Getting Paid for Parts and Service

[Source: INEDA, 11.2016 | Keywords: Business Operations, Liens] Sometimes it is necessary to exercise your legal rights when a customer fails to pay for parts and service. This article will help you understand those rights under Iowa and Nebraska law, and how those rights are exercised. While the employee who actually provides the services and/or...…

Problems with Blanket Liens

Have you ever been tripped up by a blanket lien? Members of the Iowa-Nebraska Equipment Dealers Association are increasingly confronting issues regarding security interests held by banks in equipment they either purchase outright or accept in trade on other equipment from customers. Samuel I. Kreamer, J.D., C.P.A. of Kreamer Law Firm has put together three...…

UCC Filings – Are You Doing Enough to Protect Yourself?

[Author: Mark Othmer, Nebraska Field Director, 2013 | Keywords: Business, Operations, Liens] Over the past year, I’ve had several conversations with dealers regarding incidents where the dealer felt they were protected in connection with a UCC filing, only to discover they were not. While I don’t profess to be an expert, I have done some research and...…

Artisan’s Lien: How much protection does it provide?

[2013 | Keywords: Business, Operations, Liens] When the farm economy starts on a downhill trend, most dealers begin to worry about accounts receivable and how they will get paid when their service department makes major repairs to a customer’s equipment. Many dealers hire a third party company, such as Farm Plan or Case Credit, to...…

How much would you pay for something you won’t own?

[Author: Samuel I. Kreamer, J.D., C.P.A., Kreamer Law Firm, P.C., 2016 | Keywords: Business, Operations, Liens] For some, the answer to this question is, “tens of thousands of dollars.” This is an increasingly common situation facing dealers. An item is taken by a dealer as a trade-in from a customer on a new purchase. After the trade-in...…