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 ...

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 ...

Indemnification is a term often thrown about in construction litigation, and you will see it in most standard form construction contracts. But what actually is it, and how useful is it to have when it ...

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 ...

LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the 4 major types of procurement in the ...

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 ...

We continue our discussion with Mark Oblad on his work within the contracts, smart contracts, and blockchain space in the second of a five-part weekly series. Not all types of contractual ...

A funding lapse would suspend operations completely on most cost-type contracts, as well as on related state and local work.

On a major building project or any project that starts work before all the design is completed and the trades are purchased, the best project delivery system is the cost-plus-a-fee contract, also ...