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Oct 01 2010
Credit Line Newsletter
October 2010

In This Issue
- As of May 10, The Mechanic's Lien Recovery Fund Rules Dramatically Changed - Who Stole My Marbled Rye?
- Robinson Patman Act & Extended Credit Terms
- Fraud Alert!
- Highlights of the NACM Last Gasp Before Winter Member Outing

Looking Ahead

Oct 14 - ICEL "Hold On To The Money You Collect - Preference Defenses in Bankruptcy" by Sherilyn A. Olsen

Oct 20-22 - Western Region Credit Conference More Information

Nov 2 - "Credit Boot Camp" Basic training in credit & collections.

Nov 3 - "The Changing Landscape of Credit" a full day seminar

Nov 8 - Mechanic's Lien Seminar
Dana Farmer, Esq. LienCounsel

Dec 9 - ICEL Christmas Program, the Jordan High Bell Choir

Industry Credit Groups Calendars

Why should I submit potential members to NACM?"

Help gain information on your customers. As a member, their information could help build the database on your customers as well not just a one- way street. more Info



As of May 10 - The Mechanic's Lien Recovery Funds Rules Dramatically Changed
Who Stole My Marbled Rye?

by Douglas Darrington, CCE, Altaview Concrete

Here's the typical scenario. You supply concrete to a residence where the homeowner has hired a finisher to replace his driveway. The finisher fails to pay you and you file a mechanic's lien against the property. The homeowner goes to the lien recovery fund and obtains a Certificate of Compliance which forces you to release your lien thus providing relief for the homeowner. You are left holding the bag and trying to collect from the finisher. You do your due-diligence as required by the fund rules and file for relief with the fund and you are paid. Everybody is happy and the fund has done what it was intended to do. View full article

Robinson Patman Act & Extended Credit Terms

by Nina Flurer, CCE, H & E Equipment

All credit managers should be aware that violation of federal antitrust laws carry both civil and criminal penalties.

Many companies are unaware of their responsibilities under the Robinson-Patman Act, or choose to ignore the law. All credit managers should be aware that violation of federal antitrust laws carry both civil and criminal penalties. One of the antitrust laws that particularly applies to the Credit Manager is the Robinson-Patman Act of 1936. So, what is the Robinson-Patman Act, and how do we comply with it?  View full article

Fraud Alert!

by D'Ann Johnson, CBF, Roofers Supply

If you think American Express Travelers checks are fool proof, our company just went through the following situation:

A few weeks ago one of our accounting people brought a bank notice into my office with a puzzled look on her face. "We received this notice from the bank in the mail today, but I don't understand. It says it's Altered or Fictitious. What does that mean? It's an American Express Travelers check! They're good all over, right?" View full article

Last Gasp Before Winter

Highlights from the Fall Member Outing

The NACM Fall Member Outing received it's name from a contest to "Name That Event"  Winner of the contest was Shane Inglesby, CCE, Geneva Rock Products.  2nd place in went to Dan Simpson of Wrigth Express for the name "Fall Festivus".  The event held on Friday, September 24, 2010 at Eaglewood Golf Course.