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Old 02-14-2008, 10:32 PM
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This is a good question and it brings up a point that LCOs do not have to just accept contracts as they are written by the contracting agencies.

I would be very leary to work for this management company. *You have to learn from history. *If they stiffed the other guy, *they might do the same thing to you.

You have a great idea to get them to prepay for work to be done. *If they won't go for that, try to think of a work around.

Can you get them to pay an escrow company for a month's billing? *The escrow company will keep the money and release it to you should a problem arise where the management company is unable to pay.

How about a co-signer to the contract? *If bills are defaulted upon the co-signer is liable.

How about a bonding company willing to write a bond for payment should the management company default?

These are extreme measures by common standards but if the contract is important enough you may have to consider creative methods of assuring their fiduciary responsibilities are met.


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