In the world of construction, it is essential for both prime contractors and lower-tier subcontractors to carefully manage financial risk when negotiating subcontract agreements. While a party’s ability to distinguish and...more
Those familiar with the construction industry know that construction projects are seldom, if ever, completed within the time originally anticipated at the project’s outset. Fortunately, prime contractors and lower-tier...more
Pay-if-paid clauses are conditional payment provisions regularly included in construction subcontracts. The intent of these clauses is to shift the risk of loss from a prime contractor to its subcontractors by making a...more