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What is the ICPC?

The Improved Construction Practices Committee (ICPC) is a standing committee of the National Association of Credit Management. The committee presently consists of 28 members who are committed to its purpose and function to study and attempt to improve credit and financial practices in the construction industry and laws governing such practices. Committee members make reasonable and proper attempts to resolve questions of interrelated and interdependent requirements practically and equitably.

Efforts toward these goals are made through articles in Business Credit and through bulletins and newsletters addressed to NACM affiliated associations and membership. When occasion demands, we make recommendations to the NACM Board of Directors on credit legislation affecting the construction industry. The committee also maintains a continuing program to establish state-level construction industry practices committees and credit groups.

We meet quarterly in conjunction with the National Association of Construction Credit Managers. Contributing to the membership are liaisons from the American Insurance Association, American Sub-contractors Association, the Surety Association of America, the NACM Board, and the Contractors Consulting Service.

Three primary sub-committees exist: State Legislation, Federal Legislation, and Special Committees. Committees reporting to State Legislation are Judicial Decisions, State Legislative Review, and State ICPC Committees. Those reporting to the Federal Legislation Committee are Bankruptcy, Miller Act, Prompt Pay Act, Direct Pay, and New Regulations. The Special Committees consist of Credit Education, Pennsylvania Effort, Publicity, Resolutions, and Membership.

Making a Difference Locally

Keeping abreast of legislation in each state that affects both residential and commercial construction is the goal of the State Legislation Committee. Because each member monitors assigned states, we are in an excellent position to ascertain the status of proposed bills and react swiftly. As an additional source of information, we are establishing ICPC committees in each state, composed of NACM members interested in legislation that may affect their business. These members, if and when the need arises, would testify in support or opposition of bills the national ICPC feels are in the best interest of those we represent.

The Judicial Decisions Committee tracks court cases of interest. Some recent decisions regarding personal guarantees, preference payments, loss of lien rights, and pre-notices found to be unconstitutional, have had a tremendous impact on credit extension and collection policies.

The State Legislative Review Committee sorts through the bills that directly pertain to our purpose and function and the Resolution Committee prepares the documentation of our intent and forwards the resolution to the NACM Board.

The Bankruptcy Act, Miller Act, Prompt Pay Act, and issues related to direct pay are the special responsibility of the Federal Legislative Committee. We were pleased to see our efforts materialize this past year when the Senate approved S. 1985, the Omnibus Bankruptcy Bill, directed in part, to the new Chapter 10, the Deprizio decision, and compensation for creditors' committees.

A primary function of the Education Committee is the ICPC Newsletter, published quarterly, and distributed by NACM to affiliates. The content is taken from our committee minutes and includes the many changes in state and federal laws, court cases, and our agenda.

The New Regulations Committee reviews rules and regulations currently as they are published by the federal government. Our response is either direct or through our lobbyist in Washington, D.C.

Our Pennsylvania Effort Committee has been actively working to change the Pennsylvania Mechanics Lien Law. The chairman recently testified at a hearing in Harrisburg, Pa. in support of H.B. 2641, which favors sub-contractors and material suppliers and closely resembles the uniform mechanics lien law.

Law Library Is Planned

Our future agenda includes establishing a library of the actual mechanics lien and bond laws of each state and making it available to NACM members.

The ICPC is proud of its many past contributions to our industry, which has had a direct influence on the construction credit management membership.

The committee now feels the need to involve more NACM members. Establishing state level ICPC committees, the quarterly newsletter, the library of mechanics lien and bond laws, plus many other programs on our agenda, will keep members advised of the constant changes that affect the level of the playing field and how we conduct our business. We look forward, with confidence, to the challenge of the future.

Articles or ideas relating to construction credit issues are welcome. Please submit them to: NACM, Attn.: ICPC, 8815 Centre Park Drive, Suite 200, Columbia, MD 21045-2117.

Donald Treiber is chairman of the ICPC and credit and collections manager, Clow Water Systems Company, Coshooton, Ohio.
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Title Annotation:Improved Construction Practices Committee of the National Association of Credit Management
Author:Treiber, Donald
Publication:Business Credit
Date:Feb 1, 1993
Words:743
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