Extending Credit? UCC Filings Reduce Risk and Stress
UCC Filings Secure Your Equipment, Inventory and Receivables
Our holistic and cost-effective UCC filing programs will reduce your DSO, improve your cash flow and afford you the right to repossess your inventory or equipment. UCC filings can even increase your sales! With security in place, you can sell to previously unobtainable marginal accounts and increase your customer’s credit lines.
Protect Your Right to Get Paid
A UCC-1 filing puts you first in line to get paid by creating a legal claim on a debtor’s assets.
Backed by the UCC
Article 9 of the Uniform Commercial Code supports your right to secure interest in a customer’s property.
Reduce Risk. Gain Peace of Mind.
Protect your receivables, reduce bad debt, and move forward with more confidence.
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Leasing Companies
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Stop Losing, Start Protecting: UCC Filings Reduce Financial Risk
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NCS' Top 30 Commercial Credit Management Tips
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What Is a UCC-3 and Why Would You File One?
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Healthcare Bankruptcies: A Financial Risk to Suppliers
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Still Using Credit Insurance? Here Are 5 Reasons to Consider UCC Filings Instead
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How UCCs Can Enhance Personal Guarantees
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Featured Resource:
Texas Preliminary Notices Are for Non-Payment
In Texas, preliminary notices follow non-payment. Learn how to protect your lien and bond claim rights with correct timing and compliance.
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Texas Preliminary Notices Are for Non-Payment
In Texas, preliminary notices follow non-payment. Learn how to protect your lien and bond claim rights with correct timing and compliance.
Lien Index Q2 2025
Lien activity down 3% in Q2 2025 as contractors faced cash flow issues, bankruptcies, and labor shortages; see top states & regional trends.
The Difference Between Consignment and Bailment
For creditors, Consignment and Bailment transactions get a little fuzzy. In this infographic we'll compare Consignment and Bailment and offer some best practices for you when securing your...
White Paper: UCC Filing and Customer Default
If you’ve filed a valid UCC-1, have a signed contract, and accurately described your collateral, you’re in the driver’s seat when a customer defaults. You don’t have to beg for payment or write off...
Alec Papesch on The Credit Line Podcast
Alec discusses the role of technology in credit management and the future of the credit profession.
Purchase Money Security Interest and Super-Priority
Secure your payments with Purchase Money Security Interest filings and super-priority status. Learn how to protect your assets and get paid.
Business Bankruptcies Are Rising; Time to Protect Your A/R
Business bankruptcies are rising across industries. Learn how UCC filings and mechanic’s liens can help you recover payment.
Lien Index Q1 2025
Lien Index down 5 points from Q4 to 55. Mechanic’s Lien activity has declined, but forecasted to increase in coming quarters.
UCC Filing Myths
Dispel the myths surrounding UCC Financing Statements and how they can benefit your credit process. Expert insights from NCS Credit.
Attorney Services Tips for Credit Professionals
Struggling to manage A/R and past-due accounts? In this video, we’ll share key best practices to help you determine when it’s time to turn to us for expert support.
Infographic: Most Common UCC Filing Myths
Sometimes UCC filings get a bad rap because of common myths like "I'll always be behind the bank." So we've rounded up some of the top myths and our UCC experts have busted them!
Construction Litigation Attorney
Selecting the right attorney for construction litigations can impact your ability to secure receivables. Learn how to weigh your options.
Payment Protection Rights for Los Angeles Wildfires
Importance of protecting payment rights for material suppliers & subcontractors in the aftermath of the Los Angeles fires.
Reduce the Need for Collections with UCC Filings
Learn how UCC filings can reduce collections, secure your accounts receivable, and enhance your financial position as a creditor.
Lien Index Q4 2024
Slow payments continue to plague the industry, as the Lien Index Q4 2024 declined to 57, a 4 point drop from Q3 2024.
Preliminary Notices 101: A Beginner’s Guide
New to mechanic's lien and bond claim rights? Here's the top info you should know about preliminary notices.
Navigating Credit Trends in 2025
Credit will be shaped by tech innovations, regulatory changes, & evolving economic policies. Learn more about navigating credit trends in 2025.
NCS Credit Lien Index Q3 2024
The Lien Index declined to 54 at the end of Q3, down 6 points from the revised Q2 Index of 60 and down 4 points over Q3 2023.
White Paper: UCC Filings a Secured Transactions Overview
Download this paper to learn more about the scope of Article 9, including conveying a security interest and perfection, security interest priorities, defaults, and remedies.
Past-Due Accounts: Collection Agencies vs. Write-Offs
NCS Attorney, Michelle Gerred discusses why you should use a contingent collection service before writing off bad debt.
How to Spot and Avoid a Common UCC Filing Scam
Filing UCCs is one of the most common trade credit practices! Unfortunately, there are scammers that aim to take advantage. Learn how to spot a scam.
Unlock the Power of Mechanic's Liens
In this article, we’ll review what the mechanic’s lien process is and why it’s important to your credit management process. You too can unlock the power of mechanic's lien and get paid for the work...
NCS Credit Lien Index Q2 2024
The Lien Index declined to 58 at the end of Q2, down 8 points from the revised Q1 Index of 66 and up 4 points over Q2 2023.
Primary Types of Lien Waivers
This infographic reviews the fundamentals of conditional, unconditional, partial, and final lien waivers. Ready to learn more about the primary types of lien waivers and which waiver could provide...
NCS Credit Lien Index Q1 2024
Rising 6.7% over Q4 2023, the Lien Index ended Q1 2024 at 64, signaling payment challenges persist as mechanic's lien activity increases nationwide.
Healthcare Bankruptcies: A Financial Risk to Suppliers
Learn how creditors providing everything from basic office supplies to extensive operating room equipment have an opportunity to file a UCC to recover funds and repossess equipment.
UCC Filings Reduce Financial Risk
In this resource, we discuss what is a UCC filing and who should file UCCs, top UCC filings myths debunked, UCC filings vs. credit insurance and the competitive advantage of UCC filings.
NCS Credit Lien Index Q4 2023
The Lien Index came in at 55 for Q4 2023. This is a 3 point drop from the revised Q3 Index of 58. Lien activity is 2 points higher than Q4 2022.
Rental Equipment in Pennsylvania: The UCC Filing Advantage
Review this recent Pennsylvania legal decision and how UCC filings are poised to be the payment leverage rental equipment companies need.
NCS Credit Lien Index Q3 2023
The Lien Index decreased to 51 in Q3. The decrease comes on the heels of a revised rate of activity for Q2 2023, in which the Index increased from 47 to 54.
Changes to Florida’s Lien and Bond Claim Laws
Florida passed House Bill 331 (effective 10/01/2023) which revised mechanic’s lien and bond laws. Read today's post to learn more.
Help Your Customer Understand UCC Filings
Filing UCCs? Send your customer this letter to help them better understand the UCC filing and how it impacts them.
Comparing USA's UCC & Canada's PPSA
Compare Canada’s PPSA and the U.S. UCC - see how each handles filings, priority, and defaults to navigate secured transactions.
Serve the Preliminary Notice Upon the Construction Lender
You serve preliminary notices to protect lien rights. Did you know some states require the lender also receive a copy of the notice?
NCS Credit Lien Index Q2 2023
The Lien Index decreased 16 points in Q2 2023 to 47. The significant decrease comes as the revised Q1 2023 Index skyrocketed to 63.
The Shift from Credit Insurance to UCC Filings Explained
While insurance companies deliver crippling blows to businesses’ financial security, credit departments bring UCC filings into renewed focus.
Selling on Consignment and UCC Filings
In consignment filings, the consignor of the goods remains the title holder until the consignee sells the goods – once the consignee sells the goods, the consignee obtains the title, which triggers...
Serve the Lender with the Notice
A lender is the party (or parties) funding the project. Often the lender is a financial institution, but sometimes, especially in the case of P3s, the lender may be a corporation or other entity.
Top 5 Rookie Mistakes with Your UCC Security Agreement
The accuracy of your Security Agreement can make or break your security interest. Don’t make these rookie Security Agreement mistakes.
Bankruptcy Proof of Claim: Don't Forget!
With bankruptcies on the rise, it is increasingly likely you'll need to complete a bankruptcy proof of claim. Learn more in this post.
NCS Credit Lien Index Q1 2023
The Lien Index decreased 4 points in Q1 2023 to 49, an 8% decrease from revised Q4 2022 and a 20% increase year over year.
Statute Changes for New Mexico Mechanic's Liens
Under New Mexico's revised statute, to recover costs and fees, you need to serve a copy of the recorded mechanic’s lien upon the owner.
New Mexico Lien and Bond Claim Rights
Curious about mechanic’s lien & bond claim rights in New Mexico? Today's post is for you because we’re in a New Mexico state of mind!
What Happens to Bond Claim Rights When a Notice is Served but Not Received
What happens to payment bond rights when the required preliminary notice is served but never received? One lucky claimant found out.
Blanket Filing or PMSI Filing
A creditor can file a PMSI and Blanket Filing on the same collateral. Unsure which filing your company should be doing?
Obtain a Copy of The Payment Bond
Getting a copy of the bond up front is prudent. As a best practice, obtain a copy of the payment bond when contracting for the project.
The Competitive Advantage of UCC Filings
UCCs create opportunities. UCCs offer additional security, which means you could sell to marginal accounts that were previously out of reach.
North Carolina Mechanic’s Lien Rights: What is a Lien Agent?
Learn about North Carolina lien agents. Learn their roles, responsibilities, and how they impact your construction projects!
NCS Credit Lien Index 2022 Q4
The Lien Index increased 3 points in Q4 2022 to 47, a 7% increase over Q3 2022 and 34% increase year over year.
Safe Harbor Won't Save Your Florida UCC
Safe Harbor couldn't save this UCC. Florida's 'zero tolerance' policy means you must strictly comply with Article 9-503(a). Learn more here!
NCS Credit Lien Index 2022 Q3
The Lien Index increased 4 points in Q3 2022, an 11% climb over Q2 2022. As expected, Q3 mechanic's lien activity rose 11% over Q2, and activity remained lower than Q1, which peaked at 43.
