Among contractual provisions that sometimes go unnoticed or unappreciated is the “liquidated damages” provision, which is often used in construction contracts to identify the amount of damages that a contractor will owe the owner if there is a delay in completing construction. In my latest article for the Daily Journal of Commerce, I provide
Allocate Payments Clearly to Minimize Construction Disputes
In an ideal world, a contractor performs a portion of the work on a project as provided for in a construction contract, the owner pays the contractor an installment payment for that portion of the work, and the parties continue similarly until the work is finished. However, many factors can upset the equation – changes