Tag: Stakeholder Visibility
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I Just Received a Notice of Intent to Lien – What Should I Do Now?
It pays to look at what a notice of intent actually is, though. A notice of intent is just that – a statement that a lien may be filed, not that one has been filed. This means that when you receive a notice of intent, there is still the possibility to avoid the lien entirely.…
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Why Does it Take So Long to Get Paid in Construction? And What Can I Do About It?
The fact that the construction industry has a payment problem comes as no surprise to industry participants. In fact, it takes longer to get paid in the construction business than it does in just about any other industry. First of all, a company has to complete time- and information-intensive pay apps just to get in…
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The Top 5 Reasons You Should Love to Receive Preliminary Notices
It’s a well-known fact that payment in the construction industry can be slower than desired for many reasons, and one way that parties attempt to mitigate payment risk is through providing preliminary notices. While a preliminary notice can be a prerequisite for preserving a company’s lien rights on a project, this is not necessarily the…
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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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Why It’s a Bad Idea to Send Preliminary Notices on “Problem Jobs” Only
Whenever a construction company tells us that they only send notices ‘on problem jobs,’ we’re immediately prompted to follow up with: “if you only send notices on ‘problem jobs,’ how do you know which ones are problem jobs, and which are not?” Not surprisingly, what we’ve found in our experience is that everyone defines ‘problem…