Securing signatures on subcontractor contracts, purchase orders, and change orders is often a time-consuming hassle. But now there’s a better way to resolve unsigned contracts without personally nagging your subcontractors and clients.
Why is this important?
Unsigned contracts increase the GC’s risk
Contracts specify what each party will perform or provide for a construction project. Contracts define responsibilities which inherently or literally transfer risk or determine the risk-sharing arrangement among parties. If construction services proceed with unsigned agreements, the general contractor and owner could be liable for much greater risk. A signed contract transfers risk to the appropriate party, i.e., the subcontractor performing the work.
Unsigned change orders cause schedule delays
Even when an owner’s rep verbally agrees to a change order, many contractual arrangements require signatures before work can proceed. The project schedule suffers when there’s a lag getting required signatures.
Repeatedly requesting signatures wastes thousands of dollars
Your profit evaporates and relationships erode when your staff has to nag the owner and subcontractors for signatures. Having project managers, engineers, and accountants spend several hours each week emailing and calling for signatures wastes time and money.
There’s an EASY, effective solution to unsigned contracts!
GLXY Software’s contract workflow system automatically alerts the proper department or individual when a contract is ready for signatures. All parties access documents in GLXY’s cloud document repository. No hard copies are shuttled or shipped from one party to another.
GLXY’s built-in annotation and electronic signature pad support a 100% paperless process. The contract workflow module requires the completion of all data fields when contracts are prepared. Contract accuracy improves and mistakes minimized. In addition, all signed contracts are automatically filed in the document repository exactly where they belong.
The contract workflow system manages all the alerts, saving your staff from spending numerous hours making calls and emails. The GLXY dashboard provides a visual snapshot of contract status, so unsigned contracts are immediately identifiable.
GC reduced outstanding contracts by 60%
Within just a few weeks of initiating GLXY Software’s automated weekly reminder for unsigned contracts, an Ohio general contractor reduced outstanding contracts from over 100 to 40. They also found that subcontractors began returning signed contracts within one or two weeks instead of months. Most importantly, the general contractor’s staff now spend more time on productive management tasks instead of tracking down missing signatures.