Our Credit Reporting Products
In today’s business environment credit information must be current and verified. An incorrect legal name or lack of the most current bank and trade references will increase your uncollectible accounts. Our options for verified, investigated, onfile or custom reports provide clients with tailored credit management solutions.
Business & Construction Credit Reporting:
- The credit tools you need to manage your new accounts and monitor cash flow
- Avoid taking on a bad credit risk when selling to another business
- Quickly assess the creditworthiness of a customer
- Obtain a credit check on any company
- Reports that help you complete risk credit assessments with confidence
- Construction reports for selling to contractors, projects, trades or builders
- Commercial reports for approving your business credit sales
- Improve cash flow
- Vendor reports for new suppliers relationships
- Get in-depth commercial information, including financial statements and payment performance data
- Establish credit terms and assess potential risk
- Account monitoring for ongoing receivables management
Credit Reporting
Comprehensive database with decades worth of credit data information
Readily accessible and searchable database updated by the minute; information at your finger tips.
Freshly investigated credit reports by subject matter experts
Verification of your credit application with fresh bank and trade references obtained to ensure credit data and background provides a robust view of business risk and credit worthiness of your customers.
On-File credit reports with legal name verification, legal data for all of Canada, payment trend data and aging, plus background of business, on-file bank and trade references, on file ATB data
Instant access to on-file credit reports through online portal for quicker, informed credit
Credit rating score on all reports summarizing crucial credit criteria such as payment trends, legal item history, age of business; amongst other factors
Credit rating scores provide factual predictive indication of how well a business is doing; helping you to mitigate risk for your business.
Account Monitoring
Detects changes in banking information, legal name, credit application trades, principals, secured creditors and items of public record (construction liens, statements of claim, returned cheques, collection claims)
Automated service set up through your online service with monthly submission of your ATB data.
- Stay ahead and on top of changes happening in your customers’ businesses, pro-actively mitigating your risk.
Credit Group Meetings
Meeting of our members within similar business sectors to discuss common accounts to determine potential bad debt and slow pay accounts.
- Cost effective way to review all customers in a confidential setting with up to the minute credit information.
- On line access to your industry Credit Group members instantly to share or access credit information and trade ratings in between group meetings.
Credit Window
Unlimited access to snapshot views of payment trade information and record of legal claims over five-year period on your customers.
- Making the credit decision process faster and streamlined.
Lien and Legal Bulletin
Lumbermens offers comprehensive provincial Construction Lien and Litigation Bulletins, which provide weekly notice of lien registrations and legal claims for Ontario, British Columbia, Alberta and Quebec as well as bi-weekly in Manitoba/Saskatchewan and Atlantic Canada.
- How Weekly Lien Bulletins aid your Risk Management efforts
In order to minimize the risk of extending commercial credit, you need the most up-to-date information available on the companies you plan on doing business with. Weekly access to newly filed liens gives your organization an early warning signs. With more large-scale, complex agreements being signed than ever before, the amount of bad debt accruing is at an all time high. Lower your risk by being informed on who could be responsible for increasing your operational costs.
- What they are, and why they apply to you
A construction lien is a legal claim for payment made by a contractor or subcontractor who has supplied services and/or materials to improve a property. A lien is placed upon the property if complete payment is not madeto the party filing it. Claim for Liens cannot be made until the contractor has first supplied services or materials to the property being improved.
- Exclusivity
With all other credit bureaus and reporting agencies having to wait 45 days before the information we receive is made available, our Members are always the first to know!
- Where our information is sourced
Every 5 business days, Teranet in Ontario and provincial government departments in Manitoba, Alberta, Saskatchewan, uploads a detailed list of all construction liens filed within the province to Lumbermens Construction Risk Management database. This information is only available to anyone else 45 days after the Lien is registered and only if a Statement of claims is filed, making Lumbermens bulletins the only source of Lien Data week after week.
- Accurate, convenient, insightful, fast
LUMBERMEN’S CREDIT BULLETINS
CANADA’S ONLY COMPREHENSIVE CREDIT BULLETIN
FOR SUPPORTING CREDIT MANAGEMENT OF YOUR CUSTOMERS
* FREQUENTLY UPDATED *
* HIGHLY DETAILED *
- Weekly Reporting
- Legal Action & Status
- 3rd Party Collection Claims
- Weekly Reporting
- Builders Liens
- Legal Action & Status
- 3rd Party Collection Claims
- Bi-Weekly Reporting
- Builders Liens
- Legal Action & Status
- 3rd Party Collection Claims
- Weekly Reporting
- Project Credit Reporting
- Liens & Status
- Legal Actions & Status
- 3rd Party Collection Claims
- Weekly Reporting
- Legal Action & Status
- 3rd Party Collection Claims
- Bi-Weekly Reporting
- Mechanics Liens
- Legal Actions & Status
- 3rd Party Collection Claims
Think Info
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Collections
Would you prefer to send your file to a collection agency or a law firm for almost the same price?
We are able to offer our customers LEGAL collections for almost the same price as collections agencies which is a HUGE advantage for our customers.
Many years of Legal Collections experience from simple collections, all the way to Lawsuit & Trial if necessary.
Partnerships with law firms across the country allows Lumbermens to offer Legal Collections services all across Canada.
Lumbermens’ partner Law firms are more effective at collections than collection agencies. Most people know that collection agencies are very limited in their power to collect whereas our network has multiple tools of enforcement including law suits.
Much higher recovery success rates given Legal Collections with our network, as compared to regular Collection firms.
NEW!
Avoid using multiple entities and being delayed!
Lumbermens’ first-of-its-kind Partner Network of specialized law firms creates highly effective ONE STOP SHOP for Debt Recovery
LIENS @ LUMBERMENS
Lumbermens Credit Group
is pleased to announce the return of one their most popular services for our members at an extremely competitive rate: Ontario Construction Liens
PRICING
$475 + HST
for a simple* Construction Lien
TO LEARN MORE, CONTACT OUR LIEN TEAM:
CALL
1-800-761-2072
liens@lumbermens.ca
*A simple construction lien is one that has 24-48 hours notice to Lumbermens and has 2 or less pins attached.