Join us as we explore the critical factors that can make or break your business. Discover why Pre-Payment and Contract Negotiation are essential for achieving long-term success in your Construction Business.💡 Here’s my interview with Ruth King of the Contractor Cents Podcast. Listen now!

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

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Timestamps:

(4:26) - You can set yourself up to have better cash flow, better margin, and avoid disputes. That's why we try to negotiate better contracts

(5:08) - If you can get a prepayment upfront, it makes your cash flow for the whole project so much better

(6:05) - If you're in construction long enough, you know that there will be changes and there'll be delays. And if you're good at the paperwork, you're going to make your margin back in the post-award phase

(11:23) - The first thing that tends to happen is you'll do work and the client won't approve your change order for ages, for a long time, and that kills your cash flow again

(13:31) - The termination clause in the contract needs to be very clear that you can terminate the contract if they don't pay you

(15:38) - The problem is, depending on the size of your company, loss of profit of your clients could be big enough to end your company

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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Better Cashflow with Contractor Cents | Ep. 172

Construction Secrets