Perfecting Security Interests: Avoiding Improper Forms
When preparing documentation to perfect a UCC filing, the requirements may not be too complex, but you must strictly follow the requirements.
Special Types of Liens: Oil and Gas Liens
The question: “Are there special types of mechanic’s liens?” The Answer: YES! Some include Oil, Gas, Mineral, Wells, and Quarries.
UCC Filings: Does DBA Matter?
The most common UCC filing mistake is incorrectly identifying the customer. A misspelling could hurt your security, learn more here.
NCS Lien Index 2022 Q2
The Lien Index decreased 8 points in Q2 2022, a 19% drop over Q1 2022. Despite the significant drop in mechanic's lien filings in Q2, the overall activity level is average for this time of year.
Importance of Writing Effective UCC Collateral Descriptions
A UCC must include a description of property serving as collateral. Find out how being too vague or specific could jeopardize your security.
The Importance of Project Type for Lien Rights
Learn more about the critical role project type plays in protecting your mechanic's lien and bond claim rights.
Protect Your Purchase Money Security Interest in Goods
A perfected PMSI can give you priority in goods. But what happens when you don't perfect your PMSI? Read this post to learn more!
What's Included in a California Mechanic’s Lien?
Today’s post is for all you DIY-ers. Here’s a breakdown of the information you should include within your California mechanic’s lien.
Bonding Off a Mechanic’s Lien: What Is It?
Bonding off a mechanic’s lien doesn't mean your mechanic’s lien rights are gone. check out this post to learn what you'll do instead.
Georgia Mechanic’s Liens & Bond Claims
Furnishing to a project in Georgia? Check out these steps to protect your mechanic's lien or bond claim rights for projects in Georgia.
Non-Statutory Notices: 3 Great Reasons to Serve Them
No required preliminary notice to protect mechanic's lien rights? You should serve a non-statutory notice and we have 3 great reasons why!
Bankruptcy Proof of Claim Is Late
When the bar date is set, you’d better have a good excuse for missing it, because a deadline is a deadline. Careful, don't lose your claim!
NCS Lien Index 2022 Q1
The Lien Index's rate of increase slowed from an adjusted +22% in Q4 2021 to +13% in Q1 2022.
Material Suppliers' Mechanic's Lien Rights in Indiana
In a significant legal reversal, a material supplier selling to a material supplier now has mechanic’s lien rights in Indiana. Check it out!
Common Words in Mechanic's Liens and Construction Credit
Every business has its own keywords, phrases, and acronyms. Here are some of the most common terms you may hear in mechanic's liens & construction credit.
When Should the Clerk Record the Mechanic's Lien?
This decision, while victorious for the lienor, is a great reminder to always confirm your document has been received AND recorded timely.
Changes to North Carolina Lien Waivers
North Carolina lien waivers on progress payments are only enforceable for the amount/payment actually received. Awesome news!
Mechanic’s Liens and Construction Credit, Common Terms
Here are some of the most common keywords and phrases you may hear in the land of mechanic’s liens and construction credit.
NCS Lien Index 2021 Q4
The Lien Index jumped to 19.7% in Q4. Throughout Q4, national mechanic’s lien activity rose across all regions, though most significantly in the Midwest.
Four Reasons We Love UCC Filings
Here are four reasons we love UCC filings and you should too! Plus a bonus 5th reason - check out this post for details!
New Brunswick Mechanic’s Lien Changes
Here’s a brief look at some key changes to New Brunswick mechanic’s lien statute, which came into effect toward the end of 2021.
States that Require Lien Waivers to be Notarized
Question: “Does this lien waiver have to be notarized?” Answer: “Yes, in Georgia, Mississippi, and Wyoming.” Let’s review!
Mechanic’s Liens on Arkansas Residential Projects
Learn how one residential contractor could have saved thousands of dollars if they would have served their preliminary notice.
Safe Harbor Might Save One Creditor's UCC Filing
A $3M reminder to always list your customer’s name on the UCC as their name appears on the public organic record.
Mechanic’s Lien on a Wind Farm Can Be Complicated
Supplying materials or labor to a wind farm project? Keep these 7 things in mind when filing your mechanic's lien.
North Dakota Mechanic’s Lien and Bond Claim Rights
What do North Dakota and mechanic’s liens have in common? They are both legendary! Let’s check out North Dakota mechanic’s lien rights.
Bankruptcy Proof of Claim: What if It's Late?
And just like that, the creditor’s claim for $169,569 was not entitled to distribution, because it was filed a day late. Ouch!
Texas Mechanic’s Lien Statute Changes
Here’s a look at the Texas statutory changes effective for general contracts executed on or after January 1, 2022.
Nebraska Construction Lien and Bond Claim Rights
Furnishing to a project in Nebraska? Read this post to learn more about securing construction lien and bond claim rights.
What Is a UCC-3 Filing and Why Should You File One?
A UCC-3 can wear many hats. It can be used to continue, amend, or terminate your UCC filing. Learn more about the UCC-3 and its role in your security interest.
NCS Lien Index 2021 Q3
The Lien Index increased slightly to -9.03% in Q3, up approximately .5% over Q2.
Serve and File the Mechanic’s Lien
What happens if you file your mechanic’s lien, but don’t serve the lien on the appropriate parties? Your lien may be invalid - learn more!
Indiana Material Supplier Gets a Win in Appeals Court
A case that started as “material supplier to material supplier” shifted to “material supplier to subcontractor” - what happens to the lien?
Security Interest Survives Crazy Collateral Transfers
This case is a little crazy and convoluted, but the takeaway is strong. A security interest will survive, if properly perfected.
Utah Mechanic’s Lien and Bond Claim Rights
Furnishing to a construction project in Utah? Today’s post is just for you as we explore Utah mechanic’s lien and bond claim rights.
Mechanic’s Lien Rights in Canada at a Glance
Did you know Canadian provinces have their own lien and bond claim statutes? Let’s review the steps for securing lien rights in Canada.
Add a Check to Your Mechanic’s Lien Checklist
Did you know your lien could be rejected by the recording office if you don't provide a check for the exact amount of the recording fees?
Payment Bonds and Bond Claims
Learn who is a party to the payment bond, who is protected by the payment bond, how to know whether a payment bond has been issued, and when and how a bond claim should be served.
NCS Lien Index 2021 Q2
The Lien Index decreased 9.6% in Q2, following two quarters of increased mechanic’s lien activity (Q4 2020 and Q1 2021).
Is the Lien Consensual or Statutory?
There are 2 types of liens creditors may use: consensual or statutory. Check out this post to learn what the difference is & why it matters.
Compliance with UCC 9-503(a) when Filing UCC in Georgia
Compliance with UCC 9-503(a) must be one of the easiest and most challenging aspects of perfecting security interests. Let's see why!
UCC Filings Work, Here's a $95,000 True Story
Did you know you could potentially recover funds from unsecured creditors who were paid with funds secured by collateral identified in your UCC?
Commercial Credit Management Tips
Download this e-book to read 30 of our top commercial credit management tips from our Collection, UCC filing, and Notice & Mechanic's Lien Services.
Legislative Updates in Construction 2021
In 2021, several states enacted legislative updates to their mechanic’s lien and bond claim statutes. Here’s a quick recap of changes.
Preliminary Notices on Private Projects
View this reference to see which states require you to serve a preliminary notice before you can file a mechanic's lien.
Survey: Securitization on A/R During the Pandemic
The CRF surveyed the use and impact of securitization (UCCs, mechanic’s lien, etc.) on A/R during the pandemic. Here's what they found.
Arkansas Lien & Bond Law Changes in 2021
Learn more about the changes for Arkansas residential mechanic’s liens and payment bonds for public projects.
UCC 9-503(a) and a Creditor’s Security Interest
The spelling of your debtor's name on the UCC filing matters. Welcome to today’s edition of “The Tractors & Tribulations of UCC 9-503"!
Changes for Texas Lien Claimants Effective January 2022
Big things are happening in the great state of Texas, including changes to their mechanic's lien and bond claim laws. Let's review!
NCS Lien Index 2021 Q1
After a turbulent 2020, the NCS Lien Index (LI) reflected some return to normalcy in the latter quarters of 2020 and Q1 2021.
Changes to Iowa Mechanic’s Lien Law in Effect January 2022
There are some changes coming to Iowa's mechanic's lien and bond claim statutes. Here's what you should know!
New York Tolling the Lien Line
A lien claimant's lien was saved because the deadline was tolled. What is tolled and how did this claimant luck out? Let's take a look.
Lien & Suit Deadlines for Private Projects
Download this 50-state quick reference guide for mechanic's lien and suit deadlines for both commercial and residential private projects.
Wyoming House Bill Further Defines a Digital Asset
Wyoming recently defined a digital asset and identified it as an intangible under UCC Article 9. That means a UCC filing could protect you!
Bond Claim & Suit Deadlines for Public Projects
Download this 50-state quick reference guide for bond claim and suit deadlines for public projects.
Minnesota Prelien Deadline is 45 Days, Not 72 Days
What happens when your preliminary notice is late? In Minnesota, you may lose your mechanic’s lien rights. Here's what you should know.
Notice Deadlines for Private Projects
Download this 50-state quick reference guide for preliminary notice deadlines for private commercial & residential projects.
Warranty Work Doesn't Extend Washington Lien Deadline
We are frequently asked whether punch list or warranty work will extend the mechanic’s lien deadline. Let's see what Washington thinks.
Construction Project Liens: Federal, Public, or Private
Did you know a project could be more than private, public, or federal? How about quasi, leasehold, or sovereign? Learn more here.
UCC Terminated without Authorization
To have a UCC filing terminated without authorization is unfortunate; to have it happen twice? Well, that’s downright frustrating. What now?
Notice Deadlines for Public Projects
Download this 50-state quick reference guide for preliminary notice deadlines for public projects.
Can You Revive a UCC Filing?
Can a UCC be “revived” if you knowingly fail to timely file an amendment for a debtor’s name change? Odds aren't good! Let's learn more here.
