Construction industry contractors across New Jersey and New York are impressively diverse, bringing wide-ranging acumen and skill sets to projects of every type and size.
And whether they are plumbers, roofers, painters, carpenters, electricians or workers from another professional specialty, their diversity is coupled with a similar mindset, to wit: They strive to do quality work, and they want to be paid fairly and in a timely manner for it.
Construction work – especially that involved in large, complex and/or time-sensitive endeavors – features inherent risks. Adverse weather can slow things down. An industry work stoppage (e.g., strike or lockout) can threaten supplies. The cost of necessary materials might suddenly fluctuate dramatically. Worksite safety might become an issue. Disagreement can arise over design, workmanship or payment.
Any of those matters – and many others as well – can fundamentally jeopardize a project and raise the odds for acrimony or even formal litigation among business principals.
The central role of a well-crafted construction contract
A timely and soundly executed construction contract anticipates conflict and seeks to both avoid it when possible and establish clear terms and conditions for dealing with it when it rears its head.
Among other things, a well-considered construction contract that is crafted with close input from proven legal counsel will spotlight and effectively deal with the following matters:
- Risk catalysts and how contractual challenges should be handled if/when they arise
- Relevant time frames and responsibilities linked with them
- Price matters
- Payment schedules, amounts and penalties when slated performance lacks
- Details concerning scope of work, design and material requirements
- Dispute resolution processes (e.g., governing law and arbitration vs. court)
Construction contracts are both vitally necessary for business participants and inherently complex. One in-depth online overview makes a prominent point to contractors concerning them, namely, to secure help from an experienced construction law firm before signing one.