Search results for: “common mistakes”
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5 Mistakes You Can’t Afford to Make with Texas Notices and Liens
If you’re tasked with collecting payment for construction work, you need to be taking advantage of mechanics liens. The problem is that lien and notice management is nuanced, confusing, and bureaucratic, especially in Texas. Navigating the prerequisites to protect your lien rights is confusing, and small mistakes (with large consequences) happen quite often. Below I’ll outline 5 common mistakes that people make…
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Construction Accounts Receivable: Don’t Make These Tragic Mistakes
On the surface, extending credit to customers seems like a no-brainer; it’s an incredible way to attract and retain customers and build long-term, profitable relationships – but there are significant risks involved too. Extending credit is easy, but collecting on invoices is a very real threat to profitability, especially in the construction industry where invoicing…
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Bond Claim Mistakes to Avoid
Bonds, at least as related to construction projects, can be divided into three primary types: bid bonds, performance bonds, and payment bonds. This article will discuss payment bonds, and mistakes to avoid in making or defending a payment bond claim. First, though, what is a payment bond? In general terms, a payment bond is a surety…
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3 Lien Waiver Mistakes That Can Burn Your Company
Getting paid on a construction project frequently requires you to execute a lien waiver, and for this reason, thousands and thousands of lien waivers are executed by companies across the country everyday. Unfortunately, however, the routine nature of these documents make them susceptible to mistake. This article explores the 3 lien waiver mistakes that can…
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Most Dangerous Joint Check Agreement Mistakes Revealed
This past Wednesday, Nate & I co-hosted a very successful Webinar: The Joint Check Agreement Mistakes That Can Cost You Thousands. It was very successful, and we had a great discussion about problems you may encounter when dealing with these popular instruments. The slides from the presentation are available on our SlideShare account and viewable…