Conflict can be a huge expense for building contractors. It can cost a contractor thousands of pounds in lost time, delayed payment, lost wages, and court costs. Conflict can also bring a lot of unwanted stress, bad publicity and loss to reputation which can potentially contribute to loss of business and clients.
A mediator can help a contractor eliminate these potential hazards and pitfalls that conflict brings. This article will look at 3 very impactful ways in which a mediator or conflict resolution professional can help contractors save money and grow their business.
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In an effort for companies to mitigate their risk, many contracts contain arbitration clauses as the norm. This type of clause requires arbitration as a form of alternative dispute resolution if a dispute over the contract arises, and although such clauses are extremely useful in some cases and have helped many get on with business as usual after a dispute arises, they are not necessarily the best in all circumstances.
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