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A Mechanic's Lien is a legal tool used within the construction industry. This claim is used by contractors, subcontractors or suppliers who have not been paid for work or materials provided on a construction project. The lien is attached to the property where the work or supply was carried out, and can impact the ability to sell or refinance the property until the debt is settled. Essentially, it's a security interest in the title of the property for the benefit of those who have supplied labor or materials that improve the property. The nature and rules of a Mechanic's Lien can vary by jurisdiction, but the overall concept is to provide a form of protection to those in the construction industry that have fulfilled their contractual obligations but have not received their due payment.

General Liability Insurance, particularly applicable to the construction industry, is a specific type of coverage that safeguards construction businesses against financial losses due to liability claims. These losses may arise from bodily injuries or property damages that occur on the construction site. It can also extend to cover slander, defamation or false advertising claims. Moreover, in the event of any such undesired incidents, the insurance policy is responsible for handling lawsuits and paying out the settlements. However, it's essential to note that general liability insurance doesn't cover damages due to professional errors or employee injuries; these would fall under professional liability insurance and workers' compensation, respectively.

Overhead, in the context of the construction industry, refers to the general, ongoing expenses associated with managing a construction company or project that cannot be directly linked to individual construction jobs or projects. These expenses can include administrative costs such as office rentals, utility costs, support staff salaries, and costs associated with legal compliance, insurance, and marketing. Overhead also includes costs associated with maintaining and repairing equipment, employee training, travel expenses, and team benefits. These costs are necessary for the business operation but do not contribute directly to a specific project’s profit. A proper understanding and efficient management of overhead costs are essential to maintaining business profitability and competitiveness.