This episode is a re-run. It was originally published on August 2022.

Uncover the reasons why signing so-called "standard" contracts might not be in your best interest. Whether it's an AIA, ASCE (US), JCT, NEC, FIDIC (UK), or AS (Australia) contract, they all share a common flaw that makes them questionable choices for your signature. Listen up!🔊

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Timestamps:

(2:58) - If you get a contract, now what they've done is they've given the standard contract to a lawyer and they say change that contract so it looks the same

(4:06) - Standard contracts don't really exist anymore. If you get it, it's just a template that they've amended

(5:01) - If your risk is lower, then you're better, you're better off ultimately

(6:14) - If they haven't amended it, if they've amended it, it's pretty hostile and you need to be fully aware that it needs to be reviewed

(7:38) - If you can stay in construction over a longer period of time, you're pretty, you're going to do well, you're going to get a better reputation

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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Why You Shouldn’t Sign a Standard Construction Contract [#ThrowbackThursday] | Ep. 215

Construction Secrets