Loves Furniture Bankruptcy & Mechanic's Liens
What does Loves Furniture bankruptcy have in common with Michigan's mechanic's lien law? Here's a hint: a mechanic's lien could protect you.
5 Reasons to Consider UCC Filings Instead
Insurance companies deliver crippling blows to businesses’ financial security, credit departments have been carefully reevaluating risk mitigation strategies, and it’s brought UCC filings into...
Mechanic’s Liens & New Jersey’s American Dream
It is reportedly 3 million square feet, it's been decades in the making and with millions in mechanic’s liens, it’s not done yet.
Notices of Commencement: Top 7 Questions Answered
What is a Notice of Commencement? Do all states have Notices of Commencement? Why are these documents important? Answers are here!
NCS Insights for Credit Management in 2021
Bankruptcy Climate of 2020, Predictions for 2021, and What You Need to Do to Ensure Your Company is a Secured Creditor
Serve Your Pennsylvania Mechanic's Lien as Statute Dictates
Pennsylvania takes mechanic's liens statutes seriously. Learn how seriously when you read today's post about one creditor's costly mistake.
Wisconsin Construction Project for HARIBO Group
If you are contracted to perform work or supply materials to this delightful factory, don’t forget to secure your mechanic’s lien rights.
All Lien Waivers Aren't the Same
Did you know, there are different types of lien waivers? There are four primary types of lien waivers: partial conditional, final conditional, partial unconditional, and final unconditional.
Malls and Tickle-Up Effects of Retail Bankruptcies
Retail bankruptcies are on the rise and the impacts aren’t limited to suppliers of inventory and the retail employees. Who else is in danger?
The Path to BioFuel is Paved with Mechanic’s Liens
Over $15M in mechanic’s liens filed in 2020, $4.5M were filed between July and September 2020, construction and unpaid claims continue.
Georgia Lien Waivers: Changes Coming 2021
You may have heard there are changes coming to Georgia lien waivers. In today's post we'll review the key changes & what you should know.
$145M Waterfront Redevelopment, $5.7M in Mechanic’s Liens
A destination waterfront redevelopment with apartments, stores, restaurants, office space, and a few million dollars in mechanic’s liens.
You Received a Notice to Commence Suit, Now What?
You filed a mechanic's lien and then got a Notice to Commence Suit. What is it? Should you ignore it? Should you act? We've got the answer.
UCC Filing: Right of Repossession Without a Breach
Can you afford the risk if one of your customers defaults? What if 5 of your customers default? Don’t get burnt – get the dough! File a UCC.
Oceanwide Plaza in Los Angeles Buried in Mechanic's Liens
A GC is owed over $200M, and various subcontractors are owed an additional $2.5M, after furnishing to a project owned by Oceanwide Plaza LLC.
Equipment UCC Filings Best Practices
Selling equipment? You should consider protecting your receivable with a Purchase Money Security Interest (PMSI) filing. Here's why!
Out of Shape? The '24 Hour Fitness' Financial Failure
24 Hour Fitness bankruptcy isn't a surprise, but it does make the filing of mechanic’s liens extremely important.
Indiana Mechanic's Liens Require Two Notarizations
No, you're not seeing double. Filing an Indiana mechanic's lien? Look out for two separate notary sections.
Pandemic and Mechanic's Liens Hurting Yardbird
Unfortunately, the recently debuted Dallas location of Yardbird is burdened with some hefty mechanic’s liens; over $2.4M.
10 Lien Waiver Questions Answered
Download this quick read to get your lien waiver questions answered!
Key Changes to Tennessee’s New Construction Statute
Statute changes include additional prompt pay provisions, implementation of a new stop work notice, and a demand for reasonable assurances.
Your Credit-Granting Processes & COVID-19
We recently asked our clients whether the pandemic is impacting credit-granting processes & the proactive steps they're taking to secure A/R.
Legislation Updates for Wyoming, Utah & Virginia
There have been mechanic’s lien and bond claim legislation updates for Wyoming, Utah & Virginia. Here’s a quick rundown of the changes.
Wisconsin Lien and Bond Claim Rights
Furnishing to a private construction project in Wisconsin? Let’s review mechanic’s lien, bond claim, and lien on funds rights!
Watch Your Language, Your Lien Waiver Language
Lien waiver language is easily overlooked or ignored, despite its critical role in your mechanic’s lien rights. Let's review waivers!
No Ownership, No Lien in North Carolina
What happens if you are furnishing to a project and the party that hired you doesn't actually purchase the property you were hired to improve?
Construction Notice of Delay and COVID-19
Are you furnishing to a construction project? If so, should you send a Notice of Delay? We recommend that you and your legal team review your contracts to determine whether a Notice of Delay is...
What Happens if You List the Wrong Debtor Name in Kansas?
The details of Kansas UCC filings could be the difference in recovering hundreds of thousands and collecting pennies, or worse.
The Contractual Chain
Who is in the contractual chain? What is privity of contract? Who's covered by mechanic's lien and bond claim rights? Get answers here!
Personal Guarantee Enhanced by UCC Filing
PGs are an effective and popular credit tool; however, there are some things to take into consideration. Here's what you should consider!
Your Credit Management Arsenal & COVID-19
If you extend credit, you are vulnerable to risk. This vulnerability grows exponentially in the midst of tragic events, such as the pandemic.
UCC Collateral Description: What You Should Include
A perfected security interest is nothing without a collateral description. So what info should you include in your collateral description?
Public Projects & Preliminary Notices
Do you know there are 19 states that require a preliminary notice be served to protect bond claim or public improvement lien rights?
Who Signs the New Jersey Preliminary Notice
Did you know you could lose mechanic’s lien rights if the person signing the lien isn't authorized to do so? Check out this case.
Preconstruction Management Services Lienable In NY?
What are preconstruction management services? Can you file a mechanic's lien if you aren't paid? In New York, it's a solid maybe.
Commercial Credit Management Tips for Notices & Liens
It’s part three of our Commercial Credit Management Tips! We've covered tips for Collections and UCCs. Today we wrap up with Notices & Liens.
Commercial Credit Management Tips for UCCs
It’s part 2 of our series of Commercial Credit Management Tips. Previously, we shared Collections tips, today let’s review UCCs.
Backup Documentation Can Make or Break Your Claim
Maintaining comprehensive and complete records can be a challenge. But, if you skip the back up documentation you risk your lien rights.
Louisiana Mechanic's Lien Changes Are in Effect
Let’s take a deep dive and review what you should know about the Louisiana mechanic's lien changes which became effective 1/1/2020.
Texas Construction: Public Projects Notices & Bond Claims
Furnishing to a public project in Texas? Well saddle up! Let’s review the notice and bond claim requirements for Texas public projects.
Pennsylvania Construction Notices & SCCM Numbers
Pennsylvania State Construction Notice Registry: what is a SCCM number? Why does it matter? Find the answers here!
Critical Question About Condominiums & Mechanic's Liens
Did you improve a unit or a common area? One of the most important questions if you need to file a mechanic's lien on condominiums.
Commercial Credit Management Tips for Collections
In this three-part series, we will review our favorite tips for Collections, UCCs, and Notices & Liens. Up first? Collections!
Arkansas Mechanic’s Lien and Bond Claim Rights
What do diamonds and Arkansas mechanic's liens have in common? If you are furnishing to an Arkansas construction project, this post is for you!
Personal Guarantees vs UCC Filings
In this NCS Extra Credit installment, Jerry Bailey (Executive Sales & Education Services Manager) compares personal guarantees and UCC filings.
Lien Right Consequences of Late Notices in West Virginia
What are the consequences to your lien rights if you fail to serve the notice for a West Virginia Mechanic's Lien on time? Find out here!
Mechanic’s Lien & Bond Claim Rights in Kansas
Are you furnishing to a construction project in Kansas? This post is just for you! Learn all about Kansas mechanic's lien & bond claim rights.
The Retail Bankruptcy Apocalypse
Retail bankruptcies are, without question, harmful to creditors. What can you do to protect your business from retail bankruptcy?
Fabricated Invoice Date Leads to Invalid Mechanic's Lien
Thinking of changing an invoice date to extend a lien deadline? It's tempting to alter the date, but don't do it. You could lose your lien.
What Information Should You Include In Lien Waivers?
Before you sign that lien waiver, are you sure it has all necessary info? Here's what information should be included in a lien waiver.
Healthcare Bankruptcies: A Financial Risk to Suppliers
Learn how creditors providing everything from basic office supplies to extensive operating room equipment have an opportunity to file a UCC to recover funds and repossess equipment.
Changes Ahead for Louisiana Mechanic’s Lien Rights
Louisiana’s 2019 legislative session included the passage of HB 203. Let’s review the calculation of mechanic’s lien deadlines.
Idaho: Lien & Bond Claim Rights in the Gem State
Today's post is a GEM! We'll review mechanic's lien and bond claim rights for construction projects in Idaho.
Rhode Island Mechanic's Lien Rights are Mighty
Rhode Island may be the smallest state in land size, but Rhode Island means business for mechanic's lien & bond claim filers.
Recap of Changes to Ontario’s Construction Lien Act
Over the last two years we have discussed the changes to Ontario’s Construction Lien Act. Here’s a breakdown of what you should know.
Canada: Provincial Construction & Your Payment Rights
A provincial project is the improvement of public works or building under contract made by the provincial government. Time for a bond claim?
Miller Act Bond Claim: Miss 1 Day, Lose $8M
Miss the Miller Act Bond Claim deadline by a day and lose the right to recover a claim amount of over $8M. Ouch!
Not a Secured Creditor? Aim To Be Critical Vendor
It's best to be a secured creditor. But, if you don't file a UCC or mechanic's lien, all hope's not lost - you could be a critical vendor.
Mechanic's Lien Rights in Alabama
“Sweet Home Alabama, where liens are so due” isn't as good as the original, but today's post about Alabama lien rights will make up for it.
