Welcome to the Construction Secrets podcast where we talk about signing better construction contracts, getting better project cash flow and making more profit p...
THIS Kills Your Margin on Your Construction Project [#ThrowbackThursday] | Ep. 369
This episode is a re-run. It was originally published in June 2023.Your construction project looks successful on paper, but your margin tells a different story. Could you be making this common mistake? Click play to find out what’s costing you and how to fix it!Struggling with unfair contracts or slow payments in construction? With 6,000+ contracts reviewed and $20 billion in contracts managed, Quantum Contracts' proven framework is designed to help you negotiate fair contracts, secure faster payments, avoid disputes, and improve cash flow.Don’t let contract issues hold you back—gain the confidence to focus on growing your business. Ready to take control and make more profit per project?Click here to IMPROVE your contracts using the Quantum Contract System: quantumcs.co/Yt2025Click here to BOOST your profit margins up to 15%: quantumcs.co/YtO3SimpleChangesClick here to GAIN expert advice weekly for FREE: quantumcs.co/YTNewsOptInTimestamps:(4:07) - They are entitled to be paid for what you agreed in their contract and the work that they've done(5:35) - They're entitled to be paid for the costs unless the contract says different(5:57) - If they’re terminating you in the contract, you are entitled to get paid for demonstrated actual costs(6:32) - You should be entitled to claims for the costs that you have incurred(7:04) - Check your termination clauses, check your variation clauses in your contracts that you signedDISCLAIMER: 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! ⤵️Facebook | LinkedIn | YouTube | Instagram | TikTok | Twitter
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7:22
5 Shocking Things About Construction Contracts [#ThrowbackThursday] | Ep. 368
This episode is a re-run. It was originally published in June 2023.Most people sign contracts without reading the fine print, but these will make you think twice. Don’t sign another one until you hear these 5 shocking truths—listen up to learn more!Struggling with unfair contracts or slow payments in construction? With 6,000+ contracts reviewed and $20 billion in contracts managed, Quantum Contracts' proven framework is designed to help you negotiate fair contracts, secure faster payments, avoid disputes, and improve cash flow.Don’t let contract issues hold you back—gain the confidence to focus on growing your business. Ready to take control and make more profit per project?Click here to IMPROVE your contracts using the Quantum Contract System: quantumcs.co/Yt2025Click here to BOOST your profit margins up to 15%: quantumcs.co/YtO3SimpleChangesClick here to GAIN expert advice weekly for FREE: quantumcs.co/YTNewsOptInTimestamps:(1:51) - The first thing is not having a reciprocal termination clause(2:34) - You need to make sure you have what's called reciprocal termination so that you can terminate them for default(4:13) - Having no cap on your liquidated damages means that if the delay is huge, those costs could just spiral and spiral and spiral and get bigger and bigger and bigger(4:40) - Consequential damages are consequential loss, which is essentially a loss of profit(4:48) - Liquidated damages is you compensating them for the costs of you being lateDISCLAIMER: 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! ⤵️Facebook | LinkedIn | YouTube | Instagram | TikTok | Twitter
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6:43
Why Effective Contract Administration Is Vital For Success [#ThrowbackThursday] | Ep. 367
This episode is a re-run. It was originally published in June 2023.It’s not just about signing the deal—it’s about managing it effectively. Discover how smart contract administration turned one project around and why it’s vital for your success. Tune in now!Struggling with unfair contracts or slow payments in construction? With 6,000+ contracts reviewed and $20 billion in contracts managed, Quantum Contracts' proven framework is designed to help you negotiate fair contracts, secure faster payments, avoid disputes, and improve cash flow.Don’t let contract issues hold you back—gain the confidence to focus on growing your business. Ready to take control and make more profit per project?Click here to IMPROVE your contracts using the Quantum Contract System:quantumcs.co/Yt2025Click here to BOOST your profit margins up to 15%:quantumcs.co/YtO3SimpleChangesClick here to GAIN expert advice weekly for FREE:quantumcs.co/YTNewsOptInTimestamps:(4:34) - Relationships are important. The industry has definitely changed in that they are less important(7:03) - As you start off being contractual, they actually just think you're very, very professional(8:10) - If they can save costs by doing something contractually to you to make sure that you don't get paid, they will do it(8:28) - One very good tip is to submit notices if you've been delayed and managed to mitigate the risk away(8:57) - There's a contracts game at play here, it's being played whether you want to play it or not. Learn how to play itDISCLAIMER: 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! ⤵️Facebook |LinkedIn |YouTube |Instagram |TikTok |Twitter
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9:24
Why Contract Management Software Is Costing You [#ThrowbackThursday] | Ep. 366
This episode is a re-run. It was originally published in June 2023.What if the software you’re using to simplify your contracts is actually costing you more? One construction company learned the hard way. Listen now to find out why and how to avoid the same mistake!Struggling with unfair contracts or slow payments in construction? With 6,000+ contracts reviewed and $20 billion in contracts managed, Quantum Contracts' proven framework is designed to help you negotiate fair contracts, secure faster payments, avoid disputes, and improve cash flow.Don’t let contract issues hold you back—gain the confidence to focus on growing your business. Ready to take control and make more profit per project?Click here to IMPROVE your contracts using the Quantum Contract System:quantumcs.co/Yt2025Click here to BOOST your profit margins up to 15%: quantumcs.co/YtO3SimpleChangesClick here to GAIN expert advice weekly for FREE: quantumcs.co/YTNewsOptInTimestamps:(4:21) - People almost didn't use it because they didn't want to bother going through every single step and clicking it and opening it and go to the next step and the next one(6:29) - A lot of the softwares are put together by IT people and the actual people that need to use the software on construction sites are supervisors and project managers(8:31) - Think twice before you do invest because it's very expensive and it costs a lot of money(8:49) - The system itself won't put money in your back pocket(8:58) - Focus on making sure that you're getting your notices in, that you're doing all the contractual things that you should be doingDISCLAIMER: 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! ⤵️Facebook |LinkedIn |YouTube |Instagram |TikTok |Twitter
This episode is a re-run. It was originally published in June 2023.Liquidated damages: a contract term you can’t afford to overlook. Find out how they work and why they’re critical for project success – listen up!Struggling with unfair contracts or slow payments in construction? With 6,000+ contracts reviewed and $20 billion in contracts managed, Quantum Contracts' proven framework is designed to help you negotiate fair contracts, secure faster payments, avoid disputes, and improve cash flow.Don’t let contract issues hold you back—gain the confidence to focus on growing your business. Ready to take control and make more profit per project?Click here to IMPROVE your contracts using the Quantum Contract System: quantumcs.co/Yt2025Click here to BOOST your profit margins up to 15%:quantumcs.co/YtO3SimpleChangesClick here to GAIN expert advice weekly for FREE: quantumcs.co/YTNewsOptInTimestamps:(3:28) - Liquidated damages is to reimburse the client for the cost of the delay to the construction project itself(4:38) - The key thing in consequential damages is your client, more often than not, is so big that his profit or his loss of profit could be the size of your company(5:20) - What can go wrong is they can hit you with liquidated damages and then they can also take you to court as well(5:35) - We want the liquidated damages clause to say that liquidated damages are the sole remedy for delay(6:19) - The biggest thing is capping how big the liquidated damages can beDISCLAIMER: 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! ⤵️Facebook |LinkedIn |YouTube |Instagram |TikTok |Twitter
Welcome to the Construction Secrets podcast where we talk about signing better construction contracts, getting better project cash flow and making more profit per project, and the many mistakes and failures we have learned along the way. Hosted by Cian Brennan.
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