Protecting security interests is essential for creditors to secure their rights and claims in the event of a debtor’s default or bankruptcy, ensuring the collateral serves as a valuable asset to satisfy debt. To do so, trade creditors can file a Uniform Commercial Code lien, also known as a UCC filing, a legal document that serves as a public notice of a secured transaction, providing information about a creditor’s interest in the debtor’s personal property collateral.

Burnout has become a corporate vampire, draining the life out of employees through emotional exhaustion and lost productivity. By understanding the causes of and the preventative measures for burnout, credit professionals can maintain the physical and mental well-being of their credit team as well as improve performance in the workplace.

Combining business with opportunities for fun, relaxation or adventure is a popular trend on the rise in the travel business world—also known as “bleisure,” or the mix of business and leisure. Work life and personal life usually have a clear separation, but the traditional views of business travel are starting to change. Attending business meetings by day and unwinding at a beachfront or exploring the local area by night offers professionals several advantages of productivity.

In the world of business, a dead deal is a haunting reminder of opportunities lost and partnerships that crumbled before they could flourish. Credit professionals can work closely with the sales team to not only secure sales, but prevent and resurrect so-called dead deals.

The term “ghosting” is commonly used in the dating world to describe a person who stops responding to calls or texts suddenly and without explanation. But credit professionals also can be victims of ghosting from customers.

For the past several years, a number of Chapter 11 debtors, typically with significant mass tort exposure, have used a bankruptcy strategy known as the “Texas Two-Step” to resolve mass tort liability in a bankruptcy forum while shielding their operating businesses from the direct impact of bankruptcy.

Many credit professionals spend a lot of time trying to resolve customer disputes, and disputes tend to become more common during times of economic volatility as a way for customers to stretch payment terms. Disputes end in the customer’s favor more than 75% of the time for one in every four credit professionals, according to an eNews poll. One in every five credit professionals say more than 5% of their past dues are tied up in disputes. The disputes factor in NACM’s Credit Managers’ Index fell 2.5 points to 47.3 in September, its lowest level since April of 2009.

Contracts are the foundation of construction projects. They provide written documentation of what the scope of the work will be, terms, budget, obligations and more. It is imperative to thoroughly read the terms you will be agreeing to before signing any contract at all.

The construction industry presents unique challenges for credit professionals due to its complicated nature. For example, credit professionals must assess the risk associated with multiple parties involved in a single project. Cash flows in construction often depend on project milestones and payments, making it challenging to predict when and how payments will be received.