It seems that almost every construction contract contains a clause proclaiming that “time is of the essence.” But what exactly does that clause mean? And why is it important? Or is it?
The phrase “time is of the essence” means that timely performance is an essential obligation under a contract, and thus failure to
The COVID-19 coronavirus is impacting every aspect of the economy, and construction will not be exempt. Materials and deliveries may be slowed, crews quarantined and unavailable, and projects delayed. We view COVID-19 as an event beyond the control of a party (an “act of G-d”), falling within the force majeure provision of most contracts. Some
On October 23, 2019, the Ohio House of Representatives introduced a bill (H.B. No. 380) that would amend Ohio’s Prompt Pay Act (ORC Section 4113.61) to provide general contractors with payment protection similar to that currently enjoyed by subcontractors under the Act.
Yesterday, the legislature approved an amendment to the Bill that clarifies that the
On October 23, 2019, the Ohio House of Representatives introduced a bill (H.B. No. 380) that would amend Ohio’s Prompt Pay Act (ORC Section 4113.61) to provide general contractors with payment protection similar to that currently enjoyed by subcontractors under the Act. Specifically, the proposal would require project owners to pay contractors within 35 days