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Here are some more gems by Michael (graves) Stone to discuss:
Customer wants penalties in contract for failure to meet completion dates
This is all well and good as long as you can put in a bonus clause of equal or more value for finishing the job early.
I once had a fellow tell me that he was going to insist there be a penalty clause of $500 a day for every day that the job ran over the time schedule for his job. Without a second thought, I told him that was fine as long as he was prepared to pay an additional $500 per day for every day we finished the job earlier than the completion date.
His face got red and he said, “No, you will just cut corners to get the job done quicker. I will not sign any contract with a bonus system for early completion.”
I must have been on that sales call all of 30 seconds longer. Fair is fair.
Customer wants penalties in contract for failure to meet completion dates
This is all well and good as long as you can put in a bonus clause of equal or more value for finishing the job early.
I once had a fellow tell me that he was going to insist there be a penalty clause of $500 a day for every day that the job ran over the time schedule for his job. Without a second thought, I told him that was fine as long as he was prepared to pay an additional $500 per day for every day we finished the job earlier than the completion date.
His face got red and he said, “No, you will just cut corners to get the job done quicker. I will not sign any contract with a bonus system for early completion.”
I must have been on that sales call all of 30 seconds longer. Fair is fair.