It’s A 180 On The 180 Equipment, LLC Decision
Planning to attach the collateral description when you file your UCC? One creditor lucked out when the Court of Appeals ruled in their favor.
What's New in Mechanic’s Lien & Bond Claim Law?
Here are some key developments and changes to mechanic’s lien and bond claim laws in Illinois, Minnesota, Florida, and Oklahoma.
Public Projects and Preliminary Notices
Do you know there are 19 states that require a preliminary notice be served to protect bond claim or public improvement lien rights?
Legalities of Filing a Lien During Ongoing Projects
Can I file a mechanic's lien if I'm still furnishing to the project? Wish the answer were as simple as "yes" or "no."
Avoiding UCC Filing Pitfalls: Name Accuracy Tips
Filing a UCC? List the debtor's name exactly as it appears on the unexpired driver's license - except, in this case.
Illinois Mechanic's Lien and Bond Claim Rights
Are you furnishing to a construction project in Illinois? Today's post is all about Illinois mechanic's lien and bond claim rights.
Furnishing Labor and Performing Labor Are Different
Court of Appeals determined lien rights don’t extend to a party furnishing labor, because furnishing labor & performing labor aren't the same.
Construction Lienholder Group Wins in Bankruptcy
If ever there were a time in construction litigation for folks to put on their rally hats, it would be in the case of M & G USA Corp!
Legislative Changes in Tennessee: What Builders Need to Know
Are there changes ahead for mechanic's lien and bond claim rights in Tennessee? Let's take a look at what's in store.
The Three C's of Job Information
In this article, we will review the vital role of job information in protecting your mechanic’s lien and bond claim rights.
Virginia’s Mechanic’s Lien Form Has Changed
Virginia is for lovers of mechanic’s liens! Let's share the love & discuss the changes to Virginia’s lien form, in effect 7/1/2019.
EC: UCCs Have Priority Over 503(b)(9) Claims
503(b)(9) claims are no match for UCC filings! In bankruptcy, a properly perfected security interest, in compliance with UCC Article 9, has priority over unsecured creditors, creditors with...
Key Collection Questions & Important Documentation
These four collection questions can help you determine the best debt recovery plan for your business. Check it out!
Selling Fuel on Consignment? Don’t Forget to File a UCC!
Who has priority over the proceeds from consigned goods? Is it the bankruptcy trustee or the consignor of the goods?
Iowa Lien Attached to Building, Not Lessor's Property
Who is responsible for the costs associated with the construction of the facility, the lessor, lessee or both? Here's what Iowa Supreme Court says.
Unraveling the Mystery of Misleading UCC Filings
Who enjoys a good ol’ mystery game? Today’s mystery is why a Georgia Bankruptcy Court deemed one creditor’s UCC filing seriously misleading.
Is Mediation or Arbitration Best for Your Business?
Discover the key differences between mediation and arbitration. Learn which dispute resolution method suits your needs best.
Lien Dissolution Bond and Suit-To-Enforce Action
Learn what happened in one Massachusetts case when the lien claimant took steps to foreclose on the lien dissolution bond.
Check Out Our Top 10 Lien Waiver Questions
Lien waivers are one of the most popular documents within construction credit. We’ve compiled a list of the top 10 lien waiver questions.
Fiber Optic Networks: Can I File a Mechanic's Lien?
Here's a few things to keep in mind if you are furnishing to fiber optic networks and whether you may have lien rights.
Let’s Talk About Commercial Bankruptcy
The more you understand about commercial bankruptcy, the greater chance of preserving your rights and ultimately receiving payment.
Arizona Preliminary Notice Changes Coming December 2019!
Here's a quick review of the big changes come to the Arizona Preliminary Notices in 2019. You'll want to bookmark this!
Always Perform A Reflective UCC Search
While performing a reflective UCC search on a Pennsylvania filing, we identified issues with Pennsylvania’s records. Here's Jerry with a recap!
Do Your Collateral Descriptions Comply with Article 9?
Collateral descriptions can be a tricky business. Using a specific address in your description? Be extra careful!
Bond Claim Nitty-Gritties: The 5 W’s and 1 H
Here's everything you want to know about bond claims. Including the Who, What, Where, When, Why, and How - let's learn more!
Consignment Creditors, Give Back the Money
Consignment creditors in the Sports Authority bankruptcy have been dealt a crushing blow with the Court’s recent decision.
Advantages of Construction Attorneys in Litigation
Let's review a few key considerations when deciding whether you should hire a construction attorney for construction litigation.
Oklahoma’s Lien & Bond Claim Requirements
In this post we’ll review the steps needed to secure mechanic’s lien and bond claim rights in Oklahoma, the Sooner State.
Condominium Act Meets Construction Act in Ontario
Let’s continue our Ontario conversation today with a quick review of the intersection of Ontario’s Condominium Act and its Construction Act.
"Pay-If-Paid" Leaves Subcontractor High and Dry
In Alabama, a subcontractor can't recover its claim from the GC's surety if the subcontract contains a contingent payment clause (pay IF paid).
Digital Assets a General Intangible under Wyoming’s UCC
Wyoming is the first state to clarify the treatment of digital assets (bitcoin) under the Uniform Commercial Code.
Washington Liens: When Frivolous is Better Than Absent!
How does a late, excessive, inaccurate lien get reinstated? Well, it’s a story worth sharing! (Spoiler: because it's not a frivolous lien!)
Not-So-Peachy Mechanic’s Lien for One New York Landlord
According to a recent decision, enforcing a mechanic’s lien on leased property in New York does not require consent of the landlord.
Retainage, Payment Bonds, and Private Projects in Texas
Did you know, if you are furnishing to a private project in Texas, you may secure mechanic's lien AND bond claim rights?
Back to Basics: Two Primary Types of UCC Filings
Let’s review two basic types of secured transactions - Blanket and Purchase Money Security Interest (PMSI) - and the benefits of each.
Close Call with Terminated UCC Filing
In a recent bankruptcy case, one creditor squeaked by and maintained its secured position despite accidentally terminating its UCC filing.
Maine Mechanic's Lien & Bond Claim Rights
Here's everything you should know about securing mechanic's lien and bond claim rights in the most northeastern state, Maine.
P3s Created by Contract, Not Statute
Generally, a Public Private Partnerships (P3s) is an agreement between a private entity & public entity for the construction of a project.
Top 5 Reasons You Should File UCCs
Are reducing your DSO, mitigating risk and improving working capital not enough reasons to file UCCs? Good thing we have 5 more reasons! Including, how UCCs can help increase your sales and how you...
Is it a Bird? Is it a Rule? It’s a Cardinal Change Order!
Change orders are common. What’s the difference between a change order and a cardinal change order? Read on to find out.
Washington Mechanics Lien and Bond Claim Rights
Are you prepared to secure your Washington mechanic’s lien, stop notice, bond claim and public improvement lien rights? Learn more here.
Michigan’s Design Professional Lien Rights Amended
Michigan amended a portion of its Construction Lien Act regarding mechanic’s lien rights & procedures for design professionals.
Tennessee Lien Rights & Everything You Should Know
Securing mechanic’s lien rights on Tennessee projects can be a challenge. Let's break down the requirements & put you on the path to payment.
Time for Preparation, There’s No Rest Post-Recession
Be prepared for the next recession. Here's a few best practices you can implement to ensure you are prepared for the next economic downturn.
There’s No Ice Cream in Bankruptcy. Wait, What?!
In bankruptcy, we frequently hear terms like preference payment, claw back, and new value. What do these terms mean? Further, what do these terms have to do with ice cream?
Arkansas: You Can’t Lien a Property You Didn’t Improve
To file a mechanic’s lien in Arkansas, the lien must be filed against property you improved. Kind of feels like a face-palm moment, right?
Approve More Small Businesses for Larger Sales
Don’t leave money on the table as a result of no-hits and thin credit records on small businesses. With a comprehensive picture, you can issue higher credit limits and minimize your risk.
Which Bond is Which? Bond Types in Construction Credit
Is it a payment bond, performance bond, bid bond, contractor’s bond, prevention bond, discharge bond? And, who is a party to a bond?
Who’s on the Job? A Look at the Contractual Chain
What do you call the collective group of parties on a construction project? We often refer to the collective parties as the contractual chain or the ladder of supply.
Arbitration, Mediation, Lawsuit - What's the Difference?
Pros & cons of arbitration in construction disputes, plus the similarities and differences of arbitration and a lawsuit.
Blanket UCC Filings & Your Frequently Asked Questions
A Blanket UCC filing is a security interest in all the assets of your customer on a non-priority basis, eliminating potential conflict with your customer’s primary lender.
Mechanic’s Liens and Discharge Bonds
What do mechanic's liens, discharge bonds, and substitute teachers have in common? Check out today's post!
Louisiana Private Projects and Your Lien Rights
Here's a review Louisiana's requirements for the preliminary notice, mechanic’s lien, suit and even a bond claim.
UCCs Have Priority Over 503(b)(9) Claims
In this article, we review how 503(b)(9) claims & consignment agreements are no match for properly perfected UCC filings.
What To Do When You Can’t Get Change Orders in Writing
Change orders can be vital in supporting your claim. So, what can you do when a formal change order isn’t issued?
Montana Lien & Bond Claim Rights: What You Should Know
Furnishing to a construction project in Montana? Let’s take a look at the notice, lien, bond claim and suit requirements in Montana.
Don't Ignore Contractor Licensing Requirements
Be careful, don’t ignore contractor licensing requirements, because your mechanic’s lien rights may depend on it.
What Does It Mean to "File" a Lien?
Do you need to file a lien? Be careful, if a lien must be filed by a deadline, ensure the document is actually filed.
UCC-1 Collateral Description Reference Security Agreement
What happens when the collateral description in the Financing Statement says, “see attached Security Agreement,” but the agreement isn’t attached?
Perfecting UCC Collateral Descriptions
A security interest is nothing without a collateral description. Take care to craft your perfectly imperfect collateral descriptions.
Miller Act May Not Cover Unused Labor
We’ve previously discussed protections under the Miller Act, now let's look at something not covered under the Miller Act: unused labor.
Backup Documentation & Mechanics Lien Filing
Backup documentation isn’t just used for preparing a document. Never underestimate the value of backup documentation and your mechanic’s lien.
An Excessive Mechanic's Lien in Nevada
How much money makes a mechanic’s lien claim excessive or frivolous? According to one Nevada court, $1,371,187.44.
Notice of Non-Payment May Not Be Required in Louisiana
For material suppliers furnishing to public projects in Louisiana, one court decided notices of non-payment aren’t required.
New York Residential Projects & Your Lien Rights
In New York, the deadline to file a mechanic's lien on a commercial project is different than for a residential project. Learn more here.
Guide to Managing Mechanic’s Liens Across Multiple Sites
We are often asked whether a single mechanic’s lien can be filed on multiple buildings or parcels. The answer is: maybe.
South Carolina Lien and Bond Claim Rights
Furnishing to a construction project in South Carolina? Let's review mechanic’s lien and bond claim rights for projects in South Carolina.
Arbitration is Alternative Dispute Resolution
Arbitration, like mediation and adjudication, is a form of alternative dispute resolution and is typically favored in lieu of litigation.
UCC Filings, Key Words and Common Terms
In the spirit of “back-to-school,” today’s post is a UCC Article 9 vocabulary lesson. Break out your pencils and notebooks, let’s get started!
Mechanic’s Lien and Bond Claim Rights in U.S. Possessions
Did you know that you may have mechanic's lien or bond claim rights in Guam, US Virgin Islands and Puerto Rico? Let’s review!
Alaska Mechanic’s Liens and Bond Claims
In this post I will review the statutory requirements for securing lien and bond claim rights for projects in Alaska.
Protect Lien Rights: Who is Served Iowa Preliminary Notice
Mechanic’s lien rights are available on commercial and residential projects in Iowa, however, you should always serve a preliminary notice.
Name Change Could Jeopardize Your Security Interest
The accuracy of critical data, like your customer's name, within your UCC Financing Statement can make or break your security interest.
Progress Payments Have Stopped, Now What?
Progress payments are made as work progresses under a contract, but what if those payments stop? What should you do next? Learn more here.
A Demand to Commence Suit May Shorten Your Deadline
Did you receive a Notice to Commence Suit? Review the document carefully, because your deadline to file suit may be sooner than you think.
Retail Bankruptcy and the Impact on the Landlord
We’ve previously discussed what retail bankruptcies mean for creditors who supply inventory, but what about the landlord?
DIP Financing: What Is It? Who Provides It?
DIP Financing (DIP = Debtor In Possession): What is It? Who provides It? What impact does it have on UCC filings?
Serve a Mechanic's Lien on an Out-of-State Party
Need to serve a mechanic's lien on an out-of-state party? According to one case, you should serve the lien via certified mail with return receipt requested.
Retail Bankruptcies and Their Impact on Consigned Goods
Often, retailers obtain goods from various suppliers. Suppliers provide the goods on a consignment basis. So, what happens when there's a bankruptcy?
Are Pre-Construction Management Services Lienable?
A Court has determined “pre-construction management services” are lienable, but the claimant better be prepared to provide a clear, itemized statement of account.
Serving a PA Mechanic's Lien: Sheriff or Public Posting
In Pennsylvania, a mechanic’s lien be served by a sheriff. If the sheriff is unable to serve the lien, you should post the lien at the site.
Mechanic’s Liens and Bond Claims are a Right
If you have furnished to a construction project, you have a right to be paid. Mechanic's liens and bond claims are your security.
Subcontractor Granted New Hampshire Mechanic's Lien
Learn more about a New Hampshire court’s decision to uphold the subcontractor’s mechanic’s lien for $4,917,122.02
Waiving Bond Claim Rights Under The Miller Act
If you furnish to a federal construction project, and your contract includes a provision for claim resolution outside of the Miller Act, are you prohibited from pursing a claim under the Miller Act?
Unsecured Creditors in Retail Bankruptcy Lose Out
As a creditor, it is important to ask yourself “In what ways can our company mitigate risk in today’s volatile credit environment?”
Pennsylvania Strengthens Payment Act (CASPA)
Early June, Pennsylvania enacted amendments to its Contractor and Subcontractor Payment Act (CASPA). Learn more about the amendments.
UCC Filing Collateral Descriptions and Interpreting “And All”
Learn about a Missouri court's ruling on creditor priority in collateral. Focus on the impact of security interests at multiple properties.
Residential Construction Projects & Liens in New Jersey
New Jersey is one of 17 states with mechanic’s lien statute specific to residential projects. Learn more about securing your rights.
Court Says It's a Ripe Claim Under the Miller Act
If you are pursuing an administrative claim, do you have to wait to pursue a Miller Act Bond Claim? The court says it's ripe to review!
Adjudication and Ontario’s Construction Lien Act
Amendments to Ontario’s Construction Lien Act go into effect in July 2018 and October 2019. In today’s post we are going to discuss adjudication.
Secretary of State Errors and Your Security Interest
What happens if you comply with Article 9 and take the proper steps to perfect your security interest, only to have the Secretary of State make an error?
Promises Won’t Bring Massachusetts Lien Back
In Massachusetts, a project owner promised to pay its subcontractor, so the subcontractor allowed its suit deadline to expire.
Value of Salvaged Materials Increased Contract Amount
Can the resale value of salvaged materials from a demolition site be included in the total contract amount and subsequently be lienable? According to one legal decision, yes.
New Regulations under Ontario’s Construction Lien Act
Ontario’s Construction Lien Act changes go into effect July 1, 2018. Ahead of these changes, Ontario’s legislature has released new regulations to help clarify the changes.
Convenience of Prevenient Arrangements and a Text Message
A prevenient arrangement occurs when parties enter “…into an ongoing relationship for the supply of services or materials over time, often at multiple locations.”
Security Interests in Liquor Licenses OK in Pennsylvania
Yes, creditors can take a secured interest in a debtor’s liquor license in Pennsylvania, according to one recent Bankruptcy Court decision.
Pass-Through Claims and The Severin Doctrine
In construction, a pass-through claim is when one party makes a claim on a second party’s behalf. What does it have to do with Severin Doctrine?
UCCs and Liens Make Your Company a Payment Priority
Businesses prioritize how, when and which vendors are paid and often pay secured creditors ahead of unsecured creditors. But why?
Substantial Completion, Completion and Acceptance
A supplier’s suit was untimely, because it failed to comply with filing suit within one year from substantial completion of the project.
Securing Mechanic’s Lien Rights in Wyoming
Here’s everything you didn’t know you should know about securing mechanic’s lien rights on projects in Wyoming.
Changes to Ontario's Construction Act
The review of Ontario’s Construction Lien Act (Act) began in February 2015 and in August 2016 the review committee presented its recommendations for improving the Act, which we've previously...
Lien Should Be Filed by Registered Entity
A construction lien can be invalidated if the lien claimant isn't registered with the Secretary of State or comparable agency.
Can a New York Mechanic's Lien Be Filed Too Early
The Court reviewed and found the lien was not served too soon & the claimant’s lien would remain valid. But, what’s “too soon” in New York?
Federally Funded Does Not Mean Federal Project
“The U.S. Government funded this construction project, so it’s a federal project, right?” The answer is: not necessarily.
How to Handle Suit When Mechanic’s Liens Expire
What happens after a mechanic's lien is filed? You should understand Suit to Enforce your claim, because mechanic's liens don't live forever.
New Legislation for Ontario's Construction Act
Broad changes ahead for Ontario’s Construction Act. A high-level look at some key changes including the extension of the lien & suit filing periods.
Top 3 Mistakes Collectors Make According to IACC
What are the top 3 mistakes made when calling on past due accounts? Poor documentation & communication are the top 2.
Register Operator’s Liens with a PPSA
Executing an Operator’s Lien? Make sure to register it with a PPSA. Learn how one creditor lost its priority for failing to comply with the PPSA.
Don’t Gamble with Your Lien Rights in Nevada
Mechanic’s lien rights are afforded to those furnishing to Nevada construction projects, if you adhere to the statutory requirements.
Massachusetts Mechanic’s Lien in a Bankruptcy
If a party files for bankruptcy in Massachusetts, ensure your mechanic’s lien filing is not in violation of the bankruptcy code.
Carefully Review Settlement Agreements
Settlement agreements are common. You must carefully review the agreement or you may end up with invalid liens, like this subcontractor.
Is “Final Payment” Written on the Check?
Checks are monetary agreements and should be treated with care. If you receive payment, and there are conditions or terms within the payment, seek legal guidance.
Filing a UCC to Perfect Your Security Interest
In a fight for priority, a creditor claimed it had valid security. Unfortunately, the creditor did not list the debtor’s name correctly on the UCC.
Bond Claim and Stop Notice Rights in California
Bookmark this post; here’s everything you should know about securing bond claim and stop notice rights on public projects in California!
Form for Registering Liens on Leasehold in Alberta
Registering a builders’ lien in Alberta? Correctly identify and notify all parties within the ladder of supply, and ensure the form is completed in its entirety.
Compliance with UCC Article 9-503 and Alternative "A"
Filing a UCC on an individual? It is critical that you comply with Article § 9-503(a): The Financing Statement must list the debtor’s name as it appears on the debtor’s unexpired driver’s license.
Secured Creditor Bumped to Unsecured Status
Strict compliance with Article 9 is imperative. Article 9-503(1) clearly states the debtor’s name must be identified as it appears on the public organic record.
Is Pay-if-Paid Enforceable in Kentucky?
Is pay-if-paid enforceable in Kentucky? According to one recent Supreme Court decision, yes. Learn more when you ready this post.
New York Lien Discharged by Bond
What happens if a payment bond is substituted for the mechanic's lien? According to one recent court opinion, lien deadlines still apply.
You Need a Preliminary Notice Program
You need a Preliminary Notice program, not a Mechanic's Lien program. Download this resource to learn more about how a Preliminary Notice program will improve your DSO, improve your cash flow &...
