When most people think of a business filing bankruptcy, what they’re often picturing is a Chapter 7. This chapter of the U.S. Bankruptcy Code provides for liquidation, in other words, the sale or monetization of the debtor’s property and the distribution of any available net proceeds to creditors.

California Governor Gavin Newsom signed SB 440, or the Private Works Change Order Fair Payment Act, into law on October 10. The law, which goes into effect at the start of 2026, introduces a newly structured process of resolving change-order and time-extension claims on private works of improvement.

Anyone who has turned on the news in the past two weeks likely knows that Republican and Democratic leaders have been unable to reach an agreement on government funding as the now three-week government shutdown continues. Democrats are refusing to pass a ‘clean’ funding bill, demanding an extension of the expiring Obamacare tax credits, and Republicans are holding firm despite public polling in support of the subsidies sitting at over 70%. They argue that Congress has plenty of time to extend the subsidies.

NACM and FCIB’s six-level Professional Certification Program does more than just expand a credit professional’s knowledge; it equips them with advantageous skills and opportunities to grow in their role. 

Pursuing a professional designation through one of NACM and FCIB’s Professional Certification Programs is not only a chance to deepen your understanding of business credit, but an opportunity to learn more about yourself. For Dane Navia, CICP, senior credit analyst for Johnson and Johnson International (Singapore), earning her Certified International Credit Professional (CICP) designation was a transformative experience. 

France’s political crisis continues to escalate after the third prime minister in the last year resigned, putting increasing pressure on President Emmanuel Macron to step down after eight years in office. Prime Minister Sébastien Lecornu announced his resignation in early October, after only 26 days in the position.

Salary benchmarking surveys are an important guidebook for any profession, as they track how individuals are compensated in their roles across different experience levels, industries and locations. Joining together, NACM Affiliates urge members to participate in their Credit Professionals Compensation Survey citing that participation will lead towards building an important and invaluable community resource.

Lien and bond rights are essential tools for protecting payments in the construction industry. Whether you’re a general contractor (GC), subcontractor or material supplier, these legal rights provide leverage when payments are delayed or withheld. However, these rights and the processes to enforce them vary significantly from state to state.

California Governor Gavin Newsom signed AB 1521 on October 1, formally defining “trade credit” in state law for the first time and clarifying SB 1286, a bill signed last year that created confusion when it offered small businesses consumer debt protections as it expanded on the Rosenthal Fair Debt Collection Practices Act.