Brisbane builder Wiley balked at signing a $40–50 million office tower contract because the developer demanded an 8 per cent margin, while chief executive Rob Barron wanted 15–17 per cent. UDIA national president Maxwell Shifman said financiers require fixed price, fixed time contracts with liquidated damages.
As I told the Australian Financial Review: “If you look at the sort of contract financiers typically require, they generally need a fixed price and a fixed time contract with liquidated damages built in,”
the Australian Financial Review, 3 August 2022 — Read the full article