Construction Secrets

This episode is a re-run. It was originally published in October 2022.

Crack the code of construction tenders! Uncover the secrets to crafting winning proposals and securing your place in the competitive construction market. Tune in!

Our “Quantum Contract Advantage Service” is known industry-wide for taking construction contractors from being contractually vulnerable, losing money on project administration, and appearing amateur during bidding and negotiations to instead putting that process on auto-pilot so they can secure more contracts, with better terms, for more profit, all while reducing risk. Here's How: ⁠https://quantumcs.co/becomealegacysubcontractor⁠

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: ⁠https://quantumcs.co/LegacyFreeReport⁠

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: ⁠https://quantumcs.co/bookinthecall⁠. Jump on a free strategy session to see how we can help you!

Timestamps:

(1:39) - So tender or bid document. This is basically the document that the company who wants the work completed issues to the market

(2:23) - There's the instructions to the tenderers, the bidders. This is a document. With four or five pages that list out exactly how they want to receive your bid

(4:26) - The IOA or the FOA that stands for the instrument of agreement or the form of agreement

(5:34) - The scope of work is basically a job description

(8:02) - The order of precedence lays out the importance of the document

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

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Contract terms that build fortunes! Uncover the four construction contract terms that have the potential to make you rich in the industry. Tune in to discover how these terms can transform your bottom line!

For more videos, subscribe to our YouTube channel using this link: https://quantumcs.co/CSYouTube

Important! Before you sign your next contract, read this report on Why Subcontractors Are Going Out Of Business. Download it now - it’s Free: https://quantumcs.co/LegacyFreeReport

If you want to find out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(0:59) - In reality, what that means is if you don't comply with some of the obscure terms in the contract, they aren't paying you, end of story

(1:19) - It always helps with cash flow to ask for a prepayment

(2:09) - The time bars are killers

(2:30) -  Two days is tough on a project where there's multiple people wearing multiple hats

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

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This episode is a re-run. It was originally published in October 2022.

Don't let payment terms be a puzzle! Learn the strategies to mastering construction payment terms and elevate your financial game in the construction industry. Listen up!

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(2:52) - Understand that the concept of how can we increase the client's cashflow [is] by negotiating better things into the contract

(4:02) - There's a difference between a payment application and an invoice. They're not the same things

(6:43) - We're looking at the whole length of the process. That's what we need to count

(8:24) - Longer payment terms means lower cashflow for them

(9:27) - We've got to remember that we want to apply interest onto late payments

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

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Lawyer-free negotiations? Absolutely! Join in this Part 2 with Frank & Bo of the Building Talk Podcast as we chat about why you don't always need lawyers in contract negotiations. Learn the skills that will empower you to negotiate contracts with confidence and success. Tune in!

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want to find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(4:00) - In construction, it's all about the final quarter. All disputes, everything happens in that final quarter

(5:03) - If you're the guy with the paperwork doing the thing, chasing your money. You're going to get paid

(9:13) - It's all of the same stuff in construction, it's the same problems and the same problems have here's the clause to deal with that problem

(9:57) - You don't need to know all the different laws and all the different stuff because the contract itself will be specific on what you need to do

(13:32) - It is beautiful and it makes the society very nice when you have these kind of pillars of a beautiful building

(12:53) - If you don't know how to do work, be asked to do additional work, then do the paperwork to make sure that you get paid for that additional work

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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Standard is not enough! This podcast episode unveils the secrets of why standard construction contracts should never be taken at face value. Here’s Part 1 of my interview with Frank & Bo of the Building Talk Podcast. Listen up!🔊

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want to find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(5:54) - Cash flow is king in construction. And if you have good cash flow, you can be a good business

(9:12) - It's a big project and they don't negotiate. It's a red flag

(11:02) - They just look like a standard contract. But a lot of these contracts are like stock standards

(13:47) - How do you know what to ask for? What to negotiate in that contract?

(20:13) - Our mission is to help these companies not go out of business, to take them from their knees to their feet as an industry and be able to push back

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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This episode is a re-run. It was originally published in October 2022.

Terminate the termination risk! Learn how to shield yourself from unwarranted client terminations in construction. Listen now!

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(1:44) - They knew we can't pay these guys, but they still got them to do work. They still got them to complete work

(2:30) - You're essentially financing the project for them

(4:37) - If you can negotiate some better things upfront, you're going to save yourself a ton of money

(5:52) - The problem we have here is you can't terminate them if they default in lots of contracts

(6:58) - You're asking for what's called reciprocal termination

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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Myth-busting construction choices! Join us in this video podcast as we unravel the truths behind the self-run business versus career debate in construction. Get ready for a reality check that could reshape your professional journey in the industry!

For more videos, subscribe to our YouTube channel using this link: https://quantumcs.co/CSYouTube

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(0:46) - What is skill stacking?

(1:25) - The problem most people do is they don't skill stack. They just double down on trying to get better

(2:49) - They need the potential to build their own company without massive risk

(2:58) - Construction and owning a construction company is a great way to make money and it just takes action

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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From blame to clarity: Discover who holds the responsibility for on-site mishaps and ensure your projects stand strong against potential risks! Listen now!🔊

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(1:21) - The term indemnification itself, It's a clause in the contract that's critical to your business's survival

(1:58) - Everyone has to deal with indemnity clauses, no matter how much responsibility they have

(3:22) - Indemnity clauses are not created equal

(4:05) - This is important because it's not only what keeps you safe, but also makes things fair for everybody involved

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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This episode is a re-run. It was originally published in September 2022.

Dive deep into the details and ensure you're 100% in the know before you sign your construction contracts! Tune in! 🔊

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want to find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(2:12) - You're going to negotiate on terms and price. You can negotiate on your contract

(3:56) - Security more often than not is going to be a bank guarantee. Or it's going to be retention. And sometimes it can be an insurance bond as well

(5:38) - If you don't complete the works before that PC [Practical Completion] date, you're going to get hit with potentially liquidated damages

(7:09) - When your contract talks about security, does your security increase based on your contract value increase, or does it remain on the original contract value?

(8:49) - The contract starts on the date you sign it and it ends at the end of the defects liability period

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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Negotiate your way to construction success! Learn about the essential strategies and tactics that could fuel your projects to new heights in this Part 2 of my interview with Ron Nussbaum. Listen up!

Construction Companies doing $5M+!📣 We have created a FREE REPORT, packed with information gathered from over 4000 Contract Reviews. In this report you will find The 3 Things You Need To Negotiate In Every Contract. Click Here to find out how you can sign low-risk contracts, boost cash flow & improve your profit margin. https://quantumcs.co/downloadthereport

If you want find to out more, book a 30-minute, no-obligation call with one of our contract experts: https://quantumcs.co/bookinthecall. Jump on a free strategy session to see how we can help you!

Timestamps:

(2:30) - They'll have their project manager on-site and as a side hustle to getting stuff done, on his day-to-day job, his side hustle is to do all the paperwork

(3:35) - In the contracts world, if you don't do that, then they don't pay you and they use it as a tool not to pay you to save money

(5:33) - How many people are following you rather than how many people are you managing

(11:35) - Do you help guys write their contract for when they submit bids or do you just review?

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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