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Pursuing Business With ‘Risky’ Accounts

Prevailing business wisdom holds that the way to reduce credit risk is to limit credit lines, be stingy in allowing credit and freeze orders on past due accounts. This line of thought posits that it is generally impossible to lower “bad debt” losses without adverse consequences to sales and business expansion. Read The Full Story »

The American Institute of Architects (AIA) has published standard form agreements since 1888. AIA Contract Documents have long been viewed as the industry standard in reflecting current industry practices and fairly balancing the risks and responsibilities of all project participants. With changes to industry sustainability practices, AIA Contract Documents has overhauled the AIA Scope documents including the commissioning scope of services. Continue »

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The poster child for construction risk is a differing site conditions clause. Construction contract definitions vary, but generally a differing site condition occurs when, unbeknownst to the owner and contractor at the time of the contract signing, the subsurface of a construction site contains a physical object or lacks a physical property assumed to be present. Continue »