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Change Order | A Clear Construction Agreement Saves Time and Money
When a contractor needs to perform additional work during a project, the contractor should try to get a signed agreement that covers the additional work, often called a change order. Otherwise, the contractor may not be entitled to payment for this additional work. During the construction process, the parties often either want to make or […]
Why the Infrastructure Bill Makes 2022 Construction Contracts A Challenge
2022 is full of opportunities for the construction industry. As the 2021 Infrastructure Bill nears becoming law, it is vital for contractors to understand its impact. While the bill will open up opportunities, it will also come with challenges, which is especially true with regard to writing bids and contracts. We have discussed contract considerations for the construction […]
Construction Delays & Project Disruptions | What You Need to Know
Unexpected construction delays, soaring prices, and project disruptions outside of a builder’s control can leave a builder at risk for the resulting inability to complete a project timely. These disruptions can come from many sources, including natural disasters, unusually severe weather, and labor strikes. As demonstrated in 2020, however, disruptions might come from a pandemic […]
Price Escalation Clauses | What You Need to Know as Lumber Prices Soar!
Price escalation clauses have never been more important than in 2021! Recent weeks have shown a decrease in futures trading for the lumber market. Nevertheless, a downward trend in pricing remains weeks to months away. During this time, builders must still write contracts and sell homes. Questions looming over contracts include: Have we reached the […]
Construction Bonds: Win More Bids and Avoid Pitfalls
To work on governmental or larger private projects, a builder will need to obtain construction bonds. While virtually all governmental construction projects require bonds, some private projects also require bonds. When a builder seeks to expand into these areas, it can be intimidating and confusing. There are many types of construction bonds, with each type serving a particular purpose. Builders are faced with […]
Is COVID-19 Creating Cracks in Your Construction Process?
The current pandemic has already had a significant impact on the construction industry. The general state of the construction industry in Texas is that while construction projects are generally exempt from the business restrictions found in emergency declarations, the COVID-19 crisis has caused significant problems in areas such as financing and the availability of laborers […]
Agree to the Right Agreement: How to Avoid AIA Agreement Accidents for Small Projects
Having the right agreement in place is paramount in any project. Having the wrong agreement in place or an agreement with incorrect or insufficient information can cost companies millions. Many construction projects require builders to tap into the large array of contracts housed by the American Institute of Architects (AIA). The size of the project can determine which AIA documents are relevant and […]