Undertaking a construction job is a major project that carries inherent financial risks for all parties involved. Getting the right contracts in place is a crucial part of ensuring that both homeowners and tradespeople are protected.
We’ve all heard the horror stories of Tradies getting paid months late, not getting paid on time, or not getting paid at all. As we keep seeing, late payments are having a devastating impact on small and medium sized businesses in the Australian economy.
On the homeowner side we’ve heard of homeowners handing over large sums of money without seeing any work, or jobs being done that they’re just not happy with.
Having the right contracts in place and a system like TradeEpay to secure payments and open up clear and transparent communication between tradies and homeowners can go a long way to alleviating the stress of a construction project.
The Australian Government business site has a great article on the different types of contract, that we recommend all people considering a renovation or build to have a read of: