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Episode 14 - How Builders DEED Away Their Debt
This week on The Subbies Toolbox Podcast, I'm unpacking one of the most frustrating situations subcontractors face in commercial construction.
What happens when a builder tells you they can't pay?
More importantly, what happens when they offer you a deal instead?
After a recent conversation with excavation contractor Jimmy Starbuck, I found myself reflecting on a story that will sound familiar to many Aussie subbies. A developer convinced multiple subcontractors and suppliers to keep working despite not being paid, relying on the promise that everyone would get looked after at the end.
It raises an important question.
When a builder says they're going broke, should you believe them?
In this episode, I explain how deeds of release are commonly used to settle debts, the warning signs subcontractors should be watching for, and why relying on the insolvency system as your safety net is rarely a winning strategy.
We also talk about trade credit insurance, accounts receivable escalation procedures, and how to position yourself so you're making decisions from a place of strength instead of fear.
In this episode:
Resources
Tired of builders pushing you around? Arm yourself with the Subbies' Toolbox Membership
Want to negotiate better contract terms? Explore Negotiation School
Get Free Checklists, Templates and guides here www.subbiestoolbox.com.au
Get Your Fix on Social Media
Follow Michelle on Linked In - HERE
Follow Michelle on Instagram - HERE
Follow Michelle on Facebook - HERE
Rate and Review the Podcast
If you like what you’re hearing on The Subbies’ Toolbox Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
About the Host
Michelle Cirson is construction lawyer, adjudicator and former commercial builder’s CA who now works exclusively with Australian subcontractors. She helps commercial subcontractors manage their builders’ contracts and get paid on time, without losing jobs and blowing up builder relationships. Michelle is the founder of The Subbies Toolbox Membership.
If you want to understand how this system actually works and where subcontractors tend to get caught out, you’ll find more resources at www.subbiestoolbox.com.au
View all episodes
By Michelle CirsonThis week on The Subbies Toolbox Podcast, I'm unpacking one of the most frustrating situations subcontractors face in commercial construction.
What happens when a builder tells you they can't pay?
More importantly, what happens when they offer you a deal instead?
After a recent conversation with excavation contractor Jimmy Starbuck, I found myself reflecting on a story that will sound familiar to many Aussie subbies. A developer convinced multiple subcontractors and suppliers to keep working despite not being paid, relying on the promise that everyone would get looked after at the end.
It raises an important question.
When a builder says they're going broke, should you believe them?
In this episode, I explain how deeds of release are commonly used to settle debts, the warning signs subcontractors should be watching for, and why relying on the insolvency system as your safety net is rarely a winning strategy.
We also talk about trade credit insurance, accounts receivable escalation procedures, and how to position yourself so you're making decisions from a place of strength instead of fear.
In this episode:
Resources
Tired of builders pushing you around? Arm yourself with the Subbies' Toolbox Membership
Want to negotiate better contract terms? Explore Negotiation School
Get Free Checklists, Templates and guides here www.subbiestoolbox.com.au
Get Your Fix on Social Media
Follow Michelle on Linked In - HERE
Follow Michelle on Instagram - HERE
Follow Michelle on Facebook - HERE
Rate and Review the Podcast
If you like what you’re hearing on The Subbies’ Toolbox Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
About the Host
Michelle Cirson is construction lawyer, adjudicator and former commercial builder’s CA who now works exclusively with Australian subcontractors. She helps commercial subcontractors manage their builders’ contracts and get paid on time, without losing jobs and blowing up builder relationships. Michelle is the founder of The Subbies Toolbox Membership.
If you want to understand how this system actually works and where subcontractors tend to get caught out, you’ll find more resources at www.subbiestoolbox.com.au