted > Landscape Design Forum

Page [ 1 ] |
Reply | Pop Up Window Reply | Add PhotoAdd Photo
 03-14-2001, 13:03 Post: 25504
Ted Kennedy



Join Date:
Location:
TractorPoint Premium Member -- 5 Tractors = Very Frequent Poster
Posts: 1

2
Filter by User
 Almost The End of the Road: Bonds and the Dangers of Non-Returnables

For everyone who thinks that they want to get into landscape design and landscaping, I have a warning. That is, never post bond for work with a state or municipality without doing some carefull investigation. I've just concluded the sale of my Case 580 Super L, my 10 ton Tag-Along, and both of my gear drive Cub Cadets. I also will not be renewing my dump truck lease. Why? Unknown to me, the city I posted $75K bond with, was in serious fiscal trouble, consequently, they are forcing all contractors to sue for return of their bonds. I had to let my help go. I was paid for my work, but they kept my bond, which had to be secured in order to do work. Seeing as money doesn't grow on trees. I had to come up with operating capital for the next year. My policy now is never to go for the big contracts again. I'm sure I'll get my money back (maybe even all of it), just not this year, and maybe not next year. Such is the way of business, fortunately, I still have enough assets to continue on. So for everyone with big plans, procede carefully.






Reply to PostReply | Quote Post Reply to PostQuote Reply | Add PhotoAdd Photo




Bookmarks: Digg It | Del.icio.us | Stumble This

 03-14-2001, 13:19 Post: 25505
Bird Senter

TP Contributor

Join Date: Jun 1999
Location:
TractorPoint Premium Member -- 5 Tractors = Very Frequent Poster
Posts: 962
 Almost The End of the Road: Bonds and the Dangers of Non-Returnables

Ted, I can certainly sympathize with you. I retired from big city employment, and all too often, I found that when the city required "bids" (supposedly to get the best price), the bids were much higher than an individual could simply walk in a place of business and purchase a product or service at full retail price. The reason? Most of the bidders knew how long it was going to take to get their money. And occasionally someone new came along and bid a reasonable price; only to learn the hard way. It was infuriating to me, and if I were a contractor, there's no way I'd bid on a government job unless I studied the contract VERY carefully, AND GOT PAID IN ADVANCE? Which ain't gonna happen, of course.






Reply to PostReply | Quote Post Reply to PostQuote Reply | Add PhotoAdd Photo




Bookmarks: Digg It | Del.icio.us | Stumble This

 03-14-2001, 14:15 Post: 25510
Rick Cosman



Join Date:
Location:
TractorPoint Premium Member -- 5 Tractors = Very Frequent Poster
Posts: 1
 Almost The End of the Road: Bonds and the Dangers of Non-Returnables

Ted, This is the kind of story no one likes to hear. I admire your courage in sharing it with us and hope it gives you some comfort to do so. I'm sure getting your bond released would probably be of more comfort.I'm no bonding expert, but would like to ask... Since you have been paid, the work has been completed, and a final certification must have been issued by the City. That being the case, could you not indemnify your bonding company, since they don't have exposure on a completed and passed job, then have them reissue the bond with your indemnification until the city issue is resolved? If you completed the job and were finaled and paid isn't it fraud to hold your bond? The city manager may have liability personally if he authorized it. Sometimes the buearocrats will move in the right direction if they think they might have to answer personally for thier actions. Just my thoughts...and good luck, Rick Cosman






Reply to PostReply | Quote Post Reply to PostQuote Reply | Add PhotoAdd Photo




Bookmarks: Digg It | Del.icio.us | Stumble This

 03-14-2001, 16:20 Post: 25513
Ted Kennedy



Join Date:
Location:
TractorPoint Premium Member -- 5 Tractors = Very Frequent Poster
Posts: 1

2
Filter by User
 Almost The End of the Road: Bonds and the Dangers of Non-Returnables

Rick, I will be paid, that is the key that keeps the insurance from paying out. When, is the question. The courts in my state allow municipal governments wide latitude in payouts if they can prove to the court that to do so will adversely affect the residents. My attorney, and those representing the thirty other contractors don't want us to muddy the waters with discussion so I'll have to leave things as they are. Thanks for the interest, good thing I still have my day job.






