… Read the rest

When it comes to determining the correct path for securing the various lien or bond provisions that ultimately help secure payment on a construction job, public or private, there are typically a few simple steps credit managers can take.

Provided one carries out these actions, like filing a payment bond notice on a public job or a mechanic’s lien notice on a private job, and does so at the right time and in the correct manner, the process can seem fairly straight forward, said Chris Ring, of NACM’s Secured Transaction Services (STS). STS, for instance, curates these processes in easy-to-follow, three-step formulas as part of its Lien Navigator service. But as a recent court decision in the New York Appellate Division shows, what in some cases appears easy to understand may quickly become complicated, and the pace at which credit managers navigate through the system—in some cases, as the clock to secure payment winds down—can slow to a crawl.… Read the rest

Businesses will likely have insurance to protect assets such as buildings or equipment, but one of its largest assets oftentimes goes uninsured. Credit or trade insurance provides an option to cover a company’s accounts receivable.

Trade finance or credit insurance supports up to 80% of global trade, according to the Export-Import Bank of the United States (Ex-Im). While nearly half of European exporters routinely use trade credit insurance, only about 10% of U.S. exporters do, it says.

It notes that U.S. small business exporters traditionally opt for cash-in-advance or letters of credit in high or intermediate risk markets or on larger contract sales. “Foreign buyers often demand favorable open account terms and the long-term trend in global trade is toward sale on open account.”… Read the rest

Congratulations to our newest designation holders who took their certification tests on November 7, 2016.

CCE

Mark Teeter, CCE
Pam Wagner, CCE
Tess Ricard, CCE
Sheryl Rasmusson, CCE

CBF

Beverly McCluskey, CBF

CBA

Ashlee Lawrence Minty, CBA
Jodi Martinez, CBA… Read the rest

The NACM Northwest Foundation is pleased to announce that Keen, Inc., became a Corporate Lifetime Member in August 2016. The Foundation is also pleased to announce that Marsha Johnson, CCE, and Raeann Binau, CICP, RGCP, have recently become lifetime individual members. Their support is greatly appreciated.

The NACM Oregon Foundation was established and incorporated on January 1, 1997. The Foundation is an independent, public benefit, non-profit organization that provides scholarship opportunities to credit professionals to assist them in the pursuit of education and training, to achieve professional designation, and to attend national and regional programs and conferences. The Foundation has responsibility for raising and distributing funds to support scholarship opportunities. The Foundation Board of Directors is composed of unpaid volunteers who donate their time to manage Foundation programs.… Read the rest