The construction industry is complex and you juggle so much as a credit professional. It’s not an accident that the construction industry boasts some of highest failure rates of any other business sector, and that building suppliers have some of the lowest profit margins of all industries. Getting paid in the construction industry is hard, [...]
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Navigating Financial Risk In A Rebounding Economy
The construction economy is picking up. Over the past few weeks there has been a lot of talk about whether the economic rebound is going to help or hurt businesses in the short term. The conversation first appeared in a Viewpoints article published by ENR.com, Beware the Recovery: What History Teaches Contractors and Sureties. Therein, Thomas [...]
Credit Management: Why Aren’t More Accounts Receivable Secured?
A while ago, I posed a question over at the Construction Credit Professionals Linked in group: “Why Doesn’t Everybody Secure the Debts Owed to Them?” With the variety of ways to secure outstanding debt, and new technology making it easier for any type of business to gain that security, it seems to me that the [...]
Open Accounts: An Introduction
Although I most frequently write about mechanics liens, mechanics lien law, and lawsuits to foreclose on mechanics liens, I also have an interest in the law surrounding credit management. This law is different in every state; there are different statutes of limitations, different maximum interest rates lenders can charge, and different licenses parties must obtain. [...]
Are There Too Many Lawyers In Construction?
In 1958, President Dwight D. Eisenhower issued a proclamation designating May 1st as “Law Day,” and he “especially urged the legal profession, the press, and the radio, television and motion-picture industries to promote and to participate in the observance on that day.” In honor of the same, we’re going to take a look at the somewhat controversial [...]
Keys To Protecting Your Business From Risks Of A Rebounding Economy
A few months ago we wrote an article on the back of a great ENR.com Viewpoints editorial by Thomas C. Schleifer, a research professor at Del E. Webb School of Construction. His article – Beware The Recovery: What History Teaches Contractors and Sureties – gave folks in the industry an excellent warning in the face [...]
Miller Act and Attorney Fees: Recent Georgia Case Provides Insight
The issue of whether or not attorney fees can be recovered under the Miller Act is a topic routinely discussed by courts, and by us on the Lien blog, because the law on this issue is complex, confusing, and unclear. One of the trickier aspects of determining whether, or under what provision, attorneys fees may be recovered [...]
Construction Credit Interviews: George Hedley, Construction Business Coach
We published an article last week referencing a write-up in Independent Electrical Contractors’ Insights Magazine about getting paid faster in the construction industry. That article – How To Get Paid Faster – was authored by George Hedley, a licensed business coach and author of The Business Success Blueprint For Contractors. We found the tips in George’s article [...]
Pennsylvania Mechanics Liens: Limiting Subcontractors’ Liens to Unpaid Balance?
As frequently mentioned on this blog, mechanics liens serve one purpose – to provide security to parties furnishing labor and/or material to a construction project for the improvement of real estate. This security is important; a business’s knowledge that payment will be forthcoming for work performed is crucial to keeping the wheels of industry turning [...]
Credit Management: Legal Tricks To Make Extending Credit Easier
Last week I wrote an article about the epic battle between Credit Departments and Sales Department. In examining how the two departments can co-exist, and thrive, we discussed a best practice of creating options to take new business. If a customer’s credit doesn’t qualify, in other words, what other options are there to bridge the gap and [...]
Bankruptcy vs. Mechanics Liens: North Carolina Gets It Right
Last year about this time, I posted a series of articles briefly examining the interplay between mechanics lien law and bankruptcy. Bankruptcy is all too common in the construction industry, as that industry faces some of the highest failure rates in the nation. This means that securing the debt owed for the extension of labor and/or [...]
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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