Beginning with a sound construction contract can have a significant impact on a firm’s profit, loss, reputation and overall ability to manage a project. Risk shifting is the contracting norm, and attorneys across the country scrutinize contract clauses when deciding which client will prevail. Continue »
The construction contract is a critical component to every construction project. And, unfortunately, construction contracts can be long documents understood only by attorneys. Continue »
Contractual requirements for increased risk management can communicate the expectation of safety and minimize exposure for losses. Unfortunately, the standard construction contract contains very little in regards to incident prevention. Continue »
Four experts offer advice on what contractors need to know about construction disputes.
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Construction is inherently challenging. The perfect set of plans has yet to be drawn and the error-free construction project has never been built. In the building industry, it’s not if there will be a problem, claim or litigation, it’s when. Continue »
Hiring the wrong subcontractor can create a variety of consequences, especially for small contractors. Here are six points to consider when hiring subcontractors. Continue »
Many construction companies don’t realize how susceptible they are to financial loss caused by the fraudulent acts of their employees. Employee theft involves more than just cash. In industries like construction there are other ways employees can steal or misuse an employer’s assets. Continue »
Cyber-phishing has cost companies hundreds of thousands of dollars-and not just by targeting individuals’ credit cards. Other schemes continue to defraud companies at an alarming rate. Continue »
When most teams embark on a new construction project, one of the first considerations is usually not insurance. Some view insurance as a necessary evil; others view insurance as a critical piece of their comprehensive plan to manage and allocate risk. Continue »
There are some well-established practices employers can perform to effectively manage their workers’ compensation costs. Continue »
When it comes to workplace safety and risk management, today’s construction executives are up against some serious challenges. Despite representing one of the country’s smallest occupational groups, construction employers absorb the second highest rate of absences due to work-related injuries. Continue »
Can you get away with using a letter, or even handshake agreement when performing construction work on a small project? After all, you may have used them in the past, so what could possibly go wrong? Contractors should be aware that even their first lawsuit could be the one that sinks their company and risks their professional livelihood. Continue »