The first step toward ensuring clients pay on time is setting up a collection system. But what happens if they still don't pay up? There are three common dispute resolutions to consider for next steps.
RELATED: How to Set up a Collection System
Construction lawyer Thomas Croessmann, managing partner of Croessmann & Westberg, explains the three possible choices to get that payment: mediation, arbitration, and ligitation. Each differ on approach, but can provide the same result. Croessmann outlines the basics of each, along with pros and cons to help you decide.
Watch to see which option fits your situation best:
Add new comment
Related Stories
Forty Under 40 Remodeling Trendsetters
The new ideas embraced by our Forty Under 40 winners are examples of forward-thinking leadership in remodeling
How to Create a World-Class Remodeling Team
Great remodeling companies position themselves for the future with the right players
How to Increase Your Odds of Closing Remodeling Sales
Use these tips to hone your sales process and grow close ratio
Everyone Should Have a Number: KPIs for Your Design Build Team
Measuring key performance indicators guides your team to success while creating accountability and ownership
Becoming Profitable in Your Remodeling Niche
The 2023 NAHB Remodelers Chair shares insights and advice for contractors in our 2024 Thought Leader predictions series
Combat Remodeling Market Pullback with Increased Marketing
Mosby Building Arts' president shares his expert predictions and approaches to remodeling in 2024 for Pro Remodeler's Thought Leader predictions series
A Mindset of Serving Others
A research study shows surprising results about what makes us take ownership of our work.
4 Surprising Home Improvement Trends for 2024
Leaf Home CEO Jon Bostock offers insight on topics and trends that will impact the home improvement industry this year
