Construction Contracts | A clear, thorough construction contract can help to reduce the risks involved in the high-stakes, risky business of construction. Misunderstandings in the contract, usually in relation to insurance coverage, are a common source of disagreements. Commercial insurance plans for contractors are frequently written with a brief, general statement of coverage that is subsequently restricted by a protracted list of definitions, exclusions, exceptions, and extra endorsements.
Due to this approach of contract design, most insurance plans are challenging to read and comprehend. Hence, misunderstandings that lead to conflict. Also, certain parties are exposed to risk due to the normal contract structure. Many contracts are written to transfer risk to lower tier parties as a risk management tactic for larger companies. As a result, these kinds of contracts increase the likelihood of problems for the lowered parties.
The consultants at Spire, who have expertise working with people of diverse backgrounds and have a focus on the construction sector, are aware of this trend and can assist with risk management for all parties. Based on your unique requirements and objectives, Spire can offer contract analysis and make knowledgeable recommendations. Any role, including lawyers, owners, contractors, and more, can benefit from Spires’ services. Spire is prepared to offer continuous assistance in evaluating a client’s contract considering its performance specifications.
Our staff has examined thousands of contracts and helped with all aspects of the contract process, including contract review during the project, contract balancing during the dispute process, and carrying out individualized best practices training sessions before to the project.
The construction contract will be correctly understood, efficient, and with little to no risk for you and your team if you use our support and services to ensure that your project runs smoothly and efficiently with few to no disagreements.
Construction Advisory Consulting Services
Spire’s advisory support is based on each client’s specific needs and project requirements by providing effective project leadership in the following service areas: