Australia's largest stock trading and investment forum Australia's #1 stock forum

More Morrison Mess, page-85

First 85 Last

Share
Profile

Follow
Scott th Ratbag

48,745 Posts.

652

07/06/23

23:58

Post #: 68184557
Share

Originally posted by kingpins: ↑

Hi dkit
A couple of things
I was a registered builder ( back 45 years) in two states and had to lodge a guarantee with the bank to prove my financial credibility, from memory the bond was based on the number of houses that I would build in the year, the bond was not to be used so I had to have sufficient money to conduct my business as well

Fixed price contracts have been around forever and the trick is to have sufficient leeway in the price exceptions to not fail on your payments

So two things already are the builder has to know his/her trade so as to understand the items that could exceed the fixed price and has to have been financially astute to have sufficient money in the bank

One thing has greatly changed we had people on set wages, now with contracts the price of labor is uncontrolled, therefore the exemptions must take this into account

As to trust money it totally protects the buyer and sub contractors

I have a family history of two hundred years of building houses, plus relevant proper qualifications and now you can be a street sweeper one day and a few months later a registered builder with zero experiance

Experience is essential in any job and IMHO people without it will usually fail

THIS CHANGE IS DRIVEN BY POLITICIANS AND BUREAUCRATS

Expand

thanks for that summation kp..... I agree with all but the last line.
Upvote

Reply

Top Stories

EQN

Equinox unveils some of "world's highest" antimony grades at Alturas, Canada

NMR

NMR picks up advanced gold projects in far north Queensland

UBI

Universal Biosensors flat despite fresh deal with US medical product distributor

ASX Market Open: Green Friday as markets digest Trump; China | 8 Nov 2024

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Trump is President Again: What Does This Mean for Crypto?

Trump Victory Sends Bitcoin Surging Above $75K – Is $100K Next?

MMI

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

AKN

AuKing Mining flags gold in rock chips on-site Saudi Shaib Marqan project