What Is A Credit Policy? Simply put, a credit policy is a set of guidelines that 1) are used to determine which customers are extended credit and billed; 2) set the payment terms for parties to whom credit is extended; 3) define the limits to be set on outstanding credit accounts; and 4) outline the [...]
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Damage Restoration and Repair Companies Have Special Mechanics Lien Needs
When a hurricane, tornado, fire or other natural disaster causes property damage, companies like Harbro and Belfor jump to the occassion allocating massive resources and labor forces to help solve these property damage problems. While they are quick to get the damages repaired for property owners, payment to them for services is not as quick. [...]
Another Opinion: How Can Clients Handle Preliminary Notice Compliance?
A couple days ago, Scott posted a query: How Can Clients Handle Notice Compliance? That post was, in part, geared toward trying to frame the problem of mechanic lien notice compliance as one sub-set of the problems within the legal profession as a whole – and trying to crowd-source ideas on how it can be [...]
Challenges of Subcontractor Expansion And Where Mechanics Lien Law Fits In
We’re at the CFMA 2012 Annual Conference in Orlando, Florida, and there was a great session yesterday titled “The ‘Gotchas’ of Subcontractor Expansion.” This was a great presentation by Lisa Autino of Corbin Electric, Kevin Burnett of the Sundt Companies, and Marjorie Weber of Irontree Construction. Any discussion of subcontractor expansion is very relevant in [...]
How To Secure Your Risk When Shipping Materials On Credit
Zlien is an Associate Member of the Construction Financial Management Association (CFMA), and a controller for a material supply company recently posed a question to that organization’s LinkedIn Group, inquiring about how others in the group mitigate their risk when supplying materials on credit. There were 4 or 5 responses to the question, and these [...]
Bad Debt Is Very, Very Expensive For Your Business
What is the true cost of bad debt? In reviewing the CFMA’s (Construction Financial Management Association) LinkedIn Group, I came across this comment: The 2011 CFMA financial survey has gross margins for non-residential contractors at 7.5%. Our jobs are bidding at 3% fees, how does everyone get their gross margins up to 7.5%? The question [...]
3 Things To Ask Your Mechanics Lien Company
Zlien started doing business back in 2007, when there were barely any companies offering mechanic lien and preliminary notice filing services. Since then, a few folks took cues and now claim to offer professional lien and notice services. However, buyers should beware. The mechanics lien and preliminary notice business is not without its complications. Just [...]
The First Month of 2012 Is History – How Do Your Receivables Look?
At the turn of the calendar year, I wrote some blog posts about starting the year off right, including: (i) 2012 New Year’s Resolution: Protection Your Lien Rights and Stop Losing Money; and (ii) Use Zlien And The Lien Laws To Reduce Your Bad Debt in 2012. Here is the summary: Preserve your lien rights. [...]
Why Your Secretary Can’t Handle Mechanics Lien Compliance
In consulting with companies around the nation about mechanic lien compliance, you’d be surprised how many companies (big and small) try to delegate their company’s mechanic lien compliance onto a secretary or office assistant. The thought is that this mechanic lien stuff is just paperwork, and that’s what the secretary or assistant is paid to [...]
Round-up of Material Supplier Blog Series Posts
You may have noticed we’ve spent the past two weeks doing a pretty comprehensive series on material suppliers and the mechanic lien laws. Here’s a roundup of all those posts, which acts as a nice resource for material suppliers interested in learning more about their mechanic lien rights. Top 4 Mechanic Lien Law Challenges For [...]
The Material Supplier’s Guide To Creating A Mechanics Lien Policy
Here I present a short guide to material suppliers on creating a Mechanics Lien Policy for your company, ending with a sample policy for free download. What Is A Credit Policy? A Mechanics Lien Policy? According to businessdictionary.com, a credit policy is: Clear, written guidelines that set (1) the terms and conditions for supplying goods [...]
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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