Protect Your Profits: Essential Tips for Crafting Enforceable Payment Plans

The Lien Zone Podcast: Construction Law, Contracts, Liens, Bonds & Collections

Payment plans can be a valuable tool for resolving outstanding debts and avoiding litigation. However, it’s crucial to approach them strategically to ensure they are legally sound and protect your interests. In this guide, we’ll explore four key tips for crafting effective payment plans: getting it in writing and signed by the right person, including essential terms in the agreement, offering credits strategically, and preserving your lien or bond rights. By following these guidelines, you can increase the likelihood of timely payments and minimize potential risks.

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About Alex Barthet

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 [e-mail].

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