The Current Situation in the World of International Trade

May 19, 2021

Posted by & filed under Business Credit Journal, International Business.

Written by: Brenda Barnes, Export Manager, Geo. S. Bush & Co., Inc.
Congestion at the seaports is in the news and has been for several months now. Most of what is seen on television are the ports of Los Angeles and Long Beach, California. Maybe that is the case because they seem to be in the worst way, with more than 30 ships at anchor waiting for a berth on any given day. Some of these ships at anchor are breakbulk ships, but for the most part, they are container ships. Other congested ports affecting shipping are Oakland, CA; Vancouver, BC; Houston, TX; New York; New Jersey; Savannah, GA; and Norfolk, VA. If you are interested in seeing how many ships are at the terminals and anchored, a good website to use is https://h5.shipfinder.com… Read the rest

A Helping Hand

May 19, 2021

Posted by & filed under Collections.

Are delinquent accounts absorbing too much of your time? Could that time be better spent approving new business?

You are not alone, 93% of businesses experience late payments from customers. NACM Commercial Services is ready to extend a helping hand. Let us take the burden off of you and help mitigate your write-offs.

Placing an account for collection is easy—just download and complete the Collection Placement Form. Email the completed form to the contact information below. If you are an existing collections customer, submit your information online! Remember, when placing your account, include a current statement or invoice, credit application, and personal guaranty if available.

Download Placement Form

Contact us Today!
800.622.6985
col@nacmcs.org
www.nacmcs.org… Read the rest

Provision in Washington’s Construction Lien Law provides Important Protections to Lien Claimants against Coercive Acts of Others

May 19, 2021

Posted by & filed under Business Credit Journal, Lien Law.

Most project developers and general contractors respect the right of a potential lien claimant to record a construction lien in order to protect their right to payment. Periodically, however, there are those who seek to put undue pressure on a potential lien claimant to not exercise their lien rights. For example, a developer may threaten to stop doing business with a contractor to try to prevent the contractor from recording a construction lien, or a contractor may threaten to terminate an ongoing business relationship with a subcontractor or supplier to try and prevent their recording of a construction lien.

In 1992, as part of the Washington legislature’s amendments to many provisions of the Washington construction lien law, the legislature enacted a statute designed to deter persons from engaging in the above conduct and other similar coercive conduct.… Read the rest

Help Credit Professionals Succeed

May 19, 2021

Posted by & filed under Credit.

Looking for a good cause to donate some time to? Looking to get involved and network with other credit managers? Look no further! We have the perfect opportunity for you!

The NACM Commercial Services Foundation is looking for volunteers to serve on the board, plan fundraising events, or simply donate to this worthy cause. The NACM Commercial Services Foundation provides scholarship opportunities to credit professionals in the pursuit of education and training, achieving professional designation, and attending national and regional programs. The Foundation has awarded nearly $100,000 in scholarships to NACM members. By getting involved in the Foundation, you support the tradition of helping credit professionals succeed. If you are interested in learning more, please email us at foundation@nacmcs.org… Read the rest

Getting Ready for 2021 Sales Tax Changes

Mar 17, 2021

Posted by & filed under Credit.

Silvia Aguirre, VP of Certificate Management at Avalara

It’s no secret that sales tax is complex with the various rates, rules, deadlines, and geographic differences that are constantly subject to change. As the pandemic continues and consumer preferences increasingly lean toward e-commerce, tax authorities will continue to implement changes to balance their budgets. Every year, Avalara explores emerging trends in its annual sales tax changes report. In 2021, we expect to see a range of changes including states broadening their tax base, new economic nexus and marketplace facilitator laws, and more state enforcement efforts.

Broadening the Tax Base

To avoid increasing rates on existing taxable goods and services, some states may look to broaden their sales tax base1 to include exempt goods and services to drive additional revenue.… Read the rest