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Does a Lien Affect Your Credit Score?

Levelset

If you receive a notice that a lien has been filed on your property, you may wonder how it will affect your credit score and your ability to borrow money or get credit. Mechanics liens are different from other collection instruments, so they are treated differently when it comes to reporting on your credit history. What is a lien?

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Autodesk Doubles Down in Helping the Construction Industry Reduce Risk 

Autodesk Construction Cloud

So how can companies optimize for their bottom line without putting their businesses at risk? . Firms that want to stay both competitive and resilient in an evolving economic landscape need a strong risk management strategy – yet this is easier said than done. Risk management is a multifaceted challenge.

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4 Key Habits of Large, Successful Contractors

Levelset

However, smaller construction businesses are much less likely to prequalify their customers than larger businesses — and that could increase the risk of slow payment. Get information about their credit history. A preliminary notice informs property owners that a contractor, supplier, or equipment lessor is working on a project.

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The Preconstruction Phase: Understanding the Process & Risks

Levelset

An architect, designer, or design-bid contractor will perform planning and engineering services for a prospective project owner, providing them with the information they need to move forward. This information helps the client determine whether the project is feasible for their needs—something that is incredibly valuable to find out early.

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5 Ways to Improve Cash Flow in Your Construction Business

Levelset

Protect your lien rights. Mechanics lien rights are a tool to help the construction industry get paid for its work. The first step to this is sending a preliminary notice, which informs the property owner of work on their projects. Eliminate any questions about the costs of jobs, labor, and payments by tracking every dollar.

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constructionattorneyblog: illinois supplier denied mechanics lien

Construction Lawyer

The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. You should consult an attorney licensed in your jurisdiction before using any of the information contained at this site. In other words, you use the stuff we post here at your own risk. LEXIS 153 (2nd Dist.,

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Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition 

Autodesk Construction Cloud

The inherent business-breaking risk can even lead many subcontractors to refrain from bidding on projects if a general contractor or an owner has a reputation for slow payments. Increasing financial risk. High compliance risk. Moreover, manual payment processes also increase compliance risk. Why Payapps?