Risk Management Questions

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Risk Management
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We are exploring whether we should be filing UCC liens on our subcontractor's that also provide materials? Is there a threshold that is required or a ratio of a subcontract of material vs labor?...Read More
Sarah Amick
1 answerAdd commentJul 22, 2021
WashingtonRisk ManagementCustomer Relationships
Working to get contract signed as prime contractor for a dredging project for a privately owned marina. Have some concerns about payment on project completion. ...Read More
John Shaw
1 answerAdd commentJul 27, 2021
CaliforniaRisk Management
My credit department is turning down more clients than I would like and my sales team doesn’t seem to take our credit policies to heart. This tells me I need to make changes somewhere, but I have no clue what needs to change. What can I do to strike the perfect balance between taking on a ton of new clients and only taking on risk-free clients?...Read More
Dan Glover
2 answersAdd commentJan 25, 2021
Credit ProcessesRisk Management
Our sales department has expressed interest in teaming with subcontractors to bid on projects and work on them together if we win the bid. Is there any financial risk when doing this? What if the subcontractor pulls out of the teaming agreement and we need to find someone else?...Read More
Anna Lopez
1 answerAdd commentJan 25, 2021
Credit ProcessesRisk Management
Me and my friend just started a small carpentry company, and I’m learning the ins and outs of credit management at a construction company. I’m curious about preliminary notices. Do they provide any benefits outside of preserving my lien rights?...Read More
Roland Stephens
2 answersAdd commentJan 25, 2021
Credit ProcessesRisk Management
I work for a material supplier in upstate New York. I believe that in New York, pre-requirements to file a mechanic's lien are few, i.e. no advance notice is necessary to be furnished either to our direct customers (often contractors or sub-contractors on jobs) or to the property owner. However, we sometimes find ourselves wishing that we'd done something in advance of filing the lien to be a tad more proactive and let the owner or general contractor know that payments are not being received in a timely manner and that we may file a lien to facilitate payment. Is there a commonly used threshold (order dollar amount-wise) that companies use to decide whether to give notice to owners or GCs either at the time of initial order or when payments become delinquent? ...Read More
1 answerAdd commentFeb 12, 2021
Risk ManagementCustomer Relationships
Needing a copy of the bond claim...Read More
Annette J
1 answerAdd commentFeb 12, 2021
Risk Management
I am a subcontractor working on a small commercial project. We have done the job and have not received the payment. The client is not answering the phone calls....Read More
Jimenez Demolition
1 answerAdd commentFeb 20, 2021
Risk Management
payment on repairs to truck, customer wont pau truck has been on my property for 26 months...Read More
steve zeitler
1 answerAdd commentFeb 21, 2021
Risk Management
I'm a mechanic, can I file a mechanics lien on a vehicle i did work on? new transmission, transfer case? Parts and labor total $5896.34. I still have possession of the vehicle and no down payment total due is $5896.34? would i file a general lien with the county or do i need a notice to lien before i file? I can not find anything on line other than construction lien information? I'm in Colorado, your tab for state will not open...Read More
Nicholas Mauth
1 answerAdd commentFeb 25, 2021
Risk Management
Okay experts lets see who got the answer to this question. I have an invoice for the amount of $60,950 dated 11/25/2020. The conditional waiver pertaining to that invoice is also dated 11/25/2020 with the same amount. So far, the client has issued 3 payments of $10k, $15k, and $25K and they are asking for unconditionals for those amounts paid. Given that the invoice has an outstanding balance of $10,950 as of now, How do i correctly provide unconditionals for the amount received so far? I was thinking that i would provide an unconditional for the amount of $50k dated 11/25/2020, but i would include and outstanding balance of $10,950 in the "exceptions" area. What do you experts think?...Read More
omid Eslamloo
2 answersAdd commentMar 3, 2021
Risk Management
We have sent an intent to lien and the owners of the Starbucks property, Vaquero Ventures, has sent us a Conditional Waiver and Release on Progress Payment. Should we sign this and send back to them? This is their email: My name is Ryan Blankers. I work with Vaquero Ventures who is the property owner for the Starbucks project y’all worked on at 11709 Memorial Parkway Huntsville Alabama. It has come to my attention that the General Contractor, Cloud CM LLC, has not paid some of you for the work that you have completed. I am working to get this resolved ASAP. In order to assist me, can you please provide the following items? Your original Proposal for the project Any Change Orders you have issued throughout the duration of the project. Payment applications you have submitted to Cloud CM LLC. Final Invoice of any outstanding payments Fill out the attached Conditional Lien Waiver Fill out the attached W9. Thank you for your work on this project and I look forward to receiving the above information so we can get this thing wrapped up....Read More
Lori Broom
1 answerAdd commentMar 23, 2021
Risk Management
I was contracted in and not paid for the four weeks that I have worked....Read More
Emory Cox
1 answerAdd commentMar 25, 2021
Credit ProcessesRisk ManagementCustomer RelationshipsProfessional Development
As a GC if we have a subcontractor come out to do minor warranty work after completion of the project, for which we are paying, does that subcontractor have lien rights? Do I need to get an unconditional lien waiver from that subcontractor upon his or her receipt of payment? ...Read More
Chris Heath
1 answerAdd commentMar 25, 2021
Risk Management