Tag Archives: construction contracts

Is Coronavirus a Force Majeure Event?

What does the coronavirus mean for business, particularly in real estate development, finance and construction? How does it impact real estate transactions, acquisition and finance closings? Are you in breach if you cannot fulfill your agreement, even if your inability is linked to effects – even extraordinary government action – that are linked to COVID-19? CONTINUE READING...

The Beneficiaries of “Pay-if-Paid” Clauses in Construction Contracts

While the law of contract formation allows parties “freedom to contract”, in construction law, general contractors have largely negotiated a shift in the distribution of risk to the subcontractor with the inclusion of “pay-if-paid” contractual clauses that make the general contractor’s receipt of payment from the owner a condition precedent to the ultimate payment to the subcontractors. CONTINUE READING...