What is a Lien and Legal Bulletin?

What is a Lien and Legal Bulletin

A Lien and Legal Bulletin is an information sheet that displays the financial status, the construction lien status, and the legal claims that pertain to construction companies within an area. The Lumbermens Lien and Legal Bulletin is a periodical information source with regular updates that ensure the supplied information is current and accurate. It provides our customers with the details they need before they extend credit to a company. This includes knowing if a company or worksite already has a construction lien levied against it and the status of that lien. 

The Lumbermens Lien and Legal Bulletin is a biweekly publication for nationwide credit monitoring, and a weekly publication for credit monitoring in Ontario. When you subscribe, you can select the provinces or areas that you would like the bulletin’s report to reflect, and you can receive the results directly to your email inbox. Through Lumbermen’s exclusive partnerships, our Lien and Legal Bulletins are updated with the most recent information on construction liens possible – with updates happening even earlier than our competing credit monitoring groups. 

Know the Risks Before You Extend Credit

Before you extend credit, you will want to know the financial status of both the company and their owners. You will also want to know what construction liens are levied against them, the status of those liens, and how consistent they are with repayment. This information allows you to manage and identify your risks before you extend credit to a new company. Knowing the status of legal claims in relation to a company is similarly helpful in identifying risk, as does knowing if the company has a certificate of action filed against them and when. 

Due to the limited time frame of construction liens, the regularly updated Lien and Legal Bulletin from Lumbermens provides accurate and up to date information that reflects any recent changes to a company’s construction lien status. This allows our customers to always be equipped with the most current information about the companies they may work with or extend credit to. 

Credit Monitoring from Lumbermens

Lumbermens credit monitoring is an effective method for evaluating risk before you extend credit to a company. With our periodical Lien and Legal Bulletin, you regularly receive up to date credit monitoring information that allows you to make an informed decision based on current events. If an investigated business credit report is desired, Lumbermens can prepare an entire credit report on an individual company. This can include useful information to help determine risk, such as summarized payment data, a full credit score report, and applicable legal information. An instant report can immediately be generated, along with a secondary report that is researched by Lumbermens to include the most current and up to date information possible. 

If you would like to learn more about credit monitoring from Lumbermens, we are reachable by telephone at 1-800-761-2072 or by email at customerservice@lumbermens.ca. Our Customer Service Team is happy to answer any questions you may have about our Lien and Legal Bulletin, and can help you through the application process.