Ryan Boonstra | Cohen Seglias Pallas Greenhall & Furman One of the most common issues subcontractors face is non-payment. Sometimes subcontractors have a positive relationship with the prime contractor and resolve the issue amicably. However, when the parties cannot reach an agreement, the subcontractor faces financial turmoil. Even worse, if a subcontractor fails to take… Continue reading Haven’t Been Paid? Preserve Your Rights Under the Miller Act
Month: May 2022
New Virginia Prompt Payment Statutes Invalidate Most ‘Pay When Paid’ Clauses
Alexander W. Burnett and Patrick A. Cushing | Williams Mullen On April 27, 2022, the Virginia General Assembly passed Senate Bill 550, which makes “pay when paid” and “pay if paid” clauses unenforceable in most circumstances and requires both public and private construction contracts to include certain payment clauses that obligate the contractors to be… Continue reading New Virginia Prompt Payment Statutes Invalidate Most ‘Pay When Paid’ Clauses
Contractors Are All But Guaranteed To Balk At GMPs. Here’s What Project Owners Can Do About It
Rhian Cull | Goulston & Storrs Supply chain delays and rising material costs have contractors looking for ways to limit their risk, including refusing to commit to true guaranteed maximum prices — or “GMPs” — on contracts. Fortunately, there are steps owners can take to keep projects on time and under budget. “The incredible price… Continue reading Contractors Are All But Guaranteed To Balk At GMPs. Here’s What Project Owners Can Do About It
Surfside Condo Families and Survivors Reach $1B Settlement with Insurers, Others
Insurance Journal Families of the 98 victims of the 2021 condominium collapse near Miami Beach, along with injured survivors, could split hundreds of millions of dollars in payouts under a preliminary settlement agreement announced Wednesday. The settlement will top $997 million, the plaintiffs’ lawyer said in Miami-Dade Circuit Court, according to reports in the Miami… Continue reading Surfside Condo Families and Survivors Reach $1B Settlement with Insurers, Others
Insurer Must Defend Faulty Workmanship Claims
Tred R. Eyerly | Insurance Law Hawaii The court determined that the insurer improperly denied a defense for construction defect claims made against the insured. Amerisure Mut. Ins. Co. v. McMillin Tex. Homes, 2022 U.S. Dist. LEIS 40363 (W.D. Texas March 8, 2022). McMillin was a developer, general contractor and home seller. It… Continue reading Insurer Must Defend Faulty Workmanship Claims