Reply to PostReply | Quote Post Reply to PostQuote Reply | Add PhotoAdd Photo




Bookmarks: Digg It | Del.icio.us | Stumble This

 03-14-2001, 16:54 Post: 25515
Rob Wheeler



Join Date:
Location:
TractorPoint Premium Member -- 5 Tractors = Very Frequent Poster
Posts: 1
 Almost The End of the Road: Bonds and the Dangers of Non-Returnables

I'm sorry to hear about your circumstances, Ted.

Is this part of the mess in Waterbury?






Reply to PostReply | Quote Post Reply to PostQuote Reply | Add PhotoAdd Photo




Bookmarks: Digg It | Del.icio.us | Stumble This

 03-15-2001, 09:02 Post: 25538
Murf

TP Contributor

View my Photos

View my Photos  Pics
Join Date: Dec 1999
Location: Toronto Area, Ontario, Canada
TractorPoint Premium Member -- 5 Tractors = Very Frequent Poster
Posts: 7020
 Almost The End of the Road: Bonds and the Dangers of Non-Returnables

Ted, I can sympathize whole-heartedly, I too have had my share of grey-hair producing jobs. Probably most notable was the golf course owner, unknown to me, borrowed against MY equipment to obtain operating capital to finish the construction. It seems there is no 'register' for recording the ownership of such unlicensed equipment. He merely told his lender that he had PURCHASED it all from me, the lender registered liens against it to protect his 'loan'. When I found out the lender refused to release his security interest and further told me that I could not remove the equipment from that site. Luckily the nightwatchman was hired by the contractors on the job. It seems that he got sick in the middle of his shift one clear night and somebody took all the equipment away..... A police report and dealer records quickly convinced the lender and owner to work out an 'arrangement'. But, I have also had disgruntled customers merely refuse access to the site in order to green-mail a better price after a job was finished. Ted, your words should burn in the ears of all 'serious amateurs' who would like to make a little money with their equipment. Best of luck.






Reply to PostReply | Quote Post Reply to PostQuote Reply | Add PhotoAdd Photo




Bookmarks: Digg It | Del.icio.us | Stumble This

Reply | Pop Up Window Reply | Add PhotoAdd Photo


Page [ 1 ] |

Discussion Boards > Active Subjects > Messages as Posted > Landscape Design Forum

Thread 25504 Filter by Poster:
Bird Senter 1 | Murf 1 | Rick Cosman 1 | Rob Wheeler 1 | Ted Kennedy 2 |




Most Viewed

+ How to estimate the weight of boulders?
+ bridge for Island
+ ditch retaining wall construction
+ fencing
+ Need advice on building a privacy barrier w/ dwarf
+ Mulch Of Choice?
+ Retaining wall backfill, step building questions
+ Rope Fence for Pool Yard Entrance
+ Is My Retaining Wall Level?
+ Short Moss Rock Retaining Walls

Most Discussion

+ bridge for Island
+ Mulch Of Choice?
+ Need advice on building a priv
+ What can I put along the found
+ Terracing my property
+ fencing
+ ditch retaining wall construct
+ Working around retaining wall
+ Is My Retaining Wall Level?
+ Privacy fences

Newest Topics

+ Lawn renovation
+ POSTED SIGNS
+ fencing
+ Post hole digging
+ Retaining wall backfill, step building questions
+ Retaining wall drainage
+ Anyone use Turfgrid?
+ Working around retaining wall obstruction
+ Rope Fence for Pool Yard Entrance
+ Plastic white fence













Turbochargers for Tractors and Industrial Machines
Cab Glass for Tractors and Industrial Machines

Alternators for Tractors and Industrial Machines
Radiators for Tractors and Industrial Machines

Driveline Components for Tractors and Industrial Machines
Starter Motors for Tractors and Industrial Machines