Tag: Late Payment
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How To Deal With Excuses When Trying To Collect Your Construction Debt
The phrase “the check is in the mail” has become a legend in the debt collection industry, as well as a rallying cry to describe the frustrations one experiences when trying to collect a debt. The frustration isn’t exclusive to debt collectors, however. Office managers and accounts receivable managers in the construction business know this…
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5 Things You Can Do TODAY to Put an End to Your Construction Payment Problems
When you’re in the construction business, getting paid can be tough a tough task. How often do you send out past-due invoices to your customers? What about demand letters? Have you ever had to hire an attorney to resolve a payment issue, only to end up spending more in legal fees than the uncollected payment itself? And…
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Help Your Boss Understand Why You Need to File a Mechanics Lien
If your boss wants to sign off on a lien claim before you file it then you’re not alone – it’s very common for the folks in the construction industry that are responsible for getting money in the door to need approval from management and/or ownership before moving forward with a mechanics lien. Mechanics liens…
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What You Need to Know About The Miller Act
If you’re working on a federal construction project, understanding the “Miller Act” can be pretty important. In fact, you may have heard of this before. People sometimes refer to “Miller Act Bonds,” or “Miller Act Claims,” or even “Miller Act Projects.” See our free Miller Act charts and frequently asked questions. As this post…
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Thinking About A Mechanics Lien Process? 3 Reasons It Could Be A Good Idea
As someone working to get money in the door at a construction company, it will come at no surprise that payments come slowly. Very slowly. In fact, according to a PWC study of payment speeds across all industries, the construction industry ranked as the absolute slowest. On average, it takes a contractor 73 days to get paid…