9. Ensure Your Contract Is Watertight
9. Ensure Your Contract Is Watertight (Image 9 of 11)
If you can get your contractor to agree on a penalty clause, great. If you’re doing a big project like Wembley Stadium, you’ve got the power to get one. So many small contractors just won’t do it – they’ll think you’re getting off on the wrong foot. And if you’ve got a great contractor, you just won’t need one. If you have found someone highly recommended, you’ve visited their former clients, you’ve got a good contract that specifies the job, when it finishes and how much it will cost, you shouldn’t need one, and if you insist on one, you might lose them.
What I want to say is, yes insist on a penalty clause – but in the real world you might lose a good contractor to another job. There has to be an element of trust. If you’ve got all that other paperwork in place, contract signed, schedule of works, price in black and white, you’re protected anyway. They can’t run away anyway, you can sue them. If they’re a reputable, established contractor, they don’t want to do a bad job or get a bad reputation, or be sued by you, either.
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