Benjamin J. Hochberg | Peckar & Abramson In BIL-JIM Construction Company, Inc. v. Wyncrest Commons, LP, 2023 WL 7276637 (Unpublished, decided November 3, 2023), the New Jersey Appellate Division was asked to consider two issues regarding the interpretation and application of a construction contract that utilized the standard form American Institute of Architects owner/contractor agreement (AIA… Continue reading Wyncrest Commons: Commonly Used Progress Payments In Construction Contracts Do Not Render Them Installment Contracts
Tag: Construction Contract
A Contract Check Up for the Construction Industry
Creighton Dixon | Snell & Wilmer We began the year discussing an insurance checkup for those working in the construction industry. Now, we are following up with a discussion of issues for a contract checkup, specifically for your ongoing long-term projects. As the year ends, this may be a good time to pull your contracts… Continue reading A Contract Check Up for the Construction Industry
Potential Change for “Pay-if-Paid” and “Pay-when-Paid” Clauses in Michigan
Joshua Wilk | Clark Hill To understand the difference between the two contractual clauses, it is important for general contractors and subcontractors to know the following: Under current Michigan law, a contract may contain a “pay-if-paid” clause stating that the subcontractor will be paid only after the general contractor is paid. Given pay-if-paid provisions are… Continue reading Potential Change for “Pay-if-Paid” and “Pay-when-Paid” Clauses in Michigan
More Clear, But Not Yet Crystal: Virginia Amends its Prompt Payment Law and Legislation Banning “Pay-If-Paid Clauses in Construction Contracts Effective July 1, 2023
Hanna Lee Blake | ConsensusDocs The Virginia General Assembly has joined a minority of jurisdictions that ban pay-if-paid clauses in construction contracts on public and private projects. Senate Bill 550 went into effect applying to contracts executed after January 1, 2023, and most recently has been amended effective July 1, 2023. This update highlights the… Continue reading More Clear, But Not Yet Crystal: Virginia Amends its Prompt Payment Law and Legislation Banning “Pay-If-Paid Clauses in Construction Contracts Effective July 1, 2023
The Contractor’s Contingency: What Contractors and Construction Managers Need to Know and Be Wary Of
Skyler Santomartino | ConsensusDocs Contractors and construction managers who enter into cost reimbursable contracts subject to a guaranteed maximum price (GMP) are responsible for all project costs exceeding the GMP. For this reason, it is imperative that contractors negotiate and incorporate into the GMP a financial buffer that accounts for the unanticipated project costs that… Continue reading The Contractor’s Contingency: What Contractors and Construction Managers Need to Know and Be Wary Of