A few years ago, Michael was part of a discussion on Time & Material contracts. The other speaker was Stephen Eichelberger, a construction attorney from Salem, Oregon.
After Michael finished his talk on why Time & Material contracts were a mistake, Stephen started his talk with, “I hate to disagree, but I really like Time & Material contracts”. After he enjoyed the shocked look on Michael’s face, he continued, “A large part of my business comes from Time & Material contracts.”
Michael has spent the past two days on a special consulting trip, helping homeowners who entered into a Time & Materials agreement (no contract) with one of those contractors who gives all contractors a bad name. He asked me to post a note reminding contractors not to go this route – the attorneys are the ones who benefit. I’m sure he will have more to say next week – stay in touch.