David A. Blake | Seyfarth Shaw Potential Damages Potential damages arising from the failure to achieve statutory or contractual requirements concerning Leadership in Energy and Environmental Design (LEED) or other green building standards are far ranging and may include: fines, loss of financing or tax incentives, loss of tenants, decreased building value, decreased worker productivity,… Continue reading Contract Drafting Tip: “LEED” Damages and the Waiver of Consequential Damages Clause
Tag: Consequential Damages
Consequential Damages: Is Your Waiver “Inconsequential”?
Earl K. Messer | Taft Stettinius & Hollister You are entering a major construction contract. You want to make sure you avoid a big damages claim to the extent you can. One of the typical contract clauses that comes to mind is one for a mutual waiver of consequential damages. You get it included in… Continue reading Consequential Damages: Is Your Waiver “Inconsequential”?
Ohio Appellate Court Awards Consequential Damages for Contractor’s Failure to Achieve Substantial Completion Due to Recklessness
Alexandra Parriman | Bricker & Eckler When a contractor indicated indifference to executing a project on schedule and failing to meet the substantial completion date, an Ohio appellate court found that the contractor’s actions constituted recklessness and, based on the terms of the contract, triggered the award of consequential damages. This case arose out of a contract… Continue reading Ohio Appellate Court Awards Consequential Damages for Contractor’s Failure to Achieve Substantial Completion Due to Recklessness
Contract Clauses Limiting Damages
Stanley A. Martin | Commonsense Construction Law The NH Supreme Court has enforced contract clauses waiving consequential damages and limiting liability. It has also noted that tort claims asserted when the underlying transaction was based on a contract will be barred by the economic loss doctrine. The plaintiff was an engineering service firm that works… Continue reading Contract Clauses Limiting Damages
Consequential Damages in Construction – The Silent Killer
David Senter | Nexsen Pruet One of the biggest risks contractors and subcontractors face on construction projects is liability for consequential damages, although many of them may not even know about that risk, much less understand it. Consequential damages are damages which flow indirectly from a breach of contract and are typically related to delays… Continue reading Consequential Damages in Construction – The Silent Killer