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How to develop and implement a preliminary notice policy

from By Nate Budde

The construction industry runs on credit. As such, most credit departments have policies that guide when to extend, and how to collect, credit. A preliminary notice policy sits within your credit policy, describing how to incorporate and protect mechanics lien rights. Specifically, this type of policy details when and how to secure debts using preliminary notices — sometimes called notices to owner or pre-liens — and it expresses your team's philosophy toward lien rights. more

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