Spotting Red Flags and Identifying Risks in Construction Contracts. The following is a checklist of some of the more important provisions in construction contracts1 that represent potential risk.
Spotting Red Flags and Identifying Risks in Construction Contracts Sample Clauses
Related to Spotting Red Flags and Identifying Risks in Construction Contracts
BUILDER’S RISK FOR NEW CONSTRUCTION PROJECTS If the project is NEW CONSTRUCTION, then the following provisions apply:
Interconnection Facilities Engineering Procurement and Construction Interconnection Facilities, Network Upgrades, and Distribution Upgrades shall be studied, designed, and constructed pursuant to Good Utility Practice. Such studies, design and construction shall be based on the assumed accuracy and completeness of all technical information received by the Participating TO and the CAISO from the Interconnection Customer associated with interconnecting the Large Generating Facility.
BUILDER’S RISK FOR CONSTRUCTION RENOVATION PROJECTS If the project is CONSTRUCTION RENOVATION of an existing structure, and the State has already determined that Contractor will not be obligated to obtain and maintain Builder’s Risk insurance, then the following provisions apply:
Exclusion of applications on preliminary points of law Any recourse to any Court for the determination of a preliminary point of law arising in the course of the arbitration proceedings is excluded.
Application of General Conditions These General Conditions set forth the terms and conditions generally applicable to the Development Grant Agreement to the extent and subject to any modifications set forth in such agreement.”
Construction Phase - Administration of the Construction Contract 1.6.1 The Construction Phase shall commence with the acceptance of the Construction Manager’s Guaranteed Maximum Price (or acceptance of a partial Guaranteed Maximum Price for a stage or phase) and issuance of a Notice to Proceed with Construction Services and terminate sixty (60) days after Final Payment to the Contractor is made, or when all of Architect/Engineer’s services have been satisfactorily performed, whichever occurs later.
Suspension of unsafe Construction Works (i) Upon recommendation of the Authority’s Engineer to this effect, the Authority may by notice require the Contractor to suspend forthwith the whole or any part of the Works if, in the reasonable opinion of the Authority’s Engineer, such work threatens the safety of the Users and pedestrians.
ADDITIONAL CONSTRUCTIONS The Promoter undertakes that it has no right to make additions or to put up additional structure(s) anywhere in the Project after the building plan has been approved by the competent authority(ies) except for as provided in the Act.
Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.
Advice on Construction Progress To each Change Order which grants an extension in the Contract Time, the Design Professional shall attach its Advice on Construction Progress, in the format provided in the Forms Packet, and provide a copy to the CM/GC.
