Compose a 3000 words assignment on contractors and sub contractors. Needs to be plagiarism free! The economic recovery of the sector has brought with it not only opportunities but also risks and pitfalls that can just as easily have negative impacts on construction companies trying to enter into the newly recovered market. .
One of the greatest challenges that international contractors will face while entering the European market would be the fluctuating exchange rates (Jones, 1992). With the difference increasing between Euro and other countries’ currency foreign contractors have a hard time estimating an exact budget of a particular project. Moreover, if the exchange rate of the Euro increases after an estimate is drawn the contractor may lose a large amount of money. Keeping this risk in mind contractors must be careful when dealing with the Euro. They must convert the cost in their own local currency using up to date exchange rate and must acquire the needed Euros while the exchange rate is the same (Jones, 1992).
When dealing with European construction companies there contractors tend to encounter individuals that communicate in different languages. If suppliers would speak Dutch then subcontractors would be German, communicating with them all would be a tedious task for the contractors. English is one of the main languages that is used to communicate between and is spoken fairly well by all members of the construction community (Hendon et al., 1996). However, even with English being used by many individuals, there is still an issue with their accents and expressions causing great confusion while communicating. Translation of what is said or written in a document usually changes the context of the statement. This, in turn, causes problems regarding some technical .and legal construction terms which are used to draft an agreement between the two parties (Hendon et al., 1996). .
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