In my last column, I discussed ways to protect an owner's interests via a construction contract. In this one, I do the same for contractors, explaining that through proper due diligence, negotiation, drafting and administration of a construction contract, a general contractor can ensure, among other things, that it: (1) contracts with financially secure and trustworthy owners, subcontractors and suppliers; (2) minimizes the risk of lien claims from its subcontractors and suppliers; and (3) is responsible only for damages associated with its own performance.
Crafting a Construction Contract to Protect a Contractor
The Legal Intelligencer
July 30, 2013