Did YOU See The Fine-print?: How Float and Delay Clauses Can Impact Your Bottom Line

In episode 108 of The Subcontractors Blueprint podcast, host Jacob Austin covers the crucial topics of program float ownership and concurrent delay clauses in JCT subcontracts. He explains the risks subcontractors face when float ownership isn’t defined and how recent contract amendments can shift delay risks onto subcontractors. Jacob also discusses the impact of concurrency exclusions and offers practical advice on contract negotiation, program management, and risk mitigation. This episode equips construction business owners with essential knowledge to better protect their interests and profitability in today’s complex contracting environment. KEY TAKEAWAYS:  Float ownership and concurrent delay clauses can significantly impact subcontractor’s risk and liability.  Float refers to spare time in a program; under standard JCT contracts, float is unallocated, but amendments often allow contractors or employers to claim it, disadvantaging subcontractors.  Concurrent delay occurs when both the subcontractor and contractor/client cause overlapping delays; industry practice (the Malmaison approach) typically grants time but not money for these.  Recent contract amendments increasingly exclude extensions of time for concurrent delay, shifting all risk onto subcontractors and exposing them to damages even when not fully at fault.  Subcontractors are advised to carefully review and negotiate contract terms related to float and concurrency before signing, to avoid hidden risks.  Proactive program management, timely notices, and potentially pricing in risk can help subcontractors protect themselves from unfair contract amendments. BEST MOMENTS: "Industry practice has generally treated float as a shared project resource—whoever finds it first gets to use it." "Employers and main contractors have been dropping similar concurrency exclusion clauses into their contracts, and that decision has changed the game." "Heads the contractor wins and it's tails you lose." "Read your subcontracts to understand whether these kind of amendments are being made... here's your weekly reminder to read your subcontract before you sign it." "These aren't legal abstract toys that we're talking about. These are actual mechanisms that decide who pays for time."   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