Blog

One of our customers called me the other day and told me he was considering becoming a Union company and wanted my input. While I’ll have to be the first to admit I had never really given much thought to the difference between being a union shop or not, I gave him some suggestions that he seemed to really appreciate.
But what was cool about the whole thing is he saw me as a resource. I’m not just the collector, charged with dialing for dollars. Instead, he knew he could count on me to willingly give my time, my opinion and my efforts to help him with his business.
There are a number of customers who also see me as a resource. They will contact me when bidding to see if I know anything about the GC, or if there are already liens on the job. Others know they can count on my advice when it comes to helping them collect their own money, either by teaming with them to file liens, or by counseling them on what they might do.
For instance, many contractors don’t realize that if they are in a contract where the GC or owner is in payment default, that they don’t have to continue sinking their resources into the project. Most are afraid that if they pull their guys off a jobsite, they might be subjecting themselves to delay of job charges and penalties.
It’s true, this can happen. But there is a section of the mechanics lien statutes that deals with this, and not every contractor knows his rights. So it’s always gratifying to point out Section 24 of the Illinois lien law gives them the right to send a letter advising the owner/GC that they are in default and have ten days to cure the default, after which the subcontractor can pull off the site and lien it for the value of the work done and material supplied to date.
But if you don’t know this little tidbit, the uncertainty and stress of not being paid while having to pay your guys and suppliers can test a company’s health
So it’s gratifying being a resource for my customers. After our merger, a number of customers told us they stuck with us because they like, trust and respect our credit team. They know we care and they know we’ll do what we can to help them.
I like that.

Norm Cowie
Credit Manager
Paramont EO