Most, if not all, of your profit for your project is in the retainage payment. Don’t just walk away from retainage! Protecting your right to payment and protecting your bottom line is crucial as a business owner in the construction industry.
Learn how to protect yourself and your business in this blog—don’t just trust that people are always going to do the right thing. Take the time to double-check every part of your process and cover your a$$. Someone’s word in the construction industry, unfortunately, is not a sure thing.
You need an intentional and consistent collection strategy that must include all the steps required to have a valid lien. The steps required to have a valid lien in Texas have changed. Beginning on January 1, 2022, there are some new things to consider when making your collection strategy.
The worst thing you can do is ignore the demand letter you’ve just received. Learn the importance of understanding what a demand letter is and what you can do about it.
Your business needs income to survive—and knowing how to collect money you’re owed is essential for the health of your business. Creating and implementing a collection strategy before collections become an issue is essential to ensuring everyone who depends on you is taken care of.
Do you think your company could survive a legal land mine? What are your company’s pain points? Where are you struggling? Get a plan together to make your company land mine-proof. Be proactive and think preventatively—your company depends on it!
When you file a lien or threaten to file a lien, it is not uncommon for issues you have never heard of to arise. In this blog, we will go over the most common defenses to contractor liens and how to prepare for them while you are on the project.
Sending notice that you filed your construction lien is an essential part of retaining your lien rights and ensuring you are paid what you are owed. To make sure your notice is valid, be sure to send it to the right person and place, at the right time.
Texas is a Homestead State, so before you start filing your lien, make sure you know what type of project you’re working on. It is imperative that you follow the specific steps put forth in Texas legislation if you want your lien on a Homestead project to be valid.
Congratulations, you won! But, now what? How do you turn that judgment into cold hard cash? Time is of the essence! There are a few options to consider when determining how to get your money in the fastest way possible.