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Are you in the construction business? Do you ever have invoices that run long overdue? There's a remedy for you, and it is as easy as sending out the demand letters that your company already sends. The Notice of Intent to Lien is a secret weapon for construction companies who aren't quite ready to file a lien, but need payment now. Notices of Intent to lien get you paid 47% of the time without ever having to actually file the lien! It works like this: send out your invoice, when is is 30 - 45 days past due, send out your notice of intent to lien, if you STILL are not paid, file the lien. Easy as that! This slide deck will guide you through the benefits of the Notice of Intent to Lien and will show you how to apply it to your business.
Citation preview
The Demand Letter That Gets You Paid in 20 Days or Less
The Notice of Intent to Lien
www.zlien.com
Table ofContents
A simple adjustment to improve your payment funnel
What is a notice of intent to lien?
How to utilize the notice of intent to lien
1
32
3
1A simple adjustment
to improve your payment funnel
What happens when an account
is overdue?
Most companies go through a series
of…. …emails
…phone calls
…and letters
All in an attempt to collect the
money they are owed.
We call this process:
Luckily, companies in the
construction industry have a
special tool to help them
collect…
The Mechanics Lien!
But did you need there is
actually a secret weapon in the
construction industry?
Yes, that’s right - a secret
weapon that can get you paid
before you ever even file a lien
at all!
This weapon goes by the
name….
The Notice of Intent to Lien
2What is a notice of
intent to lien?
It’s like a demand letter…
…but with a lot more teeth
The Notice of Intent to Lien can
be effective just by utilizing the
threat of a lien…without ever
actually needing to file one.
WHY?
Instead of a regular old demand
letter, the notice of intent to
lien informs the owing party
that if payment is not received,
then a lien will be filed.
There are some other benefits
to the Notice of Intent to Lien
as well:
While there may be a lot of
excuses for why your customers
won’t pay….
That doesn’t mean you have to
be punished….
Show them you mean business.
3How to utilize the notice of intent to
lien
Set a strict deadline.
For example, 45 days after payment is
due.
If payment isn’t made by this
time,
send a Notice of Intent to Lien.
And watch the payments come
in!
But really, this whole thing
sounds great in theory…
…does it actually work?
YES!
Essentially, you can cut the number of
times you need to file a
lien in half just by sending this
simple letter.
So stop wasting your time with
empty demand letters and
ineffective, time-wasting
collections tactics.
Utilize the Notice of Intent to
Lien
and sit back as your collections
rise.
We hope you’ve enjoyed the presentation.
Here’s to watching your outstanding debt
decrease…
…and your revenue increase!
