3 Ways a Legal Retainer Can Keep You in Business
Experienced contractors are familiar with the inevitability of legal disputes in the construction industry. Today’s projects can demand as much as a billion dollars to complete, which makes them ripe for payment disputes. Contractors, subcontractors, material suppliers…everyone on the project site deserves compensation for their hard work, but if these parties aren’t working together in perfect synchronicity, it can affect everyone’s ability to get paid.
You know that it’s only a matter of time before someone fails to perform their contractually obligated duties, so why wait until a crisis occurs to arm yourself with the tools to protect yourself? By keeping an Orlando construction lawyer on retainer, you can protect your firm’s financial interests and even prevent legal disputes from arising. In this article, we will detail three important ways a legal retainer can keep your contracting firm in business.
Turning a profit in the construction industry requires a coordinated effort by multiple parties to control as many variables as possible. Still, the unexpected can derail a project resulting in increased costs, missed deadlines, and defective work for everyone involved. Fortunately, an experienced Orlando construction lawyer can help you control variables by managing your contracts, advising you on best business practices, and representing you in legal disputes. You perform at your best when you can focus on the job at hand, so keep a lawyer on retainer to manage the things you don’t have the time or attention to deal with.
Be Proactive, Not Reactive
When you’re proactive in your efforts to safeguard your business against nonpayment, disputes, and legal conflicts, you can typically reach a preferential outcome. Many contractors wait until they become the target of litigation to hire an attorney. However, by keeping an attorney on retainer, contractors can prevent themselves from becoming the target of litigation in the first place. The valuable advice of an experienced construction lawyer can help you avoid disputes and mitigate the headache of dealing with them. Remember, anything that takes you out of your day-to-day duties is costing you money, which in turn, costs your business money. When it comes to maintaining compliance with construction-related laws, one wrong step could spell disaster for the business you worked hard to grow.
An Alliance for Compliance
When a contractor teams up with an experienced Orlando construction lawyer, they form a powerful alliance capable of overcoming the pitfalls that undermine other contracting firms. Compliance is important in the construction industry, and matters involving human resources, federal and state tax laws, safety management, employment law, and licensing issues can be avoided with a lawyer on retainer. When you fail to comply with construction-related laws, it can lead to civil or even criminal penalties.
If you would like to speak with one of our Orlando construction lawyers, please contact us today.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.