Are YOU Ready for JCT 24 Contracts?

In episode 86 of The Subcontractors Blueprint podcast, host Jacob Austin explores the key differences between the JCT 2024 and JCT 2016 contracts. He discusses updates in design liability, communication methods, dispute resolution, payment provisions, and new clauses on sustainability and building safety. Jacob emphasises the importance of subcontractors understanding these changes to manage risks and ensure profitability. He advises listeners to update their contract templates and practices to align with the new JCT 2024 standards. This episode provides essential insights for subcontractors aiming to stay competitive and successful in the evolving construction industry.   KEY TAKEAWAYS:  Differences between JCT 2024 and JCT 2016 contracts  Updates in terminology and procedural changes  Changes in design liability standards  Modernisation of communication methods (email and electronic signatures)  Introduction of early dispute notification and resolution processes  Clarification of payment provisions and termination payments  New clauses related to sustainability in construction  Compliance with the Building Safety Act   BEST MOMENTS: "Email is finally in. So in JCT 16 formal notices often had to be on paper... But now in the 24, for the majority of notices are able to be sent by email." "Parties now need to work in a cooperative and collaborative manner, in good faith and in a spirit of trust and respect." "The important thing that you need to do here is to ensure that your team understands what the legislation is, and what you need to do to comply with it."   Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on. HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at construction industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from £1000s to £100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories. LinkedIn - www.linkedin.com/in/jacob-austin/ Instagram - www.instagram.com/qs.zone/ www.qs.zone/all-links