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Lien Best Practice

4 Ways Subcontractors Can Get Paid Using the zlien Methodology

Managing receivables in the construction industry is tough, especially without a succinct process to guide your actions. This becomes ever more complicated if your company is using its mechanics lien rights to control overdue receivables. The nuanced laws and complex timelines make process and policy a necessity to manage when to send notice and when […]

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Sending Preliminary Notice Late May Still Provide A Benefit

It’s no secret that managing preliminary notice deadlines, and sending preliminary notices within those deadlines, is a crucial aspect of lien policy and sound credit management for parties in the construction industry. In fact, the ability to track deadlines and determine when preliminary notices must be sent is one of the main factors that companies […]

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Create and Use A Payment Funnel to Reinvent Your Receivables

It’s no secret that getting paid in the construction industry can be difficult. Obstacles to payment seem to spring up constantly: pay when paid provisions, bankruptcy, joint check agreements, workmanship disputes, and more all cause hassles when companies attempt to get paid for the work they’ve done. The cost of this payment problem is severe. In both a cause […]

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The Material Supplier Finance Professional’s Year-End Checklist

As the end of the year rapidly approaches, it’s time for companies to take stock of their receivables, reevaluate (or create) their credit policy, analyze their average DSO, grade their collection efforts, and vow to get paid more often and write-off less bad debt in 2014. While those goals all sound good on paper, actually […]

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Corporate Culture and Notice Policy

Notice Policy — Is It Worth It? It’s no secret that compliance with notice requirements, especially when projects are located throughout many different states, is a difficult, time-consuming, and frustrating task. With deadlines changing state-by-state, project-by-project, and role-by-role, it can be nearly impossible to keep a firm grasp on the applicable requirements. When combined with […]

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6 Days to Becoming a zlien Pro – Day 2: Setting Up Your Collections Funnel

In yesterday’s lesson, you learned what a lien is and how it works, right?  Today, we are going to discuss how to create your company’s own lien policy that should work for projects in every state, every time. Why make my your own lien policy? Cash is the lifeblood of every business, and the best […]

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Credit Policy: Preliminary Notice Policy

As I’ve mentioned many times before, securing extensions of credit should be one of the foundational components of any successful credit policy, at least for companies in the construction industry. A main reason for this is that the factors considered before extending credit all boil down to risk assessment — how likely it is that […]

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Mechanics Lien Compliance: Who Can You Trust?

Mechanics lien compliance should be a priority for any credit professional in the construction or distributing space. Many companies spend a healthy heap of money sending preliminary notices and protecting their lien rights, but they so rarely dedicate resources to making sure that the compliance work they are doing…is right.  If there is an universal […]

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Credit Management: Are Credit Checks Mandatory If Lien Policy Is Strong?

In my opinion, security is an important part of a credit policy and I often wonder why it is not more fully utilized when available. To this end, I have written about the importance of businesses in the construction industry incorporating a robust lien and notice policy into their overarching credit policy on numerous occasions. […]

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Notice Of Intent To Lien: Great Tool For Getting Paid!

A great tool that I always reference on the Zlien website is the Charts & White Papers page. There are a number of helpful resources on this page. Today I will discuss the map regarding the summary of construction notice requirements. In particular, this map indicates states where a Notice of Intent to Lien is […]

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Credit Management: Lien Policy or Other Security Can Help Collection Policy

Recently we have been examining collection policy in the context of a company’s overall credit management scheme. Having a written lien policy with a set and strictly followed procedure is important not only to recover the money owed to the business, but also for the sake of efficiency. If the proper steps to be taken, and […]

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