When it comes to risk mitigation for property investors, title insurance may be the best kept secret in the industry. While the concept of title insurance is well known and most investors understand the basic coverage offered by a title insurance policy, many don’t know about the optional – and valuable – coverage that may
Under Ohio’s Prompt Pay Act, a general contractor could end up paying more for the subcontractor’s attorneys’ fees than the general contractor owed to the subcontractor. That was the ruling by the Ohio appellate court in Atlas Piers NEO v. Summit Construction Co., Inc., 2021-Ohio-2024 (9th Dist.). In Atlas Piers, the general contractor
Are you a contractor that would like to employ 16 or 17-year-olds (“minors”)? House Bill 33 (establishing the state budget for 2023-25) permits minors to work on construction sites in certain limited situations.
Note! There is nothing in the new law that requires contractors to hire minors – or to engage subcontractors who hire minors
Original article in April, 2023 Properties Magazine
Stakeholders in the construction industry are managing the increasingly complex and costly challenges associated with major projects, facilities, skilled labor forces, suppliers, and real estate.
The acceleration of public infrastructure projects, together with other government manufacturing initiatives throughout the Midwest, is creating healthy demand — and exerting some
When reviewing a contract, how often have you had the following thoughts: “That provision is so one-sided, there’s no way it will be enforced the way it’s written!” Or “I won’t worry about negotiating that provision; a court would never enforce it as written.”
A recent decision from Ohio’s Tenth District Court of Appeals illustrates
Owners and contractors should be knowledgeable in the various contract forms and their associated risks. Among the most common construction forms are 1) lump sum, 2) cost plus a fee and the hybrid, 3) cost plus a fee with a guaranteed maximum price. Each allocates risk differently and has different benefits for the parties.
A lump
The recently enacted Inflation Reduction Act of 2022 contains several new environment-related tax credits that are of interest to individuals and small businesses. The Act also extends and modifies some preexisting credits.
Before the enactment, homeowners and business owners were allowed a personal credit for specified
Contractors learned many lessons from 2020-2022 on material/labor availability, price escalation, and contractual allocations of risk. Prudent contractors will consider this in contracts moving forward.
Long gone are the days of large projects that are simply private or public. Large projects are multi-layered when it comes to funding. Federal, state, and
Supply chain interruptions are reaching critical levels and suspending work on projects. Shortages of bridge coating materials is the most recent area of concern and could be potentially catastrophic to unprepared contractors and owners. The inability to obtain materials may force painting contractors into a position where they cannot advance painting work, cannot retain painting
New York Governor Kathy Hochul recently signed into law an amendment to New York Labor Law that holds prime and general construction contractors jointly and severally liable for unpaid wages, benefits, and wage supplements owed by a subcontractor at any tier to the subcontractor’s employees.
Read more about this new law in this legal alert