If you’re a business owner and you take on a project out of the goodness of your heart, recognize that you might not get paid and you’ll be the one funding the project.
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.
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.
How do you deal with a dishonest client? I recently corresponded with a contractor concerning this issue.
It’s important to manage the payment schedule on your jobs, but not all jobs are the same.
If I were to catalog incoming phone calls by topic, I’d guess at least half of them have to do with collecting payment on jobs. What do you do when they won’t pay?
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.
Intent to lien – payment schedules – contract language. Common problems contractors experience on jobs.
We have to share this video, sent to us by a friend. It's priceless.
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.
I read an article by a practicing attorney dealing with pay when paid (or pay if paid) clauses in contracts, specifically between general contractors and subcontractors.
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.
Client misunderstandings happen, but there are steps you can take to make sure you are paid in full, on time, and reduce those misunderstandings.
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."
They want to know how to deal with owners who come to them 60%, 70% or 80% of the way through a job and announce they want to re-negotiate the price of the contract.
This week, I was reminded again about the need to be diligent in not just watching our receivables, but also in collecting them.
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.
Many of you do handyman projects or work for property management companies. Here is something that you need to watch.
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.
A coaching client related how one of his customers arbitrarily decided to change the payment schedule that was clearly written on the contract.