Getting Paid On-Time and In-Full for your properly performed work is THE most important thing on your projects. It's the reason that you even bid the job.
A few simple steps can assure that:
• You are paid in-full and on-time.
• That you have the right to be paid, if the owner doesn't pay the contractor because of some other reason that
you didn't even have a hand in.
• Can assure that you are paid even if the contractor files for bankruptcy.
Ask yourself, does this make sense?
• Your employees want to be paid on Friday or they aren't showing up on Monday.
• The Tax Man wants to be paid on time or you have to pay huge penalties and interest.
• If you are union, the benefits have to be paid on time or you have to pay huge penatlies and interest (and
usually the union's attorney's fees because they are going to sue you).
• Your suppliers want to be paid or they will stop supplying, killing your projects.
• Your banker wants to be paid or they will cut your line of credit keeping you from paying anything else, even
having to come up with cash right now to bring you in line with new lower limits.
• You want to be paid or...or what? You're going to pull off the job and risk being replaced and sued for the cost
of the replacement contractor, delay damages, liquidated damages.
The best way to avoid all of these bad things is to have started off doing the right things.
• Finding the Notice of Commencement (it's different from the Public Project NOF)
• Serving the Notice of Furnishing
• Sending the right "Reminders"
• Filing your Private Mechanic's Lien (It's Different from the Public Lien)
• Protecting ALL of your money, even your Retainage
Watch this Video to learn:
• How to Bid to be sure you can get Paid On-Time and In-Full
• What to say when you negotiate your contract to be sure you can get Paid On-Time and In-Full
• Why the first steps can get you paid "On-Time."
• One simple sentence you can put in your contract to give you the right leverage to be paid On-Time on every
• When and Why these easy steps need to be done to assure that you are even in the right line for payment.
• How to follow these steps with out "offending" some "sensitive" contractors.
• How to figure out who the "sensitive" contractors are, even before you bother bidding to them.
• How to know whether your project is a public project or a private project.
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