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.
Getting Paid
Payment Methods
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
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
How do you deal with a dishonest client? I recently corresponded with a contractor concerning this issue.
Payment Schedules on Small Jobs
It’s important to manage the payment schedule on your jobs, but not all jobs are the same.
Enforcing Your Payment Schedule
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?
Getting Paid
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.
Remodeling Contracts – Intent to Lien, Payment Schedules
Intent to lien – payment schedules – contract language. Common problems contractors experience on jobs.
The Vendor Client Relationship
We have to share this video, sent to us by a friend. It's priceless.
How Not to Do Business
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.
“Pay If Paid” or “Pay When Paid” Agreements
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.
Sending Invoices for Construction or Handyman Work
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.
Set a Payment Schedule, and Keep 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.
Asking for a Lien Release Prior to Payment
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."
Get Paid
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.
Set a Standard for Attorneys
This week, I was reminded again about the need to be diligent in not just watching our receivables, but also in collecting them.
No More Mr. Nice Guy
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.
Payment terms that won’t bankrupt your business
Many of you do handyman projects or work for property management companies. Here is something that you need to watch.
Why You Need a Well-Written Contract
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.
Changing the Payment Schedule – Honor Your Contract
A coaching client related how one of his customers arbitrarily decided to change the payment schedule that was clearly written on the contract.
