Brian R. Gaudet | Kilpatrick Townsend & Stockton LLP | July 24, 2018 For those in the construction industry, you are probably familiar with the concept of negotiating contract terms, either in writing or just a discussion, and when the two parties agree to terms, either in writing or with a handshake, then a deal… Continue reading Is My Bid Binding?
Tag: bids
Binding Bids
The construction industry operates by word-of-mouth to a great extent. Therefore the question: How binding is someone’s word. A typical example of verbal arrangements in the construction industry is subcontractor bidding. In typically last-minute preparations of their bids contractors and subcontractors rely on verbal prices from subcontractors and material/equipment suppliers. The contractor or subcontractor involved… Continue reading Binding Bids