Risk Allocations in Construction Contracts

By: Michael Polentz
– GlobeSt.com

In the world of real estate development, one of the most significant and often undervalued agreements is the contract between the owner/developer and the general contractor.  Drafting and negotiating construction contracts for commercial and/or large scale construction projects is, in its simplest form, an exercise in risk management. Each side jockeys for position on where and how to allocate risk; while, at the same time, managing those risks through a variety of mitigation techniques.

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