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NCS COVID-19 State and County Updates
September 21, 2020
A review of the mechanic’s lien document, via LienFinder™, confirms one general contractor is owed over $200M, and various subcontractors are owed an additional $2.5M, after furnishing to a project …
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September 14, 2020
Purchase Money Security Interest (PMSI) Filings were created to encourage trade creditors to sell goods on credit terms, specifically in situations when creditors may not be comfortable extending the requested …
August 31, 2020
In June, 24 Hour Fitness, a national gym chain, filed for Chapter 11 bankruptcy protection; another business casualty courtesy of COVID-19. Although the bankruptcy filing isn’t a surprise, since 24 …
August 24, 2020
Just when you think 2020 couldn’t get weirder, you notice two notary sections on the Indiana mechanic’s lien you intend to file. Nope, you aren’t seeing double, Indiana statute was …
August 21, 2020
The Credit Research Foundation publishes their National Summary of Domestic Trade Receivables (NSDTR) to its membership base and those corporations that contribute their data to the survey. The outputs compare …
August 3, 2020
Yardbird Southern Table & Bar (Yardbird) opened its Dallas TX location in March, just as the country began shuttering with the onset of the pandemic. We already know restaurants struggle …
July 20, 2020
In June, the Tennessee legislature passed the Construction Industry Payment Protection Act SB2681/HB2706 (Public Chapter 749), and the statute became effective 7-1-20, but only for contracts entered, amended, or renewed …
July 6, 2020
We recently asked our clients whether the COVID-19 pandemic is impacting their credit-granting processes. While I expected to see an increase in collection efforts and more stringent credit-granting processes, I …
June 22, 2020
There have been mechanic’s lien and bond claim legislation updates for Wyoming, Utah & Virginia. Here’s a quick rundown of the changes. Wyoming HB0052 is effective 7-1-2020 and relates to …
June 15, 2020
It’s “officially” unofficial, we are in another recession. Think back to 2008 and you’re sure to remember the painful increase in debtor defaults and bankruptcies; virtually no creditor’s AR escaped …
June 5, 2020
June 1, 2020
Furnishing to a private construction project in Wisconsin? Today’s post is all Wisconsin. Let’s review what you should know about mechanic’s lien, bond claim, and lien on funds rights for …
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Education Center