The preliminary notice is one of the most potent weapons in a credit manager’s arsenal. It’s fairly common for credit managers to send these documents on projects in states like...
Your company’s credit department likely uses a variety of different tools and software packages to operate. Unfortunately for building material suppliers, equipment rental companies, and others in the construction industry,...
Credit policies are critical documents for nearly every organization, but especially for those B2B businesses who manage trade credit. Nearly every construction industry business is in this position, as construction...
Every day, credit professionals are challenged to handle sensitive financial situations for businesses. They are trusted to analyze complex situations and to make an educated judgment about how to financially interact with...
We have a secret about making demands for payment … the usual way is not always the effective way. Getting paid in the construction industry can be complicated and frustrating....
In the world of news and content, it has become a late-December tradition to publish articles reviewing trends and news from the past year. We follow that great tradition here,...
At some point, a customer to whom credit has been extended will not pay on time. With all of the security and other policies and procedures in place to get...
I recently (again) wrote about the importance of a solid preliminary notice policy in preserving the lien rights, and therefore the security, of companies in the construction industry. But, what...
Once the credit worthiness of the customer has been determined on a general scale, the specific credit limit must be set for each individual customer. Clearly, many factors may be...
As I’ve mentioned many times before, securing extensions of credit should be one of the foundational components of any successful credit policy, at least for companies in the construction industry.[quote...