Andy Klein wrote an article for The Legal Intelligencer titled, “Ways to Craft a Construction Contract to Protect Owner.”
In the article, Andy lays out 10 ways to minimize an owner’s risk on a construction project. Although there is no surefire way to completely eliminate all of an owner’s risks on a construction project, proper negotiation, drafting and administration of a constructions contract can provide a surplus of protections to an owner.
Andy advises that if the owner takes necessary protections, an owner (1) will not pay twice for the same work if a mechanics’ lien is filed; (2) has the full range of remedies available in case of a contractor’s breach; (3) is protected in case of payment or performance failures by its contractors, subcontractors and suppliers; and (4) enjoys all of the warranties for which it has bargained.
To view the entire article in The Legal Intelligencer, click here.