Getting Paid: Managing Your Account Receivables Part 1

Have you completed the work, but now are wondering how to get paid the money you’re owed? Unfortunately, some clients may feel they can pay whenever they’re ready while some may never pay up. This scenario is all too common in the construction world. As Tallahassee construction lawyers, we understand that managing accounts receivable can be challenging, but if you employ the following strategies, you’re likely to see an increase in your class flow. For more tips, read part two of our article.

Get Everything in Writing

We have said this a million times over, but it’s worth saying it again. Get everything in writing—always. This includes notices and waivers. It is even more important to get payment agreements in writing. Relying on a verbal agreement could get you burned. Besides, when it’s in writing, it’s harder to refute.

Send Preliminary Notices

Mechanics liens and bond claims are critical in construction. These will guarantee faster payment on your accounts. It’s important for lienors to send preliminary notices and preserve their right to file a mechanics lien or bond claim. Sending these notices gives will ensure your invoices get priority attention if you are left unpaid for services rendered.

This process may be complicated at times due to filing timelines; however, our Tallahassee construction lawyers have a deep understanding of Florida lien law. Don’t hesitate to reach out to our firm for a consultation.

Be Consistent With Billing

Stay on top of your billing. Sending bill sporadically comes off as passive. If a client perceives you to be reactive, they’re less likely to place paying you as a top priority. With consistent billing, you’ll stay on top of mind.

If you would like to speak with a Tallahassee construction lawyer, please contact us at 850.213.1295, or submit our contact request form.

Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.