White Paper

Bonding Off Liens

 
For those that secure mechanic’s lien rights, there are a few events that may scare them a bit. For example, some fear they will upset their customer & jeopardize future business relationships, others fear the costs & complications of extensive title work (solar and wind farms), and of course there is the fear of a potentially arduous and expensive process of having to enforce their lien.

The truth is, yes, you may upset your customer if you have to file a lien and later enforce it – but you are only doing this because they haven’t paid you – do you really want to do business with companies that don’t pay you? And yes, the costs and complications with projects like solar and wind farms can be steep and time consuming, but often your contract is high for these types of projects, making elevated lien costs justifiable. But one fear that lien claimants should not have is Bond-Off-O-Phobia. It’s a real thing, OK the name isn’t real, but the fear of a mechanic’s lien being bonded off is alive and well. I intend to assuage that fear, because contrary to popular belief, the bonding off of a lien is not the end of the world – it’s security.

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Faculty

Kristin Alford

NCS

Agenda

Faculty

Kristin Alford

NCS

Kristin Alford is the Education & Marketing Specialist for NCS, the leader in providing credit professionals throughout the U.S. and Canada with proactive solutions to secure receivables, minimize credit risk and improve profitability. With uncompromising standards for professional support, NCS ensures our service groups exceed your expectations and successfully secure your tomorrow.

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