Construction agreements come in many flavors, most of which are variations on two major themes ” “fixed price” (or lump sum) contracts and “cost-reimbursable” contracts. Understanding the basic themes ...

We recently released a book titled “Home Remodeling for Dummies.” Chapter 10 is about construction contracts. It begins: “What literature about contracts would be complete without some mention of the ...

The purpose of a construction contract is risk management. As any construction professional knows, the construction business is inherently risky. There are three main types of loss in any construction ...

Each policy type is tailored to address specific areas of risk, ensuring comprehensive protection for both contractors and project owners. While construction insurance covers many risks, it may not ...

Owners and contractors have two choices for the type of contract and agreement to use: fixed price or cost-plus. Both types of contracts have their advantages and disadvantages, but let's look further ...

Before starting any home renovation project, legal experts say homeowners should take the necessary legal precautions to avoid costly disputes. That starts with a solid construction contract. “A ...

Developers rushing to get projects off the ground can face significant risks without developing clearly defined indemnity clauses at the outset. Indemnity clauses, included in virtually all ...

Surety construction bonds are a fact of life if you work in the building industry. Government projects and much private-enterprise construction require you take out a surety bond to get the job. This ...