This post is geared to those in the construction industry who extend credit to clients, but the principles discussed below, can generally apply to all businesses. Credit applications are an integral part of credit policy. When a new customer wants to buy from your business on credit, there are certain pieces of information that need [...]
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Round-Up of Joint Check Agreement Blog Series Posts
This fall, we focused a lot of attention on joint checks, authoring a series of blog posts that discussed a range of joint check issues. Through the years of consulting with companies about payment rights, I’ve learned that while folks are often aware of the existence of joint checks, few truly understand what they are or [...]
Joint Check Agreement: Free Form From Zlien
Our three week long Joint Check Agreement Blog Series is drawing to a close. This post pulls together everything we’ve discussed to create an agreement form that is free to view, download and use. Of course, everything we do here on the Lien Blog is subject to our Terms of Use. Download Zlien’s Joint Check Agreement Form Free. We [...]
How To Enforce A Joint Check Agreement
Getting a joint check agreement is great for your company. In fact, as part of our Joint Check Blog Series we commented that these contracts are a Great Tool For Credit Managers. Nevertheless, joint check agreements are sometimes violated like anything else. Why You May Need To Enforce A Joint Check Agreement Let’s start with [...]
Joint Check Agreements And Bankruptcies
Bankruptcy is a significant credit and collections challenge in the construction industry. We all fear it. A customer filing for bankruptcy protection translates into attorney fees, payment delay and non-collectable debts. How do credit departments prepare for and respond to these bankruptcy situations? A few months ago, we ran a Bankruptcy Blog Series. These posts [...]
Joint Check Agreements v Mechanic Liens: Comparing The Tools
As part of our on-going Joint Checks blog series we’ve written about some of the positives and perils of that very common construction industry instrument. Since this is also a form of payment security (and sometimes a very good form), you may be a little confused about the differences between the two devices and whether [...]
Joint Check Agreements: 3 Fatal Mistakes You Can Make
Getting a joint check agreement is a plus for any credit department, and I highly recommend utilizing the joint check remedy when it’s available. Don’t make the mistake, however, of thinking that joint check agreements are a one-size-fits-all type of document. To the contrary, there are lots of traps and mistakes to be made. This post discusses [...]
Joint Check Agreement Fraud: Understand And Prevent It
Joint check agreements are popular in the construction industry. In fact, they are so commonly used they are often referred to as a “construction instrument,” insinuating that they are exclusively used in that industry. Also common, unfortunately, is joint check agreement fraud. This post explains where joint check agreement fraud occurs and helps you understand [...]
Joint Check Agreements Must Be Signed By Everyone
Who must sign a joint check agreement, and why would that even matter? Getting ink from the appropriate parties is a critical step in executing a valid joint check agreement. As explained in prior posts within the Joint Check Blog Series, joint check agreements are commonly misunderstood leaving parties with an empty promise from the [...]
The Joint Check Rule Can Limit A Material Suppliers Claim For Further Payment – Accept Joint Checks With Caution
Joint check agreements and joint checks are looked upon quite favorably in the construction industry, and for good reason. While joint checks can be issued in any transaction they are most commonly used in the construction industry, and they usually come along to help guarantee payment or get payment to lower tiered subcontractors or suppliers [...]
Joint Check Agreements: A Great Tool for Credit Managers
Earlier this month I wrote an article about credit managers, outlining what I think are the 3 Primary Traits of a Great Credit Manager. The first trait was that great credit managers “understand all of the hard work comes before credit is actually issued,” mentioning the proactive step of requiring Joint Check Agreements when confronted with [...]
Columnists
Scott Wolfe Jr., JD
CEO of Zlien, and a licensed attorney in six states, he's experienced in construction & corporate credit management laws....Read More
Nate Budde, JD
Zlien's Chief Legal Mind and licensed attorney. Nate is a Stanford & Tulane Grad, a Jeopardy! alumni and more....Read More
Seth Smiley, JD
Construction attorney in California & Louisiana, Seth is an experienced construction litigator and Zlien's COO....Read More
Funding Gates
The world's first CRM for receivables management.Read More
Gretchen Lynn
Operations Genius at Zlien - She writes all the fun stuff here.Read More
Jason Bull
Zlien's Research Giant - He shares tips and info on how to confirm project, surety or construction party data.Read More
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