Free Forms Online - Proceed with Caution
Using an online form to secure your mechanic's lien rights? Be careful! And make sure the documents meet statutory format & content requirements.
Prompt Payment: Which Applies, State or Federal Statute?
In Arizona, prompt payment statute states a project owner should remit payment to the GC within 7 days after the approved billing cycle.
Residential Projects & Mechanic's Lien Rights
If you are furnishing to a residential project, review preliminary notice & mechanic’s lien requirements carefully.
Heard about the NCS OnDemand Webinar Series?
In this NCS Extra Credit installment, Pete Pozzuto (Business Development Representative) discusses the NCS OnDemand webinar series.
UCC Filings and Defaults & Remedies
Our final section in this series covers Default & Remedies under Article 9. What is default? What remedies are available? Read on to learn more
Learn More about Bankruptcy Search & Monitoring
In this NCS Extra Credit installment, Pete Pozzuto (Business Development Representative) discusses Bankruptcy Search & Monitoring.
Substantial Compliance with Florida Lien Law
Would-be mechanic’s lien claimants shouldn’t mess with Florida! Florida statute is concise and there is little room for error.
UCCs & Priority of a Security Interest
Who has priority? Are there exceptions? Learn more in part 4 of our secured transaction series, where we review Priority under Article 9.
The Critical Role of Furnishing Dates in Lien Rights
A key to properly calculating mechanic’s lien and bond claim deadlines is knowing your first & last furnishing dates.
Who Owns the Improved Upon Property?
Filing a mechanic's lien? Take the time to confirm property ownership, and if applicable, serve the registered agent for the owner.
EC: All Inclusive Public Records Search
In this NCS Extra Credit installment, Pete Pozzuto (Business Development Representative) discusses the All Inclusive Public Records Search.
UCCs & Perfection of a Security Interest
What is perfection of a security interest? Learn more about perfection, the Financing Statement, and where to file the Financing Statement.
Serve Your Mechanic’s Lien in Accordance with Statute
Just as with notice requirements, lien statute varies by state, which means the required method(s) for service of the lien can vary.
Can Your Mechanic's Lien Rights Be Waived?
We are often asked whether a waiver of lien rights clause can be incorporated within a contract and whether it's enforceable.
Is a Contractor's License Required to File a Lien?
As if mechanic’s lien laws aren't complicated enough, you must also understand and adhere to the licensing requirements for each state.
Conveying Security Interest via UCCs
Conveying a security interest under Article 9? Learn more about attachment, the security agreement, and the rights & duties of the secured party.
When Space & Noise Impact UCC Filings
Clients frequently ask us, “Does an extra space or added punctuation in my customer’s registered name really matter?” For UCCs, it might!
Owners Can Bond Off Liens & Contest Frivolous Liens
An exaggerated lien could be deemed a frivolous lien. Here's a reminder that a lien claimant needs to have documentation to support its claim.
How to Avoid Invalidating Your Mechanics Lien
If you take the time to file a mechanic’s lien, don’t squander your security. Make sure you follow through with subsequent legal requests.
Despite Disputes, Release Retainage
Retainage is an agreed amount of a contract price that is retained by one party from another, with an assurance that the party will be paid once the job is completed.
Serve Notices via Certified Mail
We always recommends serving preliminary notices via certified mail with return receipt requested. The additional cost to add “return receipt” is significantly less than potential court costs & time...
Payment Bonds Can Be Conditional Too
Are you furnishing to a private Florida project where a payment bond has been issued? Then you should take a few minutes to read this.
UCC Introduction and Scope of Article 9
Article 9 includes consensual security interests in personal property and fixtures. Learn more about what's included, what's excluded, and collateral.
What is a Notice of Intent to Lien?
A Notice of Intent is a statutory notice, required in many states, to be served prior to filing a mechanic’s lien.
The Miller Act & Your Bond Rights in Tribal Construction
Explore the nuances of bond claim rights in tribal construction projects without Miller Act protections. Safeguard your interests today.
Correctly Identify Your Customer on PPSAs in Ontario
Registering a PPSA in Ontario? Then you know the importance of correctly identifying your customer. According to the PPSA, you should identify your debtor by its English and French names.
Timely Amend Your Proof of Claim
We’ve discussed bankruptcy proof of claims before, but today we are reminded just how vital accuracy is when filing a proof of claim.
3-in-3: Payment & Performance Bonds
A payment bond is a valuable risk-reducing tool for creditors furnishing materials and/or services to construction projects.
Can a Mechanic's Lien Be Avoided in Bankruptcy
If you have concerns about a project you are furnishing to, or a party within the contractual chain filing bankruptcy, you may want to take an extra step and confirm statutory guidelines for the date...
Four Signs Your Customer May Be in Financial Distress
Don’t expose your AR to any unnecessary risk. Business failure is inevitable. Your best defense? Be proactive. Take advantage of secured transactions and pay attention to signs of distress.
3-in-3: Taking a Secured Interest in Canada via the PPSA
Supplying to Canada? Diane Toth, UCC Specialist, discusses more about the similarities and differences of the UCC and PPSA.
Florida's Construction Lien and Bond Claim Deadlines
Navigate the complexities of Florida lien bond claim deadlines with our expert insights. Access vital information to protect your interests.
Introducing the Debtor Payment Portal
In this NCS Extra Credit installment, Pete Pozzuto (Business Development Representative) discusses the Debtor Payment Portal with Jerry Bailey (Executive Sales and Education Services Manager).
8 Things to Know about Michigan Construction Liens
Contractors, subcontractors, and material suppliers furnishing to private construction projects in Michigan. Learn your lien rights!
21 Essential Facts About New Jersey Lien and Bond Claims
There are 21 counties in New Jersey, so here's 21 important facts and features of lien and bond claim rights in the state of New Jersey.
The Advantages of Secured Collections
In this NCS Extra Credit installment, Pete Pozzuto (Business Development Representative) discusses the advantages of secured collections.
3 in 3 Using the PMSI UCC to Get Paid
Many clients successfully leverage their security interest to repossess their inventory or equipment. Read this post to learn more about how you can utilize the PMSI UCC to get paid.
A Guide to Securing Lien Rights in Arizona: 5 Key Tips
Learn about Arizona's preliminary notice, when you need to amend the notice when to serve your mechanic's lien & a bonus on the stop notice.
Fixture UCC Filings for Creditors in Hospitality
Learn essential insights on fixture filings for creditors in the hospitality industry, and how to protect your interests.
Can Filing Too Soon Invalidate a California Lien?
In California, the mechanic’s lien deadline, for prime contractors, is calculated based on the completion of the contract.
The Important Role of PMSI UCC Filings in the Foodservice
Want to reduce risk when supplying to the food, beverage & hospitality industries? Learn more about PMSI UCC filings and their role in securing creditors.
Bonding Off Mechanic’s Liens: A Comprehensive Overview
In Washington, who do you sue when a bond has replaced a mechanic’s lien? In today’s case, you would pursue the surety.
3 in 3 Bankruptcy Proof of Claim
What is a bankruptcy proof of claim? What should creditors be aware of when filing a claim? Is there a deadline to file? Find answers here.
Foodservice Industry & the Importance of Blanket UCC Filings
60% of restaurants fail within three years and few survive beyond five years. Protect your company with UCC filings!
Alternative A in Action and Your UCC Filings
Use caution when identifying your customer on the UCC filing. If it’s an individual, carefully list their name exactly as it appears on their unexpired driver’s license.
Pennsylvania Mechanics Lien, Manner of Service
There have been changes to Pennsylvania’s mechanic’s lien statute. The state has instituted a construction notice directory, but implementing this directory does not change the requirements for...
Are Mechanic's Lien Rights Available on Wind Turbines
A recent court of appeals decision left one Illinois subcontractor with over $3 million in unpaid claims, and the construction and alternative energy industries with immeasurable concern and doubt.
How to Ask Customers About Their Past Due Invoices
Struggling with past-due invoices? Learn how to ask customers, ensuring better communication and improved payment processes.
Standby Letter of Credit Shows Willingness & Ability to Pay
Learn the essentials of Standby Letters of Credit & how banks provide guarantees for payments, ensuring security in financial transactions.
You Can't File a Mechanic's Lien Against a Bridge
You can burn bridges, you can cry a river and build a bridge to get over it, you can even sing songs about bridges falling. But, you can’t place a construction lien on a bridge.
Lien Waivers - More than Paper
Lien Waivers are common in construction credit & one of the most misunderstood and misused documents. In this infographic, we review the four primary types of waivers, identify which states have...
3 in 3 Mechanic's Lien Rights on Leasehold Interest
Today’s 3-in-3 features Notice & Lien Specialist, Keely Bindas. Read on to learn more about mechanic’s lien rights on leaseholds.
Owner Failed to Pay the Contractor
Explore the complexities of mechanic's liens in construction disputes. Learn how a project owner's appeal impacts contractor rights and fees.
What Are Standby Letters of Credit?
A Standby Letter of Credit is a written guarantee, issued by a bank, to pay on behalf of their customer in the event their customer does not pay. Review this infographic to learn more about Standby...
Default and the UCC
Companies default, it happens. Fortunately, you are a brilliant creditor who has filed a UCC to protect your receivable! But, what do you do now? In this infographic, we'll review steps you can take...
3-in-3 on Lien Waivers
Waivers today are more formal and more complex and it’s very important to know exactly what you’re signing before you sign it.
EC: Proof of Delivery & Bills of Lading
Did you know, failure to obtain and save copies of these documents can jeopardize your position as a secured party? Without proof that your materials made it to your customer or the job site, a judge...
A Surety's Perspective on Public Private Partnerships
So, how does the surety industry view Private Public Partnerships (aka P3)? This precise question is answered in an article from Engineering News-Record (ENR).
Ontario Construction Lien Act - Bonds
We’ve previously discussed the review of Ontario’s Construction Lien Act and today we’d like to briefly review the recommendations for how surety bonds could be handled under the Act.
Maryland Mechanics Lien Rights Are Just Ducky
Furnishing to a construction project in Maryland? Be cautious when securing your mechanic’s lien rights - and keep in mind, lien is suit.
