Remove Agreement Remove Drafting Remove Legal Remove Lien
article thumbnail

Assignment of Benefits for Contractors: Pros & Cons of Accepting an AOB

Levelset

An assignment of benefits , or AOB, is an agreement to transfer insurance claim rights to a third party. A property owner and contractor can set up an assignment of benefits in two steps: The owner and the contractor sign an AOB agreement The contractor sends the AOB to the insurance company. The AOB agreements need to be in writing.

article thumbnail

The Real Lemon in the Bunch: Understanding Pay-If-Paid Clauses in Construction Contracts

Best Practices Construction Law

Contractors have a means of shifting the risk of non-payment by the owner to its subcontractor by including a certain payment provisions in the subcontract agreement. For the contractors out there, Universal Concrete Products is a good reminder of the importance of drafting clear and unambiguous contact terms between the parties.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Digital Builder Podcast Ep 22: How Specialty Contractors Can Navigate Contracts & Get Paid On Time

Autodesk Construction Cloud

For this reason, construction professionals must find better ways to craft and negotiate agreements. The shifting of risk and liabilities is a very common practice when drafting contracts. First, there’s the prime contract, which is the agreement that sets the terms between the owner and GC. Make sense of your contracts.

article thumbnail

Direct Contractors In California Should Take Steps Now To Reduce Exposure For Unpaid Wages By Subcontractors

Construction and Infrastructure Law

AB 1701 “does not prohibit a direct contractor or subcontractor at any tier from establishing by contract or enforcing any otherwise lawful remedies against a subcontractor it hires for liability created…” Accordingly, direct contractors across California should take a closer look at the terms of their agreements with subcontractors.

article thumbnail

constructionattorneyblog: AIA plans change to Statute of Limitations.

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. A Legally Inclined Weblog. >. « Indemnity Agreement | Main. So dont say we didnt warn you.

AIA 40
article thumbnail

constructionattorneyblog: New AIA documents and Arbitration

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. A Legally Inclined Weblog. >. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY.

AIA 40
article thumbnail

constructionattorneyblog: Mold White Paper Issued

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. The information provided here is not intended to be a solicitation for legal services, nor does it constitute legal advice. A Legally Inclined Weblog. >. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY.