Today’s video explains why disputes are like car crashes. You can check it out here or continue with this quick read.
Sometimes construction can be pretty hostile.
Sadly disputes are INEVITABLE. They are part and parcel of the industry.
The worst thing about them is they can be EXTREMELY EXPENSIVE.
Even if you WIN
You still LOSE money.
Buckle up for story time…
Imagine you’re driving down the road.
You’re obeying all the rules.
You STOP at the stop street and the next thing
someone rear-ends you.
Not your fault.
They get out of the car and something weird happens.
They ADMIT it’s all their fault.
You get in touch with insurance and explain everything.
Their insurance will pay for everything.
GREAT.
Or is it?
Yes, they’re paying BUT you have to go through admin, get your car fixed, hire a car, etc. etc.
When you get your car back is it worth the same as it was before the accident that wasn’t your fault?
Short answer… NO.
The moral of the story is to do your best to avoid situations like this because you never win.
This can be equated to disputes in construction.
There are two variables regarding disputes.
- COST
- ATTENTION
People only focus on the cost.
Say you’re fighting over 100K… What are the chances of you getting paid 100K by the other person?
Slim.
To None.
Resolving disputes will eat into any winnings you receive.
Unless the dispute is over a lot of money, often it’s not worth the fight.
Because dispute resolution costs money.
The attention you have to give to a dispute is HUGE.
Time is money.
And, when you can’t give your full attention to your work then you are wasting valuable time.
Thinking about disputes is draining and counterproductive.
Disputes also equal STRESS.
Often it’s better to pay a small amount to resolve them. Even if you’re right.
MORAL? AVOID DISPUTES AT ALL COSTS.
It’s never too late to start thinking commercially and getting contractually savvy. We’re here to help.
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