New Trends and Bad Results in Construction Contracts, Part II
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VIEW THE ORIGINAL ARTICLEPublication: Leadership and Management in Engineering
Volume 4, Issue 3
Abstract
Part II of “New Trends and Bad Results in Construction Contracting” offers a review of a few “problem” trends that increasingly appear in the construction industry, including differing site conditions clauses that shift risks to the contractor; consequential damages clauses that could take away the contractor’s profit and more; clauses that promise alternative dispute resolution that instead set up roadblocks and hurdles that delay resolution and increase the cost of settling disputes; and clauses that give away the contractor’s claims and rights to lien the job from the outset. The pressures leading to these trends are primarily economic and have resulted in (among other things) more risk for the contractor. This paper discusses areas of increased risk found in today’s construction contracts, the reasons why they have appeared and what a contractor should do to mitigate these “new” risks.
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Copyright © 2004 American Society of Civil Engineers.
History
Published online: Jul 1, 2004
Published in print: Jul 2004
ASCE Technical Topics:
- Business management
- Construction engineering
- Construction industry
- Construction management
- Construction sites
- Contracts and subcontracts
- Dispute resolution
- Financial management
- Highway and road conditions
- Highway and road management
- Highway transportation
- Highways and roads
- Infrastructure
- Infrastructure construction
- Legal affairs
- Practice and Profession
- Profits
- Transportation engineering
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