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Alternative Options in Protecting Lien Rights: In-House vs. Outsourcing
You have two choices when it comes to serving lien and payment notices as an
owner of a construction company. You can choose to complete the process in-house
or manually, or you can outsource the work. They're very different options, though,
so it's important to understand how they compare.
Outsourcing the notice process can be incredibly beneficial for your company.
Regulations differ from state to state, and the notice process is very technical. While
it's possible to complete these tasks in-house or manually, it can be difficult. These
are the most important things to consider if you're thinking about taking care of your
notice process manually. Each of these has its own set of advantages and
disadvantages, and weighing your options is critical for your notices to be effective.
Just one notice would be the difference between hundreds of thousands of dollars or
nothing at all.
The Size of Your Company Matters
This is a very important factor when it comes to your notices and invoice process.
There is a considerable amount of research that goes into serving regulatory notices.
If you have a small to mid‐sized company, completing the task in-house could be
quite difficult.
Most construction companies are small to medium-sized. If your company is a huge
commercial outfit, it may be possible to complete all the work for your notices
in-house. It takes a staff dedicated solely to notices, liens, and invoicing for the
process to be completed efficiently
It would require a large amount of multi-tasking for a regular employee to take care
of notices and their job as well. If this work falls on a full-time employee, consider the
amount of time that will be taken away from their normal job description.
Knowledge of Notices and Liens
When you choose to complete the notice and lien process manually, it could be
difficult to complete it properly. Even with a substantial amount of studying, finishing
the process can be extremely difficult because of the technical details.
When you are a company owner, it's important to save money whenever you can.
However, some things are better outsourced and should be considered a wise
investment.
If you choose to outsource, you know you're receiving the services of a
knowledgeable expert in the field of notices and liens. You are guaranteed that the
proper paperwork is filed, and no hiccups will take place.
How Cost-Efficient is Outsourcing?
The cost of outsourcing your liens and notices is minimal when compared to what
could happen if the process isn't completed properly. You could stand to lose the
payment of an entire project and the ability for the lien to stand up in court if one
mistake is made.
Although you do pay a certain amount upfront to outsource the completion of notices
and liens, consider how your bottom line could be affected if it's not done properly.
All it takes is one minor mistake on the paperwork or notice to be filed incorrectly to
severely affect your bottom line.
Utilize Nationwide Notice to Protect Your Lien Rights
Outsourcing your notices and liens is one of those tasks. It's important to save money, but it's also important to make smart decisions regarding the security and credit of your company. Working with Nationwide Notice will give you extra peace of mind in your construction projects. We strive to work with your contractors and subcontractors, no matter the size of the construction company, to ensure payment by utilizing existing lien laws as leverage to make sure you get your receivables. The experienced staff at Nationwide Notice, Inc. is here to assist you in protecting your lien rights and aiding you with your receivables by tracking and submitting your state's required legal documents. Check out this page to see how we are different, or check out our homepage here.