Under the guaranteed maximum price (GMP) construction contract delivery method, great care and attention must be given by the owner in setting the GMP, usually done by way of a “GMP Amendment,” following the CM’s submission...more
The key to the timely completion of a construction project is the preparation and maintenance of a comprehensive project schedule utilizing the critical path method (CPM) of scheduling. Preparation of a CPM schedule requires...more
10/17/2024
/ Best Practices ,
Construction Contracts ,
Construction Industry ,
Construction Project ,
Delays ,
Force Majeure Clause ,
General Contractors ,
Recovery Plans ,
Remedial Actions ,
Subcontractors ,
Time-Management
When an owner requires a contractor to post a payment and performance bond, the contractor, invariably, provides a bond in the form of AIA Document A312-2010. The payment portion of the bond is primarily for the benefit of...more
In our negotiation of construction management agreements for owners and developers, we have found that some overly aggressive counsel for the construction manager respond to our draft agreements with voluminous redlines, in...more