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Six Questions Owners Should Answer Before Entering a Construction Contract

By on August 26, 2016 in Commercial, Construction, Contracts

There are six questions that an owner can ask to evaluate what rights and obligations it will have upon entering into a construction contract, writes Daniel Bradfield, a partner in Arnall Golden Gregory LLP.

“Quite often owners simply verify the economic terms for the project, set a completion date, possibly include references to drawings or plans, and then sign a construction contract with little regard to the various provisions that will impact the amount of leverage available in the event a problem occurs with the project,” Bradfield writes in the article.

He discusses the six questions:

  • What is being signed?
  • What actions can an owner take if the contractor does not finish the work on time?
  • What does the contractor need to provide the owner in order to receive payment?
  • How are disputes to be resolved?
  • What does the owner owe the contractor if the owner terminates the construction contract?
  • What, if any, roles will the architect play in the project under the terms of the construction contract?

Read the article.

 

 

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