Loading...
 
 

Ask The Expert: The Price of Risk Transfer and One-Sided Provisions in Construction Contracts.

Published: 09 Nov 2017 Average Rating: 4 / 5 Print
 

Author: Ross Altman

Listen to this Ask The Expert: The Price of Risk Transfer and One-Sided Provisions in Construction Contracts, to hear the recent survey results.

The natural inclination when drafting and negotiating a construction contract is to transfer as much risk as possible to the other party. Although benefit might be derived from risk transfer, there often is a price to be paid or absorbed for that privilege. That price needs to be evaluated, as it may outweigh the value of risk transfer, particular if terms are perceived as one-sided and, therefore, fundamentally unfair. Parties to a construction contract may want to consider an allocation of risk that is more balanced, and also use the contract as a tool to facilitate project success. Results of a recent informal survey on the topic conducted by the American College of Construction Lawyers seem to reinforce that proposition and will be summarized.

 

This content is only available to members.

Register Now   Sign In
 

Related Discussions

Please sign in or register to post on this forum

Sopra Steria
2017-07-10 08:37:16

Agreeing KPI's Reterospectively

Dear All, I'd welcome any suggestions for this situation from the creative minds out there. We are contracting with a software vendor who have proposed a set of perf...
 
 
 
 
 
 
 
 
 
Replies: 8
Anonymous
2019-04-09 17:39:14

Uncapped limitation of liability

I work with a Company that supplies products and services (medical equipment, chemicals, diagnostic solutions, procurement management for life science companies etc) t...
 
 
 
 
 
Replies: 4
Anonymous
2018-05-07 14:51:46

Limitation of liability Clause in License Agreement

Our customer is not accepting limitation to direct damages stating that "failure of the Software means we won't be able to fulfill our obligation towards cus...
 
 
 
Replies: 2
Anonymous
2017-10-06 10:45:50

Ideas or suggestion required with regards to GDPR

I am part of Contract Management team and we are in the process of Master Agreement renewal for one of my European Client. I would welcome any ideas, suggestions on ...
 
 
 
 
 
 
 
Replies: 6