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3 Steps To Improve Your Bottom Line

At the start of a new year, many companies in the construction industry have made resolutions to increase profits and/or decrease bad debt. This seems like an obvious goal, but year after year after year businesses make the same resolutions and then fail to take concrete action to make changes, and the cycle continues. For […]

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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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Alabama Does Require Preliminary Notices — And Strict Compliance Required

The Alabama Court of Appeals addressed the state’s preliminary notice requirements in an October 2013 decision, Gunther v. Carpet Systems of Huntsville, Inc. The case isn’t significant for any change in the law, but it is noteworthy in that the appeals court discussed the state’s preliminary notice requirement at length.  The decision makes clear that […]

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Texas Lien Notices: Must They Be Signed?

The Texas mechanics lien and construction notice laws are unnecessarily complicated, as we’ve discussed in a number of previous articles, including: Are Texas Lien Deadlines The Most Complicated In The Nation? Part of the problem is the statutes’ actual wording, which reads like a riddle, but another part of the problem is just the volume of […]

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Notice Compliance: You Can’t Trust the Recorder

Notice compliance can be difficult. Notices change from state to state, and project by project. Further complicating matters is that while most notices just need to be delivered to certain parties, usually the Property Owner and/or the General Contractor and others up-the-chain from the party providing notice, some notice are required to be filed. Even […]

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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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Instantly Clean Up Your Aging Accounts Receivables: A Fool Proof Plan

Getting paid in the construction industry can be an art because there are so many obstacles: pay when paid provisions, bankruptcy, joint check agreements, workmanship disputes, change orders, scope of work issues, prevailing wage claims, etc. And we’ve explored the cost to your business of this payment problem in the past. In fact, to the right is […]

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Some Contractors Get Paid. Some Don’t. Learn Why.

Anyone in the construction industry knows that getting paid is a challenge.  Construction Week Online conducted a poll asking their visitors to look at their accounts receivables and state whether they had any payment problems whatsoever.  Guess what?  Everyone had some type of payment problems. Literally, everyone. This should really be no surprise.  Look at […]

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Webinar: Preliminary Notices As The Secret Sauce For Your Credit Department

Establishing a policy to send a single document – the preliminary notice document – may change your company’s fortunes with DSOs, aging receivables, and bad debt.  So, why aren’t you doing it? Getting paid in the construction industry is an art form, and the preliminary notice document has been used by contractors and suppliers for […]

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Mechanics lien rights for equipment rental

Missouri Makes It Easier For Equipment Renters To Protect Lien Rights

Missouri HB 427 and Senate Bill 357 “modif[ying] the law relating to mechanics’ liens for rental machinery and equipment” was signed into the law by the state’s governor on June 28, 2013, and is slated to take effect on August 28, 2013.  The changes are not substantial because parties in Missouri will have the same […]

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Florida Notice To Owner Mistakes That Can Kill Your Mechanics Lien Rights

Anyone doing construction in Florida knows that a “Notice to Owner” or “NTO” must be delivered at the start of a new project to protect a company’s valuable mechanics lien rights, but as with anything in the lien laws, the period of time when this notice may be validly sent is not aways clear. This article […]

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