Contracts Matter; Collecting Final Payment
By Michael Stone – (Sep 1, 2021)When you provide a dishonest client a cost breakdown of their job, things can go wrong.
Business or Charity?
By Michael Stone – (Jan 8, 2020)If you’re a business owner and take on a project out of the goodness of your heart, recognize you might not get paid and will be funding the project.
Payment Methods
By Michael Stone – (Dec 11, 2019)I don’t think writing a check is old fashioned, but there are so many advantages to using a credit or debit card that it’s become the preferred payment method for many.
Keep Your Head, Get Paid, Protect Yourself
By Michael Stone – (Mar 16, 2016)Sometimes a potential client expects you to work for free. That’s not a smart route to take unless you have a lot of money in the bank and time on your hands.
Dishonest Clients; Collecting the Final Payment
By Michael Stone – (May 27, 2015)How do you deal with a dishonest client? I recently corresponded with a contractor concerning this issue.
Payment Schedules on Small Jobs
By Michael Stone – (Feb 18, 2015)It’s important to manage the payment schedule on your jobs, but not all jobs are the same.
Getting Paid
By Michael Stone – (Jun 11, 2014)If the payment schedule is adjusted after you’ve started a job and they aren’t willing to pay what’s owed, file liens. You must protect your right to be paid.
How Not to Do Business
By Michael Stone – (Mar 15, 2012)A friend called today with a problem. He subbed his work to a general contractor from the east coast to do a job here on the west coast at a government facility.
Sending Invoices for Construction or Handyman Work
By Michael Stone – (May 16, 2011)Invoicing is one way clients delay paying. "Thanks for doing that work, send me an invoice, okay?" Why do contractors agree? Maybe they believe everyone does it.
Asking for a Lien Release Prior to Payment
By Michael Stone – (Mar 15, 2011)A specialty contractor said, "A general contractor called and asked me to send a lien release. If I do that, he will send a check for what he owes me."
No More Mr. Nice Guy
By Michael Stone – (Mar 25, 2009)I took a call from a married contractor with four young children. He can’t collect the final funds due from an owner for a large job. They are about to lose everything.
Why You Need a Well-Written Contract
By Michael Stone – (Jan 3, 2008)A client decided to change the rules of their contract. She decided not to pay the full amount or on time as the contract specified.
Provide a Service, Make a Profit
By Michael Stone – (Oct 19, 2006)A young businessman called. He was in a state of shock after checking his books over the weekend and found over $11,000 in receivables, much of it over 30 days.
Getting Paid for Quotes – Part 2
By Michael Stone – (Apr 27, 2006)Respect your time – get paid for the work you do.
Play By The Rules
By Michael Stone – (Feb 24, 2006)I was recently involved as an expert witness for a contractor who wasn’t getting paid for work completed. The hardest part will be proving actual expenses for the job.