Getting paid when your customer goes bankrupt
from By Scott Wolfe
Every company has concerns that a customer will file for bankruptcy protection with open receivables, leaving the company high and dry. The dread of receiving a bankruptcy notification is hard to understate. Not only is the form itself dreadful and complicated to manage, but so too is the fear that the account will eventually get written off. However, those in the construction industry have the opportunity to insulate themselves from this risk.
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