Upcoming Events< Previous Event 3 of 30 Next >
1:11 pm - 1:11 pm PST
CCDC Contracts: Supplementary & Non-Standard ClausesVancouver Island Construction Association
Remember when it comes to contracts, it’s not about your own thoughts and assumptions; it’s about what is written!
What has caused changes to industry-standard contract clauses? Allocation of risk often gets modified in contract clauses based on Project Owners or their lawyers’ past experiences. The issue with modifications to contract clauses is the lack of understanding of what these clauses mean and associated risks to Project Owners, Consultants, Contractors, and other Stakeholders when they are changed.
When contract clauses are modified these risks materialize:
- disputes arise,
- relationships are damaged,
- project costs can increase,
- schedules can be compromised,
- bidders can jeopardize their businesses
- the potential for litigation increases
It’s critical to be aware that in the nuances of the prime contract clauses, there are implications and requirements impacting all partners including the Consultants and Subcontractors.