How to Prepare for Your UCC Filing in Florida
Discover essential insights before filing your own UCC Filing in Florida. Learn the importance of reviewing your filings to ensure accuracy.
A Material Supplier Wins in Recent Nevada Decision
It’s a win for the material supplier! A recent court decision invalidated an unconditional lien waiver when the subcontractor’s check to the material supplier failed to clear.
The Fundamentals of the Preliminary Notice
Items covered in this article include a brief history of the mechanic’s lien process, the importance of job information, the value of the Notice of Commencement, various preliminary notice...
Should I Amend My Preliminary Notice?
Contract amounts, purchase orders, delivery dates etc., can change during a construction project and you may need to amend your preliminary notice.
Credit Survival Guide: UCC Filings
Filling inaccuracies and unreported changes to name, address, or organizational structure can jeopardize the security of your UCC filing.
Can Laborers File a Mechanic’s Lien in Washington?
In this case, the court of appeals affirmed those providing labor to a construction project have the right to utilize a mechanic’s lien.
Credit Survival Guide: Proof of Claim
Your customer has filed for bankruptcy protection and their outstanding balance could have a significant impact on your A/R. Now what do you do?
Is the Subcontractor’s Foreclosure Action Out
In Utah case, the owners tried to contest the validity of the subcontractor’s foreclosure action, but ultimately struck out.
Today’s 3-in-3 Topic is: UCC Filings and Consignment
Read on to learn more about consignments and how UCC filings can secure consignments and reduce your risk.
What is the Right UCC Filing?
Today’s 3-in-3 features Cindy Bordelon, Manager of our UCC Services, and her recommendations for determining the appropriate UCC filing.
Florida: Serving a Notice to Owner
This post is dedicated to serving preliminary notices in Florida and includes pertinent deadlines and requirements.
What Should I Know About Attorney Collection Expenses?
We discuss expected attorney collection fees. Learn about attorney collections, fees, and recovery options for court costs and suit fees.
Bond Claim Rights on Louisiana Public Projects
Are you furnishing to a public project in Louisiana? Let this case be a lesson of the importance of strictly adhering to deadlines!
Understanding Bankruptcy Claims and Periods
Bankruptcy claims and periods include 503(b)(9), reclamation claim period, proof of claim, and the preference period.
Assessing and Reinforcing Litigation in Mexico Part 3
The last piece of the puzzle is all about reducing risks and raising your chances of success. This comes while confirming that you have a good quality case with moderate risks.
What Is a Trapping Notice?
Some states may allow you do to a late notice, but the notice may only trap from a certain period forward - hence, a Trapping Notice.
What is a Demand to Commence Suit?
A demand to commence suit is a notice served upon the lien claimant that requires the claimant to proceed with enforcing their claim or the lien will be vacated.
Public Project Bond Claims: When the Owner is Your Customer
Are you furnishing to a public project? Is your customer the project owner? A typical mechanic’s lien and bond claim rights will not apply!
The Tale of Two Rivals: Sales and Credit
If you are a credit professional, you have likely worked with sales folks who can’t seem to get you the information you need - despite how loudly and persistently you ask.
Learn More about Contingent Collections
A contingent collection means you only pay a contingency fee on the amount of money that is collected. Learn more in this post.
UCC Filings: Fixture Filings 101
Today’s post is a 101 on fixtures and fixture filings as they pertain to Article 9 of the Uniform Commercial Code.
What Should Vendor Do When Customer Files Bankruptcy
If you’ve taken precautions to position yourself as a secured creditor and your customer files for bankruptcy, what should you, as the vendor, do?
Assessing and Reinforcing Litigation in Mexico Part 2
Once you have confirmed that you have a case worth considering based on costs and rewards, you have to assess the risks associated with your action to determine the likelihood of success.
Importance of Correctly Identifying Debtor
The proper spelling of a debtor’s name on a UCC Financing Statement is a fervently litigated issue. Download this whitepaper to learn more about the impacts of seriously misleading, standard search...
Recovery Options for Secured and Unsecured Creditors
Whether you are a secured or an unsecured creditor, slow-paying and non-paying customers are frustrating, time consuming, and often costly.
Protecting Lien Rights on Arkansas Residential Projects
If you furnish materials or services to a private project in Arkansas, make sure you know whether it’s considered residential or commercial, as there are varying notice requirements.
Assessing and Reinforcing Litigation in Mexico Part 1
The fact is that not all claims are candidates for litigation. A plaintiff (especially foreigners), under many situations may find that the Mexican legal system, with all its problems and nuisances,...
A Lesson in Last Furnishing Dates and Lien Rights
Determining the last furnishing date has proven to be tricky for claimants under the mechanic’s lien and bond claim statutes for a LONG time.
UCC Continuation Rejected? Now What?
Discover the reasons for UCC continuation rejections. Our blog provides insights and tips to improve your chances of approval.
The Pitfall of Not Filing a Notice with the Utah SCR
Fail to file the notice and a claimant’s rights under the mechanic’s lien and bond claim statutes could go right out the window.
Best Practice Credit Reports
Obtaining a credit report on the correct entity can be trickier than you’d expect. Here are a few tips on obtaining the correct credit history/information for your customer.
Consignment UCC Filing: A Crucial Aspect of Bankruptcy Law
A company selling on consignment takes an unnecessary risk when it forgoes filing a UCC-1 Financing Statement.
Importance of Complying with Arizona State Lien Laws
Learn the importance of understanding Arizona's state lien laws. Our blog offers valuable tips to help you comply with legal requirements.
Bankruptcies in the Oil and Gas Industry
Although low oil prices are great for me at the pump, they are lousy for the oil and gas industry. Oil companies are filing bankruptcy and suppliers, secured & unsecured, are feeling the pain.
Here’s What Wikipedia Can’t Tell You About Collections
Don't use Wikipedia to determine mechanic’s lien/bond claim deadlines, the steps for filing UCCs and even for best practices on collecting past due receivables.
Filing UCCs: Tips for Secured Parties
Article 9-507(c) of the UCC provides the secured party with a four month window to amend a UCC filing if the debtor’s name changes:
What is a Public Private Partnership (P3)?
By now it is quite likely you are familiar with, or at least heard of, public-private partnerships; also known as “P3” or “PPP”.
Gootee Construction v. Atkins Could Impact Your Bond Claims
Filing before project acceptance is crucial. Learn the impact of the Gootee Construction v. Atkins ruling on Louisiana bond claim deadlines.
Mechanic's Liens: Understanding Ship and Delivery Dates
Furnishing dates can make or break your rights to file a mechanic’s lien or serve a bond claim. Should you use a ship or delivery date?
Learn From JP Morgan'sBillion Dollar UCC Mistake
After all, accidentally terminating a UCC filing made JP Morgan an unsecured creditor - a $1.5 billion unsecured creditor.
Expected Payment and Expiring Lien Deadlines
All parties supplying materials or labor to a construction project should take the steps to secure mechanic’s lien and bond claim rights.
California Lender Search: a Best Practice
Perform formal searches on any party required to receive a copy of a notice. This goes for liens/bond claims too – you should always confirm the parties within the ladder of supply.
Articles of Incorporation & Their Importance for UCC Filings
Articles of Incorporation are important because even states make mistakes when indexing entities (more often than you’d think).
2016 Changes for Securing Pennsylvania Lien Rights
Pennsylvania's new notice procedures for qualifying projects take effect when the Construction Notices Directory launches (2016).
Ontario PPSA Amendments
The 2006 amendments to Ontario’s Personal Property Security Act (PPSA) are set to become effective by the end of the year.
California 20 Day Notice
If you're furnishing to a construction project in California, you should serve the preliminary notice within 20 days from first furnishing. However, there are nuances.
NTO-Phobia: the Fear of the Preliminary Notice
A preliminary notice (sometimes referred to as a Notice to Owner (NTO) or Notice to Customer), shouldn’t upset anyone, especially if the intent of the document is properly explained.
What is a Notice of Termination of Notice of Commencement?
Explore the Notice of Termination of Notice of Commencement. Understand its role in construction projects.
Can Supporting Documentation Make or Break Your Claim?
Maintaining documentation is important - not only for proceeding with secured transactions, but simply as a good business practice.
A Primer on the Primary UCC Forms
1, 3, 11… Confused counting? Of course not, silly, these numbers identify the various types of UCC filings under Article 9 of the Uniform Commercial Code (UCC).
Joint Check Agreements
A Joint Check Agreement is an agreement between multiple parties, allowing one party to make payment through a check issued to two or more payees. Joint Check Agreements are an excellent risk...
Competitive Advantage of UCC Filings
A UCC filing can do more than protect your inventory, equipment, and receivables. Properly perfected UCCs can reduce your risk and give you the opportunity to expand your market share, by providing...
UCC Filings an Ounce of Prevention
Extending credit is inherently risky, which is why credit professionals take appropriate steps to qualify customers. Credit professionals should not overlook the immense value of a properly perfected...
Carelessness is Worse Than a Lien Waiver Thief
A subcontractor discovered the high price of carelessness when the court honored executed unconditional lien waivers and vacated it's lien.
Reduce the Need for Collections with Liens
A preliminary notice is a low cost proactive alternative to the reactive high cost and high stress associated with collections. It pays to be proactive.
Navigating Preliminary Notices on Leased Property
If you are furnishing to a property that is being leased, both the fee owner and the tenant should be served with the notice.
Blanket v. PMSI
There are primarily two types of secured transactions under Article 9 of the Uniform Commercial Code: Blanket Filing and Purchase Money Security Interest (PMSI) Filing. Both filings can protect your...
Lien Waiver Language: Unconditional
Unconditional lien waivers can be dangerous if blindly signed, as the signor is waiving all rights to further remedy regardless of whether or not payment has cleared.
Creditor's UCC Collateral Description Mistake
Article 9's provisions for creditors to list collateral as "all assets" & importance of comprehensive descriptions in Security Agreements.
