When Florida businesses get involved with a new construction, there are a number of critical documents that can help to lay the groundwork for a successful project. By paying close attention to contracting even before the project begins, companies can help to avoid later construction disputes that are contentious and expensive. By building a firm, well-constructed contract, the parties involved in a project can be well on their way toward a successful development.
When Florida builders sign a construction contract, they enter a legally binding agreement with the owner that a certain amount of compensation will be received for the executed project. There may also specifications for the manner in which the compensation will be disbursed. While there are many types of construction contracts, construction professionals tend to use certain types more than others.
Having a solid construction contract in place is crucial for any project, small or large. Without a legally binding contract that clearly describes the terms and conditions of a project, both parties could face thorny legal issues. When so much time and money are at risk, it is crucial to have a detailed contract that will hold up in court.
The construction business can be complicated, lucrative, and competitive. All too frequently, construction disputes arise between construction companies, contractors, property owners, or other parties. Frequently, the parties involved turn to alternative dispute resolution (ADR) or litigation for a resolution.
Builders in Florida scored a court victory against their insurers in terms of when the insurer must provide a legal defense against claims. A recent decision clarified Florida law regarding insurance contracts for builder.