Take Your Time, Be Thorough and Protect your Lien Rights
It takes multiple contractors, subcontractors and material suppliers to successfully build one energy farm, which means there are multiple opportunities for payment issues. Supply chain issues, special fabrication, change orders, construction defects and a company’s low liquidity, are common factors contributing to slow payment or no payment. Proactively securing mechanic’s lien rights on a wind farm will help protect your company in the event of non-payment.
Here is more…
Problem #1
Identifying the right parties for notices and liens can be cumbersome
Because of the massive size of many energy projects, it can involve multiple contractors, subcontractors and material suppliers. Unfortunately, this also means there are multiple opportunities for payment issues, which contribute to non-payment on projects of these sizes. We can help sort through the ladder of supply and ensure the right parties are served.
Problem #2
Mechanic’s lien and bond claim rights can be extremely complicated
Proactively securing mechanic’s lien and bond claim rights, where allowed, will help protect your company in the event of non-payment. However, filing a mechanics lien on an energy farm is nearly as complicated as the construction of the farms. Correctly identifying the property through the legal description, as well as identifying the correct (and often multiple) owners, is no small feat. Let us help take that burden off your plate.
Education Center
You Should Try a Collection Agency Before Writing Off Past-Due Accounts
We’ve Helped Others Just Like You
If you extend credit, regardless of industry, our services will reduce your credit risk. But, you don’t have to take our word for it. Learn how some of our clients have implemented UCC filings or a mechanic’s lien process to reduce their risk and improve their cash flow.
NCS at a Glance
How we’ve helped others
Read Case Studies-
Eric Emerick, VP of OperationsAircon Engineering Inc.
- Notice & Lien
We’ve used NCS to protect a significant portion of our receivables over the past year…and with great success! By implementing a lien program, we have reduced our DSO by 20% in the last 12 months.
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John Keefe, Executive Operations OfficerCSI of Virginia, Inc.
- Notice & Lien
I love the system. Before NCS I was doing the law research (long and tedious), generating the documents, certified mailing the signed docs to the necessary parties, and trying to monitor the milestones. It was a very difficult but necessary task. The NCS service website and the lien digest have revolutionized how CSI protects its lien rights. I literally log on to the website, go to the lien digest to educate myself, pull up a service request, and input the necessary data. Done! NCS reminds me of the next milestones. Brilliant. Thank you!
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Jonas Smith, Credit ManagerEcho Group, Inc.
- Notice & Lien
Echo Group was able to recover $37,000 on a public school project by leveraging the bond claim service provided by NCS. This bond claim gave us additional leverage in negotiating a settlement with the General Contractor that we would not have had otherwise. Regarding the second project, NCS made a bond claim on our behalf and we were recently informed that the surety will be paying Echo Group in full, approximately $61,000.
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Kevin Lake, ICCE, Corporate Risk ManagerHitachi High Technologies America, Inc.
- UCC
Using the Corporate Monitoring service NCS has been providing, our company has already identified two accounts with open credit limits which could have resulted in material losses: First, a $100,000 open credit limit and open accounts receivable. NCS identified the account as inactive with the State. Subsequent conference calls with the CFO of our customer found that the customer was “very close to running out of cash and it is unlikely to be funded further by outside investors.” Given such dire status provided verbally as well as the State standing, we reduced the limit to $0. Second, a $250,000 open credit limit. NCS identified the account as inactive with the State. HTA had no open exposure and decided to reduce the limit to $0 until the business returns to active status or until a sufficient explanation can be provided. As a general rule, HTA does not do business with companies that are inactive with the State without sufficient explanation and understanding.
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Christopher Santasiero, Corporate Credit ManagerLG Hausys America, Inc.
- Notice & Lien
The NCS team is very easy to work with, and they offer outstanding customer service; moreover, I am impressed with the tremendous product knowledge and willingness to help offered by NCS Team members.
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Amy L. Trevino CBA, Credit ManagerMcNaughton-McKay Electric Company
- Additional Services
Within the first week, I found a lien against a current customer that forced them to come clean to me about why my company had not been paid. This information made it clear not to sell to them further until things were resolved. I can’t think of any other way I would have found that information without LienFinder – it just saved my company $75,000.
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Michelle Jones, ParalegalRBI Solar
- Additional Services
I highly recommend LienTracker Online to companies who are comfortable with managing the preliminary notice process in-house. The new cloud-based system with the convenience of the NCS mailing service, has saved me considerable time and money. LienTracker Online has been very easy to use and with consistent program enhancements, I look forward to actively using it to protect RBI Solar’s lien and claim rights. Great job NCS!
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Melissa Kobus, Assistant Director of CreditWalters Wholesale Electric Co.
- Notice & Lien
The improved turnaround time on lien waivers saves us 100 hours a month compared to our previous process. We quickly generate, review, and email our lien waivers. I can provide my customer with their waiver in 10 minutes or less. We have seen an increase in customer satisfaction because of this performance improvement!
Our broad network helps us help you
Each industry is unique, with its own set of risks and challenges. Our expertise is vast, our resources are bountiful, and our experience has provided us the opportunity to develop and refine tailored and successful solutions, for credit professionals just like you. Whether you need to improve your cash flow and work capital, reduce bad debt write-offs, or simply need to free up your credit department’s time, our team is prepared to ensure you are in the best possible position to get paid.
What sets us apart?
We’re here to back you up, and get you paid.