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The Lowdown on Significant Risk-Allocation Clauses (Part 1 of 2)

Construction Business Owner

The Lowdown on Significant Risk-Allocation Clauses (Part 1 of 2) ccapoccia Wed, 01/10/2024 - 15:50 Recognition and allocation of risk should be major concerns for all parties in a construction project. Allocating unavoidable risks between the parties is a major function of construction-related contracts.

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Managing Risk Starts with Contract Negotiations

Construction Business Owner

Success on a project is often dependent upon risk management, and managing that risk starts with contract negotiation. Contractors must recognize the implications of the contract provisions and review standard forms with a critical eye.

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Procurement Negotiation Strategies in Construction: Maximizing Value and Reducing Costs

Building Radar

Effective procurement negotiation strategies are crucial for success in the construction industry. By implementing strategic negotiation techniques, construction companies can maximize value while reducing costs, ensuring both short-term gains and long-term sustainability. Key Procurement Negotiation Strategies in Construction 1.

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Not Just An Old Wives’ Tale: Negotiating “Paid In Full” Check Binds Contractor

Best Practices Construction Law

the Court of Appeals of Mississippi held that the PAID IN FULL principle—or what lawyers know as accord and satisfaction —barred a contractor’s claim for additional payment. The contractor won a bid to construct a water system in two local counties. Fouches and Assoc., The “paid in full” principle is not just an old wives’ tale.

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Why You Should Read Indemnity Provisions in Contract Negotiations

Construction Business Owner

In the typical construction contract, the least understood provisions are often those that require the contractor to indemnify the owner for losses or damages arising under the contract. Indemnity provisions are a powerful risk-shifting tool that often go overlooked during contract negotiations.

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Why Getting Prequalified Should Matter to Contractors

Safety Services Company

Enlisting contractors comes with a substantial financial investment and entails significant risks. Every hiring client aims to find safe, reliable, and compliant contractors, so they put potential vendors through a series of tests. What Do Hiring Clients Look For When in Search for a Contractor?

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7 Things Contractors Need to Know About Retainage

Fieldwire

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.