Contractor/Subcontractor or Russian Roulette Player, Which are You?

As a Contractor or Subcontractor are you playing Russian roulette with your business, how many times will you get to spin the cylinder before your luck runs out?

The above statement may seem stark or a little over the top but the reality is this is exactly how many Contractors and/or Subcontractors behave when it comes to the Contracts they execute.

I recently had a new Client send me a Contract for review, his advice to me was that “…it’s all pretty standard, there’s a couple of things I highlighted, should only take you a few hours to read through” … 8 hours later, I had identified 26 matters which needed attention, some serious, others not so serious.

My Client thought everything was ok, but it wasn’t, now, my question to you is, how many unknown unknowns, to use the famous phrase coined by the US Secretary of Defence Donald Rumsfeld, are you signing up to when you execute a Contract?

Regardless of how you choose to address risks and / or opportunities in Contracts, you should at the very least be aware of what you are signing up to, forewarned is forearmed as they say!

Since setting up in 2018, Verstand Group’s expertise has primarily been utilised by Clients to rescue distressed projects with multiple variations and/or claims (time and cost) either unpaid, rejected or assessed at a severe discount. Whilst we have added, and continue to add, significant value in this respect, we couldn’t help but notice a number of recurring problems, including:

• Executed Contracts not reflecting both parties final position or understanding at tender stage;
• Poor record keeping and contract administration processes, making otherwise valid claims difficult or impossible to pursue;
• Failure to fully understand the contractual implications of events as they unfold, resulting in time barred claims, poorly constructed and/or articulated claims and unintended breaches of contract.

At Verstand Group we are firm believers in the old adage a stitch in time saves nine, accordingly, in addition to our other services, we have come up with a number of cost effective solutions to the recurring problems identified above.

If you’re a Contractor and / or Subcontractor who wants to ensure the commercial wellbeing of your company, message me or give me a call on +61457 213 454.

For a detailed list of the services we provide, please see the link to our website below.

https://verstandgroup.com.au/

At Verstand Group, we are so confident in our ability to deliver value for our clients that we offer a 100% money back guarantee, if you’re not satisfied, we don’t expect you to pay!