The payment term is the most important provision of any subcontract. Subcontractors are not typically advanced money at the start of their work, requiring them to front the cost of construction based on the contractor’s contractual obligation to pay. But, a subcontractor must insure the contractor’s payment obligation is not illusory. Pay-if-paid and pay-when-paid provisions are frequently misunderstood. A pay-if-paid … Read More
It’s All in the Contract: Design Professionals
We’ve all been told to be careful what we ask for. And that is true. But for design professionals, it is also important to “be careful what you contract for.” Many design professional contracts contain standardized language that has been evaluated and addressed for many years, providing greater certainty as to the application of the contract language. However, sometimes owners … Read More
Contracting in the Right Name
It’s all in the name: Tennessee regulation requires construction contracts be in the specific name on the contractor’s license We all know—or should know—that Tennessee requires valid and appropriate contractor’s licenses in order to perform most all construction related activities over $25,000. However, we have seen many contractors fail to pay attention to the details on the licensing issues, and … Read More