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Texas Construction Law Blog For Subcontractors & Suppliers

Tag Archives: credit application

7 Ways to Manage the Credit Risk of a New Customer

Posted in Collection

Get the project information up front You should ask your customer for the owner’s name and address, the location of the project, a copy of the payment bond (if any), and the general contractor’s name and address (if you are a second tier subcontractor or supplier).  Having this information at the outset will help you… Continue Reading

Adding Another Target: Personal Guaranties

Posted in Collection

In general, a personal guaranty makes an individual or individuals liable for an entity’s debts or obligations.  A personal guaranty which guarantees a general contractor’s obligations to pay a subcontractor is rarely given, but it is common for the principal(s) of a subcontractor with unestablished credit to personally guarantee the debts and obligations of the… Continue Reading