This episode is a re-run. It was originally published in April 2023.

Most subs think the money is made on site.

It's not. It's made in the terms.

I've seen tier ones win projects at a loss because they know they can claw the margin back post-award through variations and EOTs.

Meanwhile the subs underneath them are signing the worst version of the contract, because nobody told them there was a game being played.

If you've ever felt like you're doing all the work and somehow keeping none of the profit, tune in.

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Timestamps:

(1:44) - The returns are in the terms, that's where your money is made

(5:10) - Liquidated damages are to compensate your client for the delay and the cost of the delay

(8:37) - A lot of times there's an option to submit an alternative bid

(18:56) - There can only be one angry man in the boat

(22:24) - Chat GPT is very very powerful so it's just gonna continue to get better

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.

Structuring Deals and AI in the Construction Industry ft. Will Foret & Justin Neagle Pt. 2 [#ThrowbackThursday] | Ep. 423

Construction Secrets

Structuring Deals and AI in the Construction Industry ft. Will Foret & Justin Neagle Pt. 2 [#ThrowbackThursday] | Ep. 423