Construction Bond and Contract Provisions

• Overview
• Credits

Control risk with contract provisions and construction bonds.Construction projects involve many risk factors from cash flow to weather, and workmanship to design errors. Although all risks cannot be eliminated, risk can be mitigated through the use of bonds and proper contract terms. This topic will provide an overview of construction bonding and the bond claim process as well as a primer on key contract provisions to help control risk.

Authors

Joshua B. Levy, Esq., Husch Blackwell LLP David B. Raymond, Esq., Husch Blackwell LLP

Agenda

Bonds for Construction Projects

• Bonds vs. Insurance

• Performance Bonds

• Release of Lien Bonds

• Presenting Bond Claims

• Responding to Bond Claims

• General Agreements of Indemnity

Construction Contracts: Key Clauses

• Standard Owner Agreements, Designer Agreements, Subcontracts and General Conditions

• Changes and Modifications

• Delay, Liquidated and Consequential Damages Clauses

• Pay When Paid Clauses

• Indemnity and Insurance Clauses

• Substantial and Final Completion

• Dispute Resolution Clauses