Is Art Worth More if a UCC-1 is Never Filed
A consignment agreement itself is not enough – it is best to file a UCC with the consignment agreement to create a security interest in the goods.
Lien Waiver Language: Conditional
Conditional lien waivers are preferred, because the “conditions” provide the creditor with leverage, in the event payment is not received or does not clear.
Beginners Guide to Demand Letters
Download this whitepaper to learn more, including the demand letter differences for UCCs and mechanic's liens, plus a FREE demand letter sample!
Leverage Your UCC Filing in the Collection Process
Leveraging a UCC filing in the collection process is significantly more effective than attempting to collect without any leverage.
Supply House? You Can Use the UCC to Get Paid
Supply houses often overlook a powerful tool when trying to get paid. The UCC can be a faster and more effective collection tool.
Complying with the Michigan Notice of Commencement
Typically, the Notice of Commencement contains the vital information necessary for inclusion into the preliminary notice.
Sometimes Substantial Compliance is Enough
Mistakes happen – best efforts are made, and an appeals court recently decided best efforts were enough to recover through the lien process.
Include a Proper Estimate in Preliminary Notice
Even a small mistake in a preliminary notice can greatly hinder your chances of recovery. Make sure to include a proper estimate in your notice.
Hip Hop and Credit Management
If you had 30 seconds to give a credit professional advice on reducing risk, what would you say? Secure your A/R with UCCs and Liens.
9 Documents Every Collector Should Have
Collecting a past due receivable can be difficult, but if your collector has the necessary documentation, debt recovery becomes easier.
Failure to Name True Owner Invalidates Lien
When a party fails to name the true owner in the notice of intent to file a lien, what happens to the validity of the mechanic’s lien?
UCC Article 9 & the PPSA: Vesting Assets in Australia
Many creditors (often being sellers or consignors of goods) register a UCC-1 Financing Statement under U.C.C. Article 9 (called "Article 9") against their debtors. A UCC is typically filed, so that...
Debtor's Business and Your UCC Filing
Your UCC filing acts as a lien on the business, therefore, before title passes from one party to another, the lien should be acknowledged & either settled or renegotiated.
The Carmack Amendment
The court was tasked with determining whether a supplier had to file multiple liens for materials provided to a mixed use, two phase project.
Full v Unpaid Balance Lien States
When securing your mechanic’s lien rights, it’s not enough to file your mechanic’s lien by the statutory deadline. It is also important to know whether you are filing a mechanic’s lien in a state...
RUG: Secured Transactions in Mexico
Mexico instituted amendments to their secured transaction law. These amendments better align Mexico’s secured transactions with UCC Article 9.
Payment Bonds vs. Performance Bonds
A payment bond is a promise of payment and a performance bond is a promise of performance. Learn more when you read this post.
Lien Waivers
Lien Waivers are common in construction credit. Lien Waivers are also one of the most misunderstood and misused documents in construction credit. It is crucial for credit professionals to understand...
The Importance of Filing Your PMSI Timely
Always file your PMSI at the time the security agreement is executed. The UCC has no impact on your customer’s credit or day to day operations.
Demand Letters and UCC Filings
The demand letter is often overlooked as a collection tool for UCC filers, but it can be a cost effective alternative to the processes of repossession or litigation.
Demand Letters and Mechanic’s Liens
Demand letters can expedite payment, allow you to maintain control of your collection process and save you money.
Supplying Rental Equipment to a Construction Project
Are you furnishing rental equipment to a construction project? You may be entitled to mechanic's lien & bond claim rights. Learn more here!
Two Questions to Ask Before Releasing a Mechanic's Lien
Once you have made the decision to file a mechanic’s lien, the next decision you will need to make is when to release the mechanic’s lien.
The Benefit of UCC Filings
A Security Interest or UCC filing elevates the status of your receivable and/or inventory/equipment to that of a secured creditor.
Problems with Preliminary Notices
If the first step in securing your rights (serving a preliminary notice) isn’t a solid step, you may find yourself with an invalid mechanic’s lien and unpaid claim.
Top 5 Mistakes in Security Agreements
In an earlier post we discussed drafting a security agreement, now let's review the common mistakes in security agreements.
Utah's State Construction Registry (aka SCR)
Since 2005, Utah has managed preliminary notices, notices of commencement and notices of completion via its State Construction Registry (SCR).
Collectability of an Unsecured Collection
When you are evaluating the collectability of account, we recommend you use the following questions to help you determine the likelihood of a successful collection.
If or When, Contingent Payment Clauses
Both pay-if-paid and pay-when-paid are contingent payment clauses. If/when they're included in a contract, could determine whether you get paid.
The 4 Primary Types of Lien Waivers
Project owners often require lien waivers from contractors, subcontractors & suppliers to alleviate the possibility of mechanic’s lien filings.
Federal Construction Projects & The Miller Act
The Miller Act is the federal payment bond statute that requires GCs to furnish payment bonds on projects contracted by the United States.
Lien Rights on Wind and Solar Farms
It takes multiple contractors, subcontractors & material suppliers to successfully build one energy farm: unfortunately this also means there are multiple opportunities for payment issues. Special...
Prelien Notice Mistake Invalidates Mechanic’s Lien
An example of how one contractor lost its mechanic's lien rights because its preliminary notice failed to meet the requirements outlined by statute.
How To Find a Construction Law Attorney
Hiring an attorney, a new vendor, should be very similar to the way you hire employees and qualify customers for credit.
North Carolina Notice to Lien Agent
The mechanic’s lien law in North Carolina experienced a rather large change in April 2013: the introduction of the Lien Agent.
Protect Your Consignment Sales
If you allow customers to hold goods under a consignment agreement prior to the sale, you are at risk of losing your rights in the goods.
Recovery via Judgment Liens
In a perfect world a mechanic’s lien and/or judgment lien filing will get you paid, but the reality is that recovering monies secured by any instrument can take time.
Serve Notice After First Furnishing
Preliminary notice deadlines vary by state. Did you know some states require the preliminary notice to be served after you begin furnishing?
UCC Filing Myths and Default Facts
You know that risk mitigation is an ongoing endeavor. Once you decide to extend credit to your customer, you need to ensure you are a secured creditor. Implementing basic credit management remedies,...
Accurately Indexed UCC Filing
Obtaining a reflective search is the best practice to make sure the UCC Financing Statement has been indexed accurately.
Bankruptcy Payout Priority - Secured Creditors Make Bank
Although there are no guarantees, time and time again we see secured creditors receiving more funds than unsecured creditors.
What is Subordination?
Subordination is “the process by which a creditor holding a priority debt agrees to accept a lower priority for the collection of its debt in a deference to a new debt.”
Small Mistake High Price in Mechanic's Liens
A New York court issued a decision which highlights the high costs of seemingly minor technical mishaps in the filing of a mechanic’s lien.
What Are Joint Check Agreements?
A Joint Check Agreement is an agreement between parties, allowing one party to make payment through a check issued to two or more payees.
Debtor Name Errors in UCC Filings
When preparing a UCC filing, minor deviations in the name of the debtor can prevent a security interest from being perfected.
No Preliminary Notice? No Mechanic's Lien for You
Did you know, failing to serve the requisite prelien notice in a state where it is required can invalidate your mechanic’s lien?
Past Due Accounts and Commercial Collections
How can you make the collections process less painful for your credit team? Why is it important to partner with the right agency? Answers here.
What is a Bond Claim?
What is a bond claim? Whose bond are you going to claim against? Can you only claim against a bond if it is a public project?
Crafting a Perfect Security Agreement for Your UCC Filing
Properly perfecting a security interest under UCC Article 9 is an art form. Make sure all required information is included and accurate.
Customer Defaults? Your UCC Filing Can Help You Recover
Congratulations, you filed a UCC to position yourself as a secured creditor! Unfortunately, your customer has defaulted on payments. Now what?
Liens on Funds, Stop Notices, and Public Improvement Liens
A Lien on Funds (aka a stop notice or public improvement lien) stops the flow of funds on a project until it can be shown you've been paid.
Articles of Incorporation: Not Just for Name Verification
Do you know that if your customer changes their name you must amend your UCC filing or your security is jeopardized? Learn more here.
Understanding Furnishing Dates and Lien Deadlines
Understand first furnishing, last furnishing, and completion dates to secure your lien rights and better understand lien deadlines.
Impact of Accurate Debtor Names on UCC Security
The proper spelling of a debtor’s name on a UCC filing is one of the most fervently litigated UCC issues. Sometimes the mistakes are costly.
Critical Role of Preliminary Notice in Mechanics Liens
This case illustrates how a simple mistake, due to confusing language in statute, can lead to losing your mechanic's lien rights.
Collateral Description in UCC Filings: a Case from Tennessee
Explore the nuances of collateral descriptions in UCC filings through a Tennessee case, focusing on its implications for accounts receivable.
Notice to Commence Suit and Summons & Complaint
The Summons and Complaint is a legal action which requires all lien claimants to join in the foreclosure action within a specific time frame.
Importance of Monitoring Debtor Name Changes on UCC Filings
Did your customer's name change? You have 4 months to amend the UCC filing to maintain compliance under UCC Section 9-507(c).
Complexities of Preliminary Notice Service in Construction
Missing this step could render your mechanic’s lien or bond claim unenforceable: proper service of the preliminary notice.
The Importance of Filing a UCC with Secured Possessions
A case involving Schwinn Cycling and Fitness, Inc.*, is a great example of why you should file a UCC even if your security interest is temporarily secured by possession.
Filing a Bankruptcy Proof of Claim as a Secured Creditor
The Proof of Claim is filed by creditors, in order to notify the bankruptcy court there is money owed to them by the debtor.
How to Avoid Invalidating Your Lien with Proper Notices
Don't lose your lien rights for failing to meet the statutory requirements. Learn how one material supplier's mistake cost over $100K.
Debtor Name Changes Under UCC Article 9
As all secured creditors know, maintaining perfection of their security interests is essential to ensuring priority over other claimants and to the survival of their interests in bankruptcy. The most...
In our recent online services poll, we asked: What do you consider your biggest challenge as a credit professional?
