Every construction company must have a good construction attorney. Meet with your attorney at least twice a year. List out the most important "red-flag" clauses to look for and decide what you will and will not sign. Remember, you have the right to sign only what you agree with. Never sign an unfair contract. If you are being asked to sign something you feel is unfair, meet with your customer and negotiate fair terms agreeable to both parties. If they won't budge, it is your choice. Weigh the risk of signing and agreeing to clauses that are unbalanced and then make a decision based on a clear understanding of what you are in for. Some contractors review a contract and then cross out the inappropriate clauses or change what they don't agree with, initial the changes and then sign the contract. This is not a guaranteed way to win a dispute and in some states this practice will not hold up in court.
9. Execute contract
The construction business is risky enough without unfair contracts. So, before you execute any contract, follow thesenine9 steps and start out every project on a fair and level playing field.
George Hedley is a professional business coach, popular speaker and best-selling author of "Get Your Business to Work!" and "The Business Success Blueprint For Contractors" available at his online bookstore. He works with business owners to build profitable growing companies. E-mail: email@example.com to request your free copy of "Winning Ways To Win More Work!" or sign up for his free monthly e-newsletter. To hire George to speak, be part of his ongoing BIZCOACH program, or join one of his ongoing Roundtable Peer Groups, call 800-851-8553 or visit www.HardhatPresentations.com.