Whether your business loans money to individuals seeking to start a business or you financed the sale of a previous commercial venture, a loan default could harm your financial bottom line. According to The Balance, a default occurs when a borrower fails to meet the...
Month: June 2022
Important terms to put in a retail installment sales agreement
If you sell retail goods or services, especially higher-priced items, you may want to consider offering payment plans for customers. If you do, you must have the customer sign a retail installment sales agreement. This agreement outlines the terms of the contract so...
Notice of commencement and what it means for subcontractors
As a subcontractor, you are likely aware of how complicated the legal aspects of construction work can be. The state of Ohio has attempted to streamline the legal process with a document called a notice of commencement. What is a notice of commencement? A notice of...
How can a lien notice help you get paid?
As someone who performs construction jobs, you should know your options if a property owner will not pay an outstanding bill for any work or supplies you have provided. Ohio law allows you to file a mechanic’s lien to pursue payment. However, another option may be...