Wednesday, July 23, 2008

Construction Troubles

I was talking the other day with my friend who is a bank manager. He was telling me about his client who was engaged in the construction business. I learned that in the event that a client fails to follow the agreed payment or funding schedule to a construction company, the construction company should not hesitate to get the service of companies such as Prolien to protect them from losses. With Prolien, they can be advised if they can issue the necessary liens and stop notices. Apparently, his client was very good construction planner and very wise in business. To safeguard the profitability of his projects, he makes sure that all of his business ventures are covered with contracts with specifications regarding payment schedules and guidelines and if they fail to follow the agreement, they already know what legal action to take. Since he assures his clients his good services, it is only fair that he in turn should put safety nets for there could be instances that a client may end in default with regard to payments for some reason or another.

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