Business Guidance for Tough Conditions in a Volatile Market
New research from the Pick Everard Construction Market Intelligence Survey reveals that almost seven in 10 UK construction companies fear “severe” impacts from the Middle East conflict over the next six months.
NFRC is working to ensure the struggles of specialist contractors are considered during this period and we are in direct conversation with the Construction Leadership Council’s Material Supply Chain Group.
During this period, it is worth consulting advice and guidance to ensure your business is as well positioned as possible.
NFRC has compiled the following guidance which we encourage Members to consult. Please also reach out to your regional manager if you have further questions.
Build UK guidance
With the current price volatility in energy and transport costs likely to have wider consequences for national and global supply chain prices, inflation is expected to be with the industry for some time to come. This guidance outlines how fluctuations clauses, which are present in several JCT and NEC standard form contracts, work and what they mean. It also suggests commercial steps which can help mitigate inflation and supply issues.
Contract Terms Recommendations
The guidance outlines how current construction contract practices often push excessive and unmanageable risk down the supply chain, undermining collaboration, increasing disputes, and creating inefficiencies across projects. It recommends avoiding a set of problematic terms (such as fitness for purpose obligations, uncapped liabilities, and blanket indemnities) and instead promotes fair risk allocation to the parties best able to manage it, improving project outcomes and industry sustainability.
Further Free Support
Free ARAG Legal, Tax, and Counselling Helplines
NFRC has collaborated with legal protection provider, ARAG, to offer NFRC members, a new member benefit providing free helplines covering legal, tax and HR issues plus access to a variety of useful business templates.
Legal/Tax Assistance: 0330 175 7909
Experienced advisors can help you on whole range of complex legal matters in plain language including employment law, regulation, personal injury, property, contract disputes and consumer law, amongst many other areas. The helpline will also cover tax matters, including self-assessment, PAYE, corporation tax, VAT, stamp duty, capital gains and any other areas aspect of UK taxation.
Availability:
24 hour, 7 days a week access to Legal Assistance (English or Welsh Law)
9-5 access Mon-Fri for:
- Tax enquires
- Legal enquires relating to the rest of the UK or EU
Counselling service: 0333 000 2082
There is also a confidential counselling helpline available to member companies and their employees for support and advice on any personal matter, such as financial stress, bereavement, or mental wellbeing. If using this service, please call 0333 000 2082, stating that you have access to the ARAG services as part of your NFRC membership.
Business Templates
You also have access to a range of useful business, HR, and legal templates. All designed to help save you time and money. To view and use these templates, please register on the ARAG portal (our chosen provider for these services), using voucher code X1232KC79BB5. (Note: This code only needs to be used the first time you access this service as you will then be asked to set up your own username and password).
Money Advice Trust Business Support
The Money Advice trust is a charity which provides free support for individuals and businesses facing financial difficulties.
For Business Debtline, call 0800 197 6026.
The Money Advice Trust also offers free virtual learning resources for small businesses with their Building Up Business programme. The video series (available free here) is designed to help small business owners and self-employed people understand and feel confident managing their business finances.
Build UK Helplines and Services
Through NFRC membership of Build UK, our members have access to a number of free to use helplines:
- Contractual and Legal Help (England and Wales): One hour’s free advice per year from Wedlake Bell on construction law, contracts, dispute resolutions and retentions. Call 0844 249 9871
- Contractual and Legal (Scotland): Thirty minutes’ free advice per case from Anderson Strathern on construction law, contracts, dispute resolution, and retentions. Call 0844 249 9872
