mechanics lien compliance in the cloud

How to manage lien deadlinesand compliance in the cloud

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Construction Credit Knowledge

Part I: Why LienPart II: Why The Cloud Part III: How

Part I: Why LienPart II: Why The Cloud Part III: How

Problem: You’re Unpaid

Solution: Too Many. Which Will Work?

Problem: You’re Unpaid

Solution: Too Many. Which Will Work?

hint: liens work.

The Construction Industry Has Unique Credit & Collection Challenges

Some Remedies Just Stand Out As The Best Available

But Every Remedy Has Warts

Alternative 1: Personal Guaranty

The Warts:

The Good: Personal Liability Prioritizes Your Debt Among Others

Only as good as the individual signing it, and contract language can be tricky.

Alternative 2: Joint Checks

The Warts:

The Good: Staple of industry. Enables you to collect from other parties.

Joint check agreements vary from form to form, and courts interpret differently. You never know what you’re going to get.

Alternative 3: Notice of Intent to Lien

The Warts:

The Good: Highly effective, even when you don’t have lien rights.

If you don’t get paid, you just made an empty threat. This sets bad precedent.

Alternative 4: Good Contracts

The Warts:

The Good: If your agreement includes the right legal terms, you’ll have lots of leverage.

It doesn’t guarantee payment, and must be done before you have a payment problem.

Alternative 5: Followup

The Warts:

The Good: Following up on unpaid accounts is very effective to get them paid.

Sometimes, a non-pay situation will escalate too far to be solved by followup or similar management tools.

But The Mechanics Lien Is The Best Remedy Available To Contractors And Suppliers.

Construction Lawyers Agree:

“A personal guarantee or joint check agreement is nice to have, but not a substitute for a lien or bond claim.”

Joe Virene, Esq.Texas Subcontractor & Supplier Legal Guide

Construction Lawyers Agree:

“An Unpaid Contractor’s Best Friend”

David T. Arena, Esq.Illinois Mechanics Liens: Di Monte & Lizak LLC

Construction Lawyers Agree:

“An essential collection tool for contractors and material providers in construction projects.”

Paul C. Bauducco, Esq.Smart Tools of the Construction Industry

Why Mechanics Liens Rule

View This Other Presentation To Learn Why Mechanics Liens Work To Get You Paid

Or Articles Here:Why Lien

Part I: Why LienPart II: Why The Cloud Part III: How

What is “the cloud?”

Is IT Going The Way Of The Milkman?

-- National Association of Wholesale Distributors

Buy Software Licenses

Install on every machine

IT on call to fix any problems with hardware/software

Must set up a backup plan to always backup data

Must create internal network to share data within software

Update software to fix any bugs on all computers

Upgrade to newest software version

• Everyone logs in through a browser• Never have software installation problems / upgrades• No need to create a computer network• All data is saved on a remote, backed up, and protected server• Systems can interact with each other easily

Part I: Why LienPart II: Why The Cloud Part III: How

Demo

• Everyone logs in through a browser• Never have software installation problems / upgrades• No need to create a computer network• All data is saved on a remote, backed up, and protected server• Systems can interact with each other easily

Your ERP / Accounting Platform

Stores Data In The Cloud

Received by zlien

RESULT: Automate Preliminary Notices

RESULT: Always Know Your Deadlines

RESULT: Lower DSOs, Less Bad Debt

• 2 Emails Per Week For 6 Weeks

• Credit & Collection Policy Tips

• How Successful Credit Professionals Increase Revenue And Decrease Risk Free!

http://zlien.us/6week-creditpro

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