ICYMI: Lockdown Payment Plans like a Pro

ICYMI: Lockdown Payment Plans like a Pro

In the latest episode of The Lien Zone Podcast, titled “Lockdown Payment Plans like a Pro” host Alex Barthet, a board-certified construction attorney in Florida, shares essential tips for securing payment plans that expedite payment and minimize litigation risk.

Alex outlines four crucial strategies for effective payment agreements:

  • Documentation and Authorization: Emphasize the need for written agreements signed by an authorized principal, highlighting the risks associated with verbal agreements and the importance of having formal documentation.
  • Clear Terms: Specify the total debt, payment schedules, and conditions, including ensuring payments are due upon receipt, not mailing, to avoid ambiguities that could delay payment.
  • Strategic Credits: Recommend offering credits only in exchange for full payment, suggesting structuring agreements to allow for discounts upon successful completion of payment terms, thereby encouraging timely compliance.
  • Preservation of Lien and Bond Rights: Advise against relinquishing lien or bond rights prematurely, suggesting the use of alternative security measures like personal or corporate guarantees if necessary.
    This episode is a valuable resource for construction professionals seeking to improve their financial agreements and ensure timely payments while retaining their legal rights.

Make sure to follow us on YouTube and social media including InstagramLinkedIn and Twitter to get a jump on your competition.

About Our Host:

Alex Barthet
Principal, The Barthet Firm

Alexander Barthet is a board certified construction attorney in Florida and holds a B.S. in mechanical engineering.  He manages The Barthet Firm, a ten lawyer construction law firm in Miami, and maintains a construction law blog at www.TheLienZone.com. He can be reached at 305-347-5295 or alex@barthet.com.