Running the Business · Part 2

Supply-house relationships and credit: the account, the terms, the personal guarantee, and the notice your supplier sends your customer

A supply-house account is the first credit a new contractor gets and the one that decides whether the next ten jobs can be materials-in-hand. This lesson explains how the account works, what the application's personal guarantee means for the entity you just chose, why paying on day 28 instead of day 45 is worth more than any discount, and the piece of paper that surprises new contractors most: the preliminary notice your supplier is legally allowed to send to your customer, and what to tell the customer before it arrives.