Developers and construction companies in North Carolina and around the country sign an extensive array of contracts when preparing for an upcoming project. However, disputes can still arise, especially if cost overruns, project delays or other problems threaten to delay a project. If these disputes lead to litigation, the construction project may be delayed even further and the parties may face greater expenses. Therefore, resolving construction disputes and devising contractual provisions to deal with problems are often major priorities.
Construction disputes in North Carolina and around the country are most often rooted in changes made to a project after work has begun, according to an international consulting firm. HKA's latest CRUX Insight report, which was published on Nov. 29, is based on an analysis of 700 construction projects with combined budgets of about $1 trillion. The firm noticed that disagreements between contractors and their clients over design-related issues have now become as common as contract disputes.
A well-drafted construction contract in North Carolina will include the price for the work and the terms of payment. Foreseeable risks should also be addressed to protect both parties. It's important for everyone involved in the agreement to understand exactly what they are committing themselves to because once it's signed, the contract usually cannot be changed.
Few things can derail home remodeling projects or grind commercial development projects to a halt like construction contract disputes. When these disputes arise, time is wasted, which means money is wasted. To get the best results when dealing with a construction contract dispute, you should protect your interests.
Commercial lease agreements in North Carolina and around the country often include terms that limit noise or other disruptive behavior, and tenants may face legal consequences when these conditions are ignored. An office building landlord in California recently filed a breach of contract lawsuit against the coworking company WeWork because other tenants complained about construction noise that was allegedly so loud it made conducting normal business impossible. The litigation is the latest in a string of setbacks for WeWork that began in August with a failed initial public offering.
Buying a foreclosed home can help you save money on the purchase, which is a real plus to real estate investors and house-flippers. However, these transactions are quite different from traditional home sales, and it's important that you enter into the process fully informed. Forbes explains a few things you should expect when buying a foreclosed home
Closing on the home of your dreams is an exhilarating experience, that is until something goes horribly wrong. Unfortunately, there are a lot of issues that can prevent a closing from going through, and it's important that you're prepared for any last-minute hangups to ensure you're able to purchase the home you've chosen. Zillow.com explains a few of the most common closing issues and what you can do to avoid them.
Non-disclosure agreements (NDAs) are an essential component of doing business for many entrepreneurs. The sharing of information is often necessary when hiring new employees or taking steps to find funding, but you want to rest assured that your valuable ideas are kept secure. The following are a few instances where having a valid and binding NDA is an absolute must.
Contracts are the lifeblood of contractors in North Carolina, but as with any agreement between two or more parties, there is always the chance that something will go wrong. To protect yourself in case of a breach claim, you may want to consider alternative dispute resolution methods that may keep you out of the courtroom should a problem crop up. At Triangle Law Group, our team is well-versed in construction contracts and ways that contractors can minimize the risk of litigation.
When homeowners or property owners commission a construction project, they often have high expectations. If there are any delays on the project, it is easy for both parties to grow stressed and perhaps even pursue legal action.