I think a possibly better solution is to run a credit check on the company and principals. I have used Dunn and Bradstreet in the past, I think it was $60. Small price to pay to find out if it is a deadbeat. That is why it is important to file claims and get judgments, even if it is never collected, it will go on record and warn people.
This is CABL.com posting #235003. Tiny Link: cabl.co/m9ix