In episode 47 of The Subcontractors Blueprint podcast, Jacob Austin of QS.Zone delves into the critical obligations subcontractors must understand under the New Engineering Contract (NEC) to ensure profitability, improve cash flow, and grow their business. Key topics include the early warning clause, the necessity of employing competent personnel, adherence to project scope, compliance with health and safety requirements, and meeting key project milestones. Jacob also covers the importance of timely defect correction, payment submissions, and accurate compensation event assessments. KEY TAKEAWAYS:  The twelve most important obligations under an NEC subcontract and the contractual ramifications of failing to meet them.  The concept of Key Dates and what happens if you miss them  Non correction of defects may result in the client recovering costs from you, even if they haven’t incurred them.  Submission of an application for payment before each assessment date.  Other episodes about NEC Contracts: Episode 4 - Mastering NEC4: https://podcasts.apple.com/gb/podcast/the-subcontractors-blueprint/id1701638267?i=1000635658618 Episode 41 - Managing Change under NEC4: https://podcasts.apple.com/gb/podcast/the-subcontractors-blueprint/id1701638267?i=1000654693851 BEST MOMENTS: "It is a must that you raise early warnings to avoid the effects of this "you should have told me earlier" clause” "this is the NEC forcing the discussion, forcing you to raise issues that might turn into problems and get around the table to resolve them.” “We only got paid a small portion of that boarding work, which was roughly what it would have cost to patch some of the bigger holes.” "The onus is on you here to give enough information to justify how much you want or how much you need." 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