How Subcontractors Can Increase Jobs and Have Fewer Disputes Part 1
Subcontractors are a popular and vital part of construction industry, but if you want to separate yourself from the crowd, you’ll want to be known for more than just your price. You want to be known as the subcontractor that gives more than just the bare minimum and performs better than the rest. Our Tallahassee construction lawyers will share the qualities that will lead to more jobs and fewer disputes. For more tips, read part two of our article.
It’s easy to get caught up in a bidding competition and bid low on a project just to win. Our Tallahassee construction lawyers understand the desperation some subcontractors may feel when they need to secure a project in order to run a profitable business. However, we strongly advise you to bid for what you can handle. You’ll do yourself, your crew, and the general contractor a favor when you bid on projects you have the bandwidth for. Besides, the risk of bidding too low is too risky for the entire project operation.
Have Your Finances in Order
This brings us to our next point—finances. Construction projects come with many financial risks, this is why a lack of capital will set you up for disaster. When you don’t have enough money or credit available to take on a new project, the entire operation can face a number of issues from project delays, substandard work, lost profits, to insolvency. As a subcontractor, your reputation will be weakened and contractors are less likely to hire you in the future. In order for a project to run efficiently, a subcontractor’s cash flow has to be in order.
Abide by the Contract
Subcontractors can be so excited about a new job prospect, that they may not read the subcontract in its entirety. As experienced Tallahassee construction lawyers, we know this is a big mistake. Your contract is the blueprint for the entire operation. It will include vital clauses that will tell you how to handle changes, give proper notice, and handle disputes. It will also communicate the schedule, change order procedures, item approvals, payment procedures, and so on. Ignorance regarding these important components will only increase the likelihood of breaching your contract.
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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.