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How To Protect Yourself When Hiring a Contractor
Manage episode 440131250 series 3395808
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How to Protect Yourself When Hiring a Contractor
Transcript
https://otter.ai/u/2UDhmFNNT5Mi5I5J69fZJrMNxlI?view=transcript
Action Items
- 🤯 Conduct thorough background checks on contractors before hiring
- 🤷🏽♀️ Partner with someone who can run credit checks on contractors if unable to do so directly
- 😎 Present attractive proposals to contractors to get bids
- 🤓 Shop around and get bids from multiple contractors, don't just go with one
- 🤓 Negotiate payment terms and conditions that fit business budget needs
- 🧐 Review for any legal risks with contractors
- 😌 Ask for Release of Lien documents from contractors for any materials installed
- 🏘️ Maintain regular communication and monitor contractor performance
- 🏡 Include an early termination clause in contracts in case of failed inspections
- 🗣️ Reconcile invoices to contract before making payments
Blog: Your Must-Know Contractor Hire Checklist! Don't Miss It!
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SUMMARY KEYWORDS
#Contractor #LeadBasedPaint #Contract #Property #PayVendor #Liens #Remediate #Budget #Business #ManagePeople #Inspection #Agreement #Supplier #CertifiedTechnician #MaterialSuggest #BiddingWar #Money #VendorSelectionProcess #VendorSelectionCriteria #VendorSelectionProcessPDF #VendorSelectionExample #VendorSelectionTemplate #VendorSelectionCriteriaChecklist
#VendorSelectionProcessFlowchart #VendorSelectionCriteriaExamples
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