Chris Scheffler | Woodruff Sawyer Replacement value is the main factor to consider when determining property program limits. The Construction, Occupancy, Protection, and Exposure (COPE) features of the building also impact the cost, availability, and terms of property insurance. In this article, we examine five site conditions that have the biggest impact on the risk… Continue reading Five Property Insurance Warning Signs and What to Do About Them
Month: July 2022
Ways to Guard Against Insolvency Risks
Colm Nelson | Stoel Rives Headlines such as “US set for recession next year, economists predict,” from the June 12 edition of the Financial Times, are a reminder insolvency risks are real and should be top of mind when moving forward with new construction projects. But there are ways to mitigate the risks. Performance bonds, as… Continue reading Ways to Guard Against Insolvency Risks
Arizona Trial Court Holds Owner May Recover First-Party Consequential Damages From Subcontractor Despite Prime Contract Waiver
Jason Ebe | Snell & Wilmer In a recent Arizona case, the trial court held that an owner could sue a subcontractor directly for recovery of the owner’s consequential delay damages based on the subcontract’s express indemnity clause, notwithstanding that recovery of those same damages against the prime contractor were barred by the language of… Continue reading Arizona Trial Court Holds Owner May Recover First-Party Consequential Damages From Subcontractor Despite Prime Contract Waiver
Florida Court of Appeals Holds That County’s “Active Interference” Overrides “No Damages for Delay” Clause
Annie D. Rosenthal | Saul Ewing Arnstein & Lehr Earlier this year, the Second District Court of Appeal of Florida held that a “no damages for delay” clause “will not be enforced in the face of governmental fraud, bad faith, or active interference with performance under the contract.” Sarasota County, Fla. v. Southern Underground Industries, Inc.,… Continue reading Florida Court of Appeals Holds That County’s “Active Interference” Overrides “No Damages for Delay” Clause
California Bars General Contractors From Collecting Compensation for Work Performed by Unlicensed Subcontractors
Cary Jones and Kennedy Williams | Snell & Wilmer On May 13, 2022, the California Court of Appeal for the Sixth Appellate District issued its opinion in Sally Kim et al., v. TWA Construction Inc., et al, finally resolving a long-standing issue: the Court of Appeal held for the first time that California Business and Professions… Continue reading California Bars General Contractors From Collecting Compensation for Work Performed by Unlicensed Subcontractors