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This article discusses retainage “best practices” which can help your company with the negotiation process, describe key features of retainage laws across the country and explain how to use them....
Recently we have been examining collection policy in the context of a company’s overall credit management scheme. Having a written lien policy with a set and strictly followed procedure is important...
I recently wrote an article about the friction between sales and credit departments: Credit Departments v. Sales Departments: How Everyone Can Get Along. While the two departments are naturally at...
In every industry there is a need for collections. Most companies that I see from day-to-day are completely reactive in the collections approach. This is the company who waits to...
I recently discussed the preliminary notice requirements as set forth in Indiana lien law. In that post, I mentioned that all parties not in direct contractual relation with the property owner...
Winning new clients is essential to any construction business, but it doesn’t make a difference if you can’t collect payment from them. Contractors need to perform both of these tasks...
Electrical Marketing’s LiveWire, citing the Fargo-Moorhead Inforum blog, reported yesterday that three North Dakota Indian tribes plan to start construction of a $400 million refinery near Makoti, N.D. You probably already...
I’ve mentioned that a collection policy is an important part of a company’s overall credit management scheme. And, that a good collection policy, coupled with a thorough lien policy, may enable...
The word “retainage” can strike fear into the heart of anyone in the construction industry. The tool is a necessary evil, but it is often abused and almost always the...
When you’re running a small business, you know one thing: relationships are key. Your customers are what fuel your business and you really can’t afford to lose even just one....
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