CA Court of Appeal Affirms Bar on Recovery of Licensed General Contractor for Work Performed by Its Unlicensed Subcontractor
Cindy Lee, associate, Troutman Pepper – Republished from NACM National eNEWS Most are familiar with California’s harsh penalty for unlicensed contractor work. California Business and Professions Code Section 7031 (Section 7031) bars any recovery for compensation for work performed by an unlicensed contractor under any theory of recovery “regardless of the merits of the cause […]
What Matters to the New Generation of Credit Professionals?
Annacaroline Caruso, editorial associate, NACM National A shift in the workplace is happening and businesses must decide whether to jump on board or get left behind. What was once important to job seekers no longer matters, and employees have changed their priorities. “We are never going back to what we used to call normal and […]
President’s Message – Advocate
You are the best advocate for your credit department’s success. If you’re not thinking about tools to help you automate credit approval and collection functions, you’re falling behind the average credit professional’s goals in 2022. We know the average departments aren’t adding to staff to perform additional work. Why wouldn’t you take a look at […]
Reaching Your Goals…How Performance Factors In
By: Thea Dudley Performance management isn’t dead; the old way of thinking about it is. I would love to claim ownership of the bit of wisdom, but it is attributed to Anita Bowness. It has been my mantra in credit management for a long time now. Regardless of who said it, it underscores the “one […]
Cross-Functional Teams Could Help Navigate Difficult Times
Written By: NACM National Chaos seems to be the norm lately. Nonstop news can feel overwhelming in both your personal and professional life. Just as the pandemic began to wind down, tensions between Russia and Ukraine rose to the point of war.“The past 18 months have felt like a series of massive disruptions, one after […]
The Credit Function and the Law
By: Rod Wheeland, CCE The heart of the relationship a company has with a customer involves the provision of a product and/or service, subject to a structure of legal rights and responsibilities for both parties. Knowledge of business law makes the credit practitioner a more valuable participant in helping to manage the customer relationship in […]
New Case Law Alert: Licensed General Contractors Cannot Sue Owners to Recover Funds for Work Performed by An Unlicensed Subcontractor
By Michele A. Ellison and Samantha R. Riggen The opinion in Kim v. TWA Construction, Inc. (2022 Cal. App. LEXIS 412) issued by the California Court of Appeal on May 13, 2022, makes it clear that a properly licensed general contractor cannot bring an action for compensation from an owner for work performed by an […]
California Case Law Update for Credit Professionals and Risk Managers
Written by: Chris Ng, Managing partner-elect of Gibbs Giden Locher Turner Senet & Wittbrodt, LLP The pandemic certainly did not slow down California’s Legislature and appellate courts. The following five appellate decisions significantly impact businesses that use standard form agreements, employ mechanics lien and related remedies to ensure payment for labor or materials on construction […]
4 Ways to Improve Cash Flow and Reduce Risk in Uncertain Times – FIS
Written by FIS Global Download PDF The impact of the global pandemic has driven companies to refocus theirefforts around improving cash flow and reducing risk. Short-term survival and long-term viability are a challenge that many companies did not see coming. Companies are turning to strategic partners for specialized solutions to help overcome this challenge. Here […]
Maximize Your Leverage When Discussing Change Orders
Don’t Let Change Orders Stand Between You and Getting Paid On average, 35% of projects experience at least one major change, according to an Independent Project Analysis Group study. Despite being commonplace, they create some of the biggest headaches for subcontractors and material suppliers. Download the NACM Expert Credit Brief, Maximizing Your Leverage When Discussing […]