Manufacturers often overlook a powerful tool when trying to get paid.
The focus is so often on preserving lien and bond rights, but manufacturers may be forgetting about the power of the Uniform Commercial Code (UCC). The UCC can be a faster and more effective collection tool, when used correctly to manage risk. A relatively small investment in a UCC program can yield a huge return.
Lending at all levels within the supply chain requires the use of best practices to be successful. UCC filings, along with notices and mechanic’s liens, can be powerful tools for manufacturers.
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No Lien Rights for Rental Equipment Companies in Pennsylvania
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After implementing the lien/notice to owner program, we have seen our DSO numbers steadily decline each month, to an average of around 22 days. That is over a 30% improvement in our DSO since we first partnered with NCS.
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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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I’m no longer missing lien deadlines and the ones I submit are reviewed and corrected before being mailed out! It’s so great! Thanks!
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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.
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.
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