Tag: Lien and Notice Policy
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How Small & Medium Construction Businesses Can Reduce Payment Risk
Ever wondered how to get paid faster on a particular job or how bad debt could be significantly reduced and even avoided entirely? Over the past 10 years, we have spoken to literally thousands of people in the construction business, folks just like you. From that wealth of experience, we’d like to share a few…
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6 Metrics to Track Your Mechanics Lien Policy
If you aren’t keeping track of metrics, then it’s impossible to know if you’re improving. Far too often, credit departments send notices and file liens without structure around measuring whether or not the notices are working. Think, for example, about a company that spends $3,000 per month on protecting lien rights (that’s a $36,000 annual…
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How A/R and a Lien Policy Work Together
A thorough Lien Policy can form the backbone of a strategic A/R collection plan. Implementing a lien policy can reinvent a company’s receivables, which leads to less bad debt and fewer write-offs. Getting Paid in the Construction Industry Is Tough Getting Paid in construction industry is harder than in most other industries. There are many reasons for this…
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Lien Policy: Best Practices and Overview
Lien Strategy Before getting into the ins and outs of lien strategy, it’s important to note that filing a lien is only one step in the process of lien rights management, and lien rights management is just one aspect of credit management and receivables policy for construction companies. The zlien methodology: Protect, Monitor, Warn, Secure,…
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Original Contractor Doesn’t Mean General Contractor for Missouri Notice Requirements
Mechanics lien and notice requirements can be difficult to figure out even in the best of circumstances. When additional confusion is thrown into the mix, like confusion over precise definitions of project roles, it can be even tougher. A recent Missouri case provides some clarification on the definition of terms related to project roles…