Documentation is crucial in the classroom. Sometimes it's hard to keep track of who has turned in which assignment or how many assignments a student might be missing.
The No Homework Binder is meant to put responsibility on the students for keeping track of the assignments they do not have ready to turn in on time and why.
In my classroom, I gave each student a sheet of their own and organized the sheets by alphabetical order. During class I pass around the binder and students who do not have their homework fill out a space on their sheet for that assignment. You'll be surprised how honest students are on the sheet!
You could set a number of missing assignments as a cutoff and then require students to call home, you can bring out the binder at conferences, and have students use the binder when you get the question "Am I missing anything?"
Of course it's not "perfect" as some students may refuse to sign or absent students may not remember, but I use that as documentation as well. If a student never signs the binder but has a low grade, I show that to parents as well.