In the quest to get paid, subcontractors and suppliers often overlook their rights under payment bonds applicable to public and private work. The vast majority of public work must be bonded.
Pricing construction goods and services during the pandemic has become a roll of the dice. Early manufacturing lockdowns and a downturn in the economy caused labor pools to shrink, and material production to slow.
Unforeseen delay tops the list of risks project owners want to eliminate by contract. Typically, this is accomplished through a “no damage for delay” (NDD) clause. An NDD clause provides that all forms of delay, even if excusable, are non-compensable.
Modern contracting arrangements offer a number of ways to deliver a project to the owner, including design-build, construction management and traditional design-bid-build methods.
On November 15, 2021, the Infrastructure Investment and Jobs Act (IIJA) was enacted by Congress with bi-partisan support. IIJA will fund construction projects in several key sectors, including transportation, telecommunications, electric transmission, broadband, energy and water systems.
Pricing labor and materials in the wake of the pandemic has become a roll of the dice for owners and contractors. Early manufacturing lockdowns and a downturn in the economy caused labor pools to shrink and material production to slow.