Payment Remedies

摘要

An unpaid party in a business transaction is generally limited to proceeding against the other party in court for breach of contract. If the debtor is insolvent, the possibility exists that little or nothing will ultimately be recovered. In order to encourage parties to participate in construction and government projects, special statutes have been enacted providing additional sources of payment for such projects. In Colorado, these remedies are mechanic's liens for private projects, as well as verified claims and payment bond claims for government projects.