In episode 100 of The Subcontractors Blueprint podcast, host Jacob Austin explores the NEC4 Engineering and Construction Subcontract’s change management processes. Focusing on the early warning and compensation event procedures, Jacob highlights the importance of proactive communication, timely notifications, and understanding time bars. He explains how these processes help subcontractors manage risk, secure fair compensation, and avoid disputes. The episode offers practical advice for construction business owners on navigating NEC4 contracts, emphasising the need for diligence and collaboration to ensure project profitability and success.
KEY TAKEAWAYS:
- Early warning process and its significance
- Compensation event process and its implications
- Importance of timely notifications in contract management
- Consequences of failing to adhere to notification obligations
- Procedures for notifying early warnings and compensation events
BEST MOMENTS:
"Early warnings aren't about apportioning blame. They're about avoiding nasty surprises that cost everybody money."
"In this context, silence can mean yes, it's one of the only times in contracting that it can."
"If you wait too long to notify an event, you could lose your right to any compensation."
"The rationale behind the time bar is to encourage prompt notification and avoid claims being raised long after the fact."
"It's far better to potentially over notify than miss a critical notification."
Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on.
HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories.
LinkedIn - www.linkedin.com/in/jacob-austin/
Instagram - www.instagram.com/qs.zone/
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