Commercial Contractor Collections Timeline

By Cotney Construction Law

With backlogs shrinking and accounts receivable balances growing, commercial roofing contractors should develop a more aggressive COVID-19 collection strategy. The timeline below is designed to start the discussion within your company about how to use telephone calls and email drip campaigns to prompt faster payment. The following does not account for contractual payment requirements; closeout document requirements, such as the need to tender warranties in advance of payment; preliminary notice; and/or lien/bond requirements. Therefore, depending on your contract terms and jurisdiction, you may need to alter the timing. Note: Litigation should always be a last resort, but you may want to consider filing sooner rather than later to be first in line.

Date : Jan. 01, 0001