notice of intent to lien: secret weapon to get paid in construction
TRANSCRIPT
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Construction Credit Knowledge
Facing Serious Difficulty Getting Paid
Have Some Delays But Cash Coming Through
Paid Fairly & On Time
77.8%
22.2%0%
http://zlien.us/17Fx31Y
PAY WHEN PAIDPAY IF PAID
JOINT CHECK AGREEMENTSBANKRUPTCIES
DELAY DISPUTES & DAMAGESWORKMANSHIP DISPUTES
CHANGE ORDERSSCOPE OF WORK ISSUES
CODE INSPECTION VIOLATIONSPREVAILING WAGES
Just $10,000 of Bad Debt
How Much Revenue To Break Even?
10% NET: $100,0005% NET: $500,0001% NET: $1,000,000
Client A
Client B
Client C
Client D
Client E
$10,000
$39,000
$45,000
$12,000
$3,500
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$10,000
$39,000
$45,000
$12,000
$3,500
Current 1-30 60-90 90+
A/R Aging Summary Growing Before Your Eyes?
PART 1: PART 2:Proactively Stop Your Accounts From Aging
Notice of Intent As A Secret Reactive Weapon
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You Do Not Need To Be Specially Qualified To Send A Notice of Intent
They Have No Actual Legal Consequence
They Are Inexpensive And Easy
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PART 1: PART 2:Proactively Stop Your Accounts From Aging
Notice of Intent As A Secret Reactive Weapon
Secure your lien rights with a Preliminary Notice. This is sent right when you begin furnishing.
START OF YOUR WORK
END OF YOUR WORK
30 DAYS PAST DUE
90 DAYS PAST DUE
Send a notice of intent to lien after work is completed and you are unpaid.
START OF YOUR WORK
END OF YOUR WORK
30 DAYS PAST DUE
90 DAYS PAST DUE
• 2 Emails Per Week For 6 Weeks
• Credit & Collection Policy Tips
• How Successful Credit Professionals Increase Revenue And Decrease Risk
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