CONCRETE CONCEPTS BLOG
Deficiencies are a common reason for litigation in construction proceedings. Dissatisfaction due to deficient work can make homeowners act in a zealous manner – namely, firing existing contractors, hiring subsequent contractors to finish or correct remaining work, and litigating against the initial contractor for the cost of correcting such deficiencies. However, the law recognizes that reasonable opportunities must be provided to correct such deficiencies before setoff or claim rights are allowed.
In this article, we outline some concerns that financiers and developers face when engaging in construction financing, along with the various challenges they face, and the ways in which lawyers can help them navigate these issues.
A fixed price contract offers a ‘fixed price’, meaning a fixed scope of work for a predetermined price. Read this article to learn more about the benefits and risks of entering into these forms of agreements.
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