Construction project contracts have varied nuances and needs depending on the specific project and its scope of work to be performed. Some can be satisfied in concise, short proposals while others require more detailed sections. For general contractors, understanding key contract provisions is vital to protecting both the project and the company’s bottom line.
On Wednesday, March 3, 2021 three partners from our Construction Industry Team presented 15 Critical Construction Contract Provisions for General Contractors: How to Use Them to Protect the Project and Your Bottom Line. The presentation covered 15 of the most critical contract provisions and tips for negotiating either contracts with the owner or subcontracts with subcontractors.
Presented by James O. “Joby” Birr and Austin B. Calhoun.
This presentation covered 15 key provisions in detail, including:
- Contract Documents
- Scope of Work
- Payment
- Extra Work
- Unforeseen Conditions
- Unanticipated Prices Increases for Materials and Labor
- Delay
- Force Majeure
- Claims for Additional Time and/or Money
- Termination & Suspension
- Indemnity
- Limitation Damages
- Insurance
- Dispute Resolution
- Attorney’s Fees