Tag: Slow Payment
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These Three Tips Will Get Construction Companies Paid Faster
While there are many ways to combat slow or non-payment once it’s already affecting you on a project, wouldn’t it be better to just avoid it in the first place? Every construction participant wants their invoices prioritized, and wants to get paid on time and without hassle. This article provides a few top tips to…
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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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How Preliminary Notices Improve The Payment Process For Everyone
Unfortunately, too many preliminary notices go unsent, and too many sent preliminary notices get lost in the shuffle of paperwork. But for the business owners, office managers, and accounting professionals who’s job it is to make the payment process work, embracing the sending and receiving preliminary notices can go a long way to making your…
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Afraid To Do Business With That Contractor? This Can Help You Say Yes.
Prevailing business wisdom holds that the way to reduce credit risk is to limit credit lines, be stingy in extending credit to others, and freeze orders on past due accounts. However, by using the special financial tools available to them, companies in the construction industry are well positioned to increase business by accepting higher-risk accounts,…