Tell them you will sign one for every customer you get paid on. That means they cut you the check for a sub, and you sign a release on that same sub. I generally give companies "net 10" terms which gives them 10 business days from the date of invoice to pay. So, any company can require I sign the releases upon payment and I won't have a problem with it as long as the money is good. At most, any company I work with only has a potential for lien hanging for 10 days. If they can't foresee paying me in 10 days time, only then should they be concerned about the lien process. Needless to say, that's the kind of company I don't want to work with anyway.
Now, I don't go filing liens on the 11th day. I may wait up to 90 days before I start default procedures, sooner if its a sinking boat. However, I also have clauses in my contracts that include a 1.5% late fee (compounded daily) each week on all past due invoices. That means if they are late, I tack on another 1.5% to their invoice each week. Needless to say, the invoice more than doubles every year.
Re: signing a waiver to a mechanics lien
Member #: 40846
Registered: 9/19/2005
Posted:
1493
Name:
Duane Vick
Name:
Duane Vick
Company:
Self-Employed
Occupation:
Installer
Location:
Phoenix AZ
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