On Fridays, we select a few articles from the week that we think are worth your time as a construction financial manager (CFM). We look for compelling articles not only about financial topics, but about business, technology, and life, that challenges you to think about your role as a CFM in different ways. We’d love to hear from you about how we’re doing, and to have you join our community by subscribing to receive this weekly post by email. Follow #CFMReview.
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Exchange Lien Waivers Online for Free
We are going to do a little bit of self promotion right here because zlien has hit a major milestone and we are very proud of our recent accomplishment. We just raised $1.3 million to tackle the exchange of lien waivers in the construction industry. Our newly released Waiver Exchange tool enables everyone in the construction industry to easily and electronically sign, exchange, and collaborate on lien waivers for free.
This tool can be used by everyone from property owners and lenders to general contractors and subcontractors to material suppliers and equipment renters. Whether you are requesting a lien waiver or signing one, zlien is here to make it easy, fast, and secure.
The zlien team has worked hard on the Waiver Exchange, and we are very excited to share this product with you. To check it out and try it for yourself, visit www.waiverexchange.com.
Click here to read the full press release.
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Waive Lien Rights and Get Paid
Wondering why you should care about the Waiver Exchange tool described above? This article explains how waiving lien rights can benefit contractors and other construction parties awaiting payment.
“Mechanics liens are powerful tools, for many reasons. Ironically, one of the most effective ‘uses’ of your mechanics lien rights is not using them. Waiving your right to file a lien may be the fastest way to get paid.”
Check out the article to learn more about the benefits of exchanging lien waivers, but if you want to start with a more basic overview of lien waivers and how they work, click here.
Read “How to Get Paid by Waiving Your Lien Rights” on Multibriefs
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Use the Internet to Improve Procurement Practices
The internet has infiltrated most aspects of modern life – we use it for almost everything. So why not use the internet to help with “one of the most complicated, tedious, time-consuming tasks in construction”: research and procurement. Construction Business Owner lays out the steps to help contractors save time and money.
These tips can make a huge difference in your processes – learn how to sift through extraneous and irrelevant information and hone in on what can really make a difference for your business. Anyone can type a question into the Google search bar, but having techniques and strategies can help you find what you’re looking for faster and more efficiently.
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