Cian BrennanFounder, Quantum Contract Solutions · Founder

Real talk about construction disputes

Name: Real talk about construction disputes
Uploaded: 2022-12-27T01:00:00+00:00
Duration: 56 s
Channel: Cian Brennan
Description: A construction veteran argues that accepting a 5-10% concession in a dispute beats arbitration, which costs £100,000 plus expert fees and months of…

27 Dec 2022 · 1 min

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A construction veteran argues that accepting a 5-10% concession in a dispute beats arbitration, which costs £100,000 plus expert fees and months of internal resources. Quick settlement leaves you stronger than winning on principle.

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Here is something that you need to know about construction disputes. Having been through hundreds and hundreds of disputes in my career in construction, it is better to take a 5 to 10% hit on whatever it is you're trying to negotiate than getting into a formal dispute. So to go to arbitration is going to cost you £100,000 just out of the gate, or whatever sort of construction, you're going to have to pay experts to prepare documents for you or letters for you, or even in-house, the amount of time and effort and energy and tension that it's going to give to you, it is going to cost you far more than 5 to 10% of whatever you're trying to negotiate. So bear that in mind when you're in a dispute. It's already happened. It's way better to avoid the dispute in the first place, but if you're in one, be prepared to give away 5 to 10% just to get rid of the issue. This is something I learned recently in our business as well. It's definitely just better instead of trying to win. Let's just get rid of this issue as quick as possible. You're going to come out way more on top.