Like any industry that relies heavily on extending credit to get business done, construction can be risky. Unless you’re in the 0.0001% of subcontractors who get paid up front and...
For contractors, a good credit management policy goes a long way to reducing the risk of non-payment. It should set guidelines for extending credit, and include a well-written collections policy...
Where is all my cash? You might have asked yourself this question before. Many contractors find themselves being profitable but still stuck with negative cash flow. Why is that? You...
We’ve written on this blog many times about the importance of documentation in the construction industry. But how long should you hold on to these records? And why? Implementing a...
As a Minnesota lien claimant navigated the notice requirements for establishing a lien, the property owner felt harassed. On appeal, the court found that following the necessary procedure to file...
Are you thinking about making lien waivers and preliminary notices easier and faster? We are frequently contacted by office managers and credit managers looking to replace their Lien Writer™ software...
We commonly get contacted by office managers and credit managers looking to replace their Lien Writer™ software with something more modern and reliable. Managing preliminary notice and lien waiver documents...
Construction may seem like a sleepy industry, but the construction landscape has been rapidly changing with the adoption of new technology. From credit management, to handling lien waivers, all the way...
Credit teams in the construction industry constantly battle late payments. In particular, subcontractors and suppliers performing labor or supplying materials to help permanently improve a property are farther removed from the...
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...