A direct contract is terminated under s. 713.07(4) on June 1, and a subcontractor’s final furnishing was May 20. When does its recording period close?
Correct Answer
C) 90 days after final furnishing or 90 days after termination, whichever occurs first
Section 713.08(5) adds a second clock when the direct contract ends early: "if the original contract is terminated under s. 713.07(4), a claim for a lien attaching prior to such termination may not be recorded after 90 days following the date of such termination or 90 days after the final furnishing of labor, services, or materials by the lienor, whichever occurs first." Here final furnishing on May 20 closes first, on August 18.
Why This Is the Correct Answer
Section 713.08(5) adds a second clock when the direct contract ends early: "if the original contract is terminated under s. 713.07(4), a claim for a lien attaching prior to such termination may not be recorded after 90 days following the date of such termination or 90 days after the final furnishing of labor, services, or materials by the lienor, whichever occurs first." Here final furnishing on May 20 closes first, on August 18.
More Business & Finance Questions
The Cedar Key subcontract closeout file requires 44 final releases, and 31 have been received. How many releases are missing?
A Florida GC prepaid $18,000 for annual insurance and expenses it evenly by month. After 7 months have expired, what prepaid asset remains?
The West Miami system access list starts with 22 active users, adds 4, and removes 7. How many active users should remain?
The Winter Park bank review shows a bank balance of $124,600, book balance of $119,400, and known timing items of $3,200. What unexplained difference remains?
The Riverview bank review shows a bank balance of $87,500, book balance of $90,400, and known timing items of $1,600. What unexplained difference remains?
A Satellite Beach contractor had 4 separations during the quarter and an average headcount of 32. What turnover rate should HR report?
A Winter Park startup budgets monthly overhead of $61,500 and wants a 4-month operating reserve. What reserve should be funded?
A Royal Palm Beach customer account has unpaid approved invoices of $126,000. Company policy requires review when unpaid invoices exceed $100,000. What status applies?
A Wildwood contractor had 9 separations during the quarter and an average headcount of 60. What turnover rate should HR report?
A Clermont field group had 64 absence hours out of 1280 scheduled hours. What absence rate should be reported?
People Also Study
Related Study Resources
Previous Question
In the St. Augustine accounting file, average receivables are $320,000 and annual credit sales are $3,650,000. Using a 365-day year, what days sales outstanding should be reported?
Next Question
Before awarding a Aventura subcontract, the file shows limited financial capacity. Which prequalification step should be completed?