By Kadish & Associates Law Group posted in Contract Disputes on Wednesday, February 1, 2017.
Construction projects are lengthy, costly business ventures, and any dispute or delay can have a significant impact on your finances. If you are facing a conflict regarding a current or future Nevada construction project, it is important to reach out for legal help as soon as possible. In order to protect your financial interests, you need a lawyer closely familiar with the nuances of construction law.
Avoiding risk in a construction project
Construction is an industry fraught with risks, but it is possible to avoid complications by taking the appropriate steps before the project begins. In drafting contracts, you would be wise to work closely with an attorney to do due diligence regarding the following issues:
- Boundary lines
- Loan approval
- Utility concerns
- Security of needed materials
- Cost and management of employees
A thorough discussion and understanding of all potential issues is a significant step toward reducing potential negative issues and costly setbacks.
A proper contract can help you avoid a host of complications
One of the main components of a successful construction project is a strong, properly drafted contract. Developers, contractors, construction managers and subcontractors would be wise to protect their rights in contracts that address some or all of the following matters:
- Assign rights and duties to individuals managing and working on the project
- Finalize plans, specs for the project and budget
- Pricing and scope of the project
- Timeline for the project
- Payment and performance bonds
Before moving forward with a major construction project, it is critical to be as specific as possible in all contracts that are required. Specificity can be tedious, but all efforts made toward developing strong contracts is the best way to protect your interests during the project and upon completion.
What happens if a dispute arises?
A perfect, problem-free construction project may not be a reality for your company. While a strong contract can greatly reduce the potential for a problem, this does not mean that issues will never arise. In the event that you find yourself facing a contract dispute, claims of construction defects or other complex matter, it is imperative not to attempt to resolve it alone.
By securing the help of a construction law attorney as early as possible, you can have the legal guidance needed to steer you through the entire project, including effectively resolving any disputes that may threaten your timeline or bottom line.