E25 - with Nicole Wilson, GFL Enviornmental
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Waste. A practical necessity on any jobsite. This week we're joined by Nicole Wilson, Account Manager at GFL Environmental, to straight up talk trash. Nicole also touches on LEED... We're fascinated to hear about your LEED projects - if you know one or have completed one, send us a message! Not sure what LEED is? That's what this podcast is for. Plus we start with some contract tips for your business and talk women in construction. For more on contract advice (we're not lawyers blah blah blah), scroll down!
How contracts work. And how to use them. |
Contracts can be the blueprint for a smooth project or a roadmap to a headache (or lawsuit). Here are five practical things every contractor should know about their contracts:
1. Scope of Work
- Clarity is Key: Ensure every task, no matter how small, is clearly defined.
- Avoid Assumptions: Don’t assume anything is understood; write it down.
- Changes: Specify how changes in the scope will be handled and documented.
2. Payment Terms
- Milestones: Outline clear payment milestones tied to project progress.
- Retainage: Understand the percentage of payment held until project completion.
- Late Payments: Include penalties or interest for late payments to protect your cash flow.
3. Timeline and Deadlines
- Project Schedule: Establish a detailed timeline with key milestones.
- Delays: Define acceptable reasons for delays and how they’ll be communicated.
- Consequences: Outline consequences for missed deadlines on both sides.
4. Liabilities and Insurance
- Coverage: Ensure you have adequate insurance coverage for the scope of work.
- Indemnification: Understand who is liable for damages or injuries and under what circumstances.
- Risk Management: Clarify the process for handling unforeseen issues and risks.
5. Dispute Resolution
- Methods: Include steps for resolving disputes, such as mediation or arbitration, before heading to court.
- Jurisdiction: Specify the jurisdiction in which legal disputes will be resolved.
- Timelines: Set deadlines for raising and addressing disputes to avoid prolonged conflicts.
Bonus Tips
- Termination Clause: Know under what conditions the contract can be terminated by either party.
- Force Majeure: Include clauses for unforeseen events like natural disasters or pandemics that might impact the project.
- Documentation: Keep meticulous records of all communications, changes, and approvals related to the project.
