Turnover is Vanity, Profit is Sanity, but Cash is King for your Business

Turnover, profitability and liquidity are all functions of and rely upon cash flowing into an entity exceeding cash flowing out. This article examines the preparation of cash flow projections, payment methods and the challenge construction contractors face in endeavouring to maintain a positive cash position. It examines how a preliminary cash flow forecast might be prepared and updated to keep abreast of the effect of the uncertainties involved in any construction project. Read More →

Disruption Claims – The Art of the Possible

The issue of disruption claims is in our collective experience widely misunderstood and often badly evaluated, prepared and presented.

Recently published in Construction Law Journal, this article provides advice on a way to establish quantum values for disruption claims or loss of productivity claims on construction projects.
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How to save money in Disputes & Arbitration

Anyone who has experience of construction disputes or arbitrations will know that they can be expensive; time consuming; with uncertain results based on a lack of understanding of the construction processes.

Published in Construction Law this advice discusses how contractors and consultants can minimise disputes and those costs by simply following the contract from the outset. The keys to success are; timely notices, clarity of information and reasonableness. In reality, it is no more than applying the contract in a timely manner and seeking solutions to problems, actual and foreseen, as opposed to leaving everything to the end.

It is no more than common sense but alas not always common practice. Read More →

Truth is rarely pure, and never simple

In this second part of his two part article on the Importance of being Earnest written for Construction Law, Iain Wishart proffers his opinion on what he perceives to be the gradual erosion of independence in experts. He also provides advice to contractors and employers as to what they ought to do to avoid disputes; his experience of and benefits of contractor input into the design processes; and finally an unusual (and highly successful) use of independent experts. Read More →

The importance of being Earnest

The first part of a two part article recently published in Construction Law. It concerns the need and obligation of the parties involved in construction projects, to be just that, sincere and earnest in their desire to make the project a success. Read More →

Follow the Money

Published in Construction Law Journal the title of Iain Wishart’s article was inspired by the advice given by Mark Felt Associate Director of the FBI to the Washington Post investigators Woodward and Bernstein during the Watergate scandal. That advice resulted in the resignation of the then US president Richard Nixon. Iain structured his advice to those involved in the construction industry based on his extensive experience working major international contractors. He identified common mistakes made during all stages of the construction process. He advised contractors to be vigilant at all times by “following the money” on the project and to be alert for errors that might result in disastrous losses. Read More →

Delay and Disruption – a Separable Duo

This article published in Construction Law Journal identifies the differences between delay and disruption; provides advice and worked example as to how best to assess and support disruption costs; and provides an example as to what might happen if global claims are submitted. Read More →