Why settle for average contract negotiations when you can negotiate like a pro? In this podcast, we share the expert techniques and strategies that pros use to negotiate effectively while minimizing risks. If you're in the construction business, this is a must-listen. Here’s Part 2 of my recent interview with Paul Heming of the Own the Build Podcast.

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Timestamps:

(2:56) - This concept of liquidated damages, which is a pre-agreed amount of what it would cost if you delayed them

(7:13) - We want to cap the liquidated damages, which is the cost to reimburse the clients for them being late in construction

(9:34) - They're expecting you to negotiate. That's the game

(12:12) - Whatever that number is in the main contracts just gets lifted and shifted 100% into the subcontracts, even though the subcontract is 5% of the overall or ten or whatever

(15:06) - Your final account, your last couple of invoices, payment applications are where it all goes down

DISCLAIMER: 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.

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How to Negotiate Construction Contracts Like a Pro and Reduce Risks Pt. 2 with Paul Heming | Ep. 240

